Bellevue Group AG Sells 203,200 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Bellevue Group AG lessened its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 11.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,600,000 shares of the biotechnology company's stock after selling 203,200 shares during the period. Bellevue Group AG owned approximately 0.56% of Exelixis worth $41,520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EXEL. V Square Quantitative Management LLC acquired a new stake in Exelixis in the third quarter valued at $30,000. Brooklyn Investment Group purchased a new stake in Exelixis during the third quarter worth about $42,000. Park Place Capital Corp acquired a new position in Exelixis during the second quarter worth about $45,000. GAMMA Investing LLC increased its holdings in Exelixis by 107.9% in the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company's stock valued at $45,000 after buying an additional 1,041 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Exelixis during the 3rd quarter valued at approximately $61,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Activity at Exelixis

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the sale, the executive vice president now owns 605,325 shares in the company, valued at $15,968,473.50. The trade was a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the sale, the executive vice president now directly owns 278,665 shares of the company's stock, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,736 shares of company stock worth $9,308,410 in the last 90 days. Corporate insiders own 2.85% of the company's stock.

Exelixis Stock Performance

Shares of NASDAQ EXEL traded up $0.53 during midday trading on Friday, reaching $36.46. 1,691,874 shares of the company's stock were exchanged, compared to its average volume of 2,112,012. The stock has a market capitalization of $10.41 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 0.92 and a beta of 0.51. Exelixis, Inc. has a 52-week low of $19.20 and a 52-week high of $36.97. The business's fifty day moving average price is $30.82 and its two-hundred day moving average price is $26.08.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. During the same period last year, the firm posted $0.10 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. Analysts predict that Exelixis, Inc. will post 1.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on EXEL. Guggenheim upped their price objective on Exelixis from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. BMO Capital Markets upped their price target on Exelixis from $29.00 to $36.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Stephens lifted their price objective on Exelixis from $23.00 to $29.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $34.00 target price on shares of Exelixis in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on shares of Exelixis from $32.00 to $36.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.44.

About Exelixis

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.