Meritage Portfolio Management Has $10.73 Million Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Meritage Portfolio Management decreased its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 0.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 413,586 shares of the biotechnology company’s stock after selling 480 shares during the period. Meritage Portfolio Management’s holdings in Exelixis were worth $10,733,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXEL. LSV Asset Management increased its holdings in shares of Exelixis by 107.7% in the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after purchasing an additional 2,989,021 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in Exelixis by 148.2% in the first quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock worth $53,817,000 after purchasing an additional 1,354,062 shares during the period. Swedbank AB bought a new stake in Exelixis during the 1st quarter worth about $22,455,000. Farallon Capital Management LLC lifted its position in Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after purchasing an additional 424,000 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Exelixis by 12.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after purchasing an additional 370,199 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling at Exelixis

In other news, EVP Dana Aftab sold 96,986 shares of Exelixis stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the completion of the transaction, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $17,463,075. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Dana Aftab sold 96,986 shares of Exelixis stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the completion of the sale, the executive vice president now owns 498,945 shares of the company’s stock, valued at approximately $17,463,075. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Maria C. Freire sold 8,250 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the transaction, the director now directly owns 91,007 shares in the company, valued at approximately $2,417,145.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 277,281 shares of company stock worth $8,826,761 over the last 90 days. Company insiders own 2.85% of the company’s stock.

Wall Street Analyst Weigh In

EXEL has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $34.00 target price on shares of Exelixis in a research report on Wednesday, October 30th. Stifel Nicolaus raised their price target on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. UBS Group assumed coverage on Exelixis in a research note on Thursday, September 19th. They issued a “neutral” rating and a $30.00 target price on the stock. Finally, TD Cowen boosted their target price on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.44.

Exelixis Trading Up 1.3 %

Shares of Exelixis stock traded up $0.45 on Friday, reaching $36.25. 2,227,542 shares of the company were exchanged, compared to its average volume of 2,840,695. The company has a market capitalization of $10.35 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 0.90 and a beta of 0.51. Exelixis, Inc. has a one year low of $19.20 and a one year high of $36.60. The company has a 50-day moving average of $28.07 and a 200 day moving average of $24.74.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. Analysts predict that Exelixis, Inc. will post 1.68 earnings per share for the current year.

Exelixis Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.