Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. decreased its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 36.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,208 shares of the biotechnology company's stock after selling 41,577 shares during the period. Edgestream Partners L.P.'s holdings in Exelixis were worth $1,900,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXEL. Covestor Ltd grew its position in shares of Exelixis by 5.7% in the third quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company's stock valued at $164,000 after purchasing an additional 341 shares during the last quarter. Resonant Capital Advisors LLC lifted its stake in shares of Exelixis by 3.6% in the 2nd quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company's stock valued at $309,000 after acquiring an additional 477 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its stake in shares of Exelixis by 1.1% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company's stock valued at $1,135,000 after acquiring an additional 539 shares during the last quarter. Creative Planning raised its position in Exelixis by 0.8% during the 2nd quarter. Creative Planning now owns 71,700 shares of the biotechnology company's stock worth $1,611,000 after purchasing an additional 548 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Exelixis by 3.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company's stock worth $515,000 after purchasing an additional 609 shares during the last quarter. Institutional investors own 85.27% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. BMO Capital Markets increased their price target on Exelixis from $29.00 to $36.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Stephens lifted their price target on Exelixis from $23.00 to $29.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. UBS Group initiated coverage on Exelixis in a research note on Thursday, September 19th. They set a "neutral" rating and a $30.00 price target for the company. HC Wainwright reissued a "buy" rating and set a $29.00 target price on shares of Exelixis in a research report on Wednesday, September 18th. Finally, The Goldman Sachs Group raised shares of Exelixis to a "strong sell" rating in a research report on Tuesday, October 15th. One equities research 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.44.

Insider Activity at Exelixis

In other news, EVP Dana Aftab sold 1,162 shares of the company's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the sale, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the company's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $26.38, for a total value of $659,500.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 339,736 shares of company stock valued at $11,508,610 in the last ninety days. Corporate insiders own 2.85% of the company's stock.

Exelixis Stock Performance

NASDAQ EXEL traded up $0.51 on Wednesday, reaching $35.77. 1,662,475 shares of the stock traded hands, compared to its average volume of 2,068,694. The company has a fifty day moving average price of $31.18 and a 200-day moving average price of $26.35. The company has a market cap of $10.22 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 0.90 and a beta of 0.52. Exelixis, Inc. has a 12 month low of $19.20 and a 12 month high of $36.97.

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

Exelixis Company 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.