Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 821,309 shares of the biotechnology company's stock after selling 53,161 shares during the period. Pictet Asset Management Holding SA owned approximately 0.29% of Exelixis worth $27,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. USA Financial Formulas acquired a new position in Exelixis during the 4th quarter worth about $32,000. Principal Securities Inc. lifted its position in shares of Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 373 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Exelixis in the fourth quarter valued at approximately $39,000. UMB Bank n.a. grew its holdings in shares of Exelixis by 68.4% in the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock valued at $45,000 after purchasing an additional 553 shares in the last quarter. Finally, Crowley Wealth Management Inc. purchased a new stake in Exelixis during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Price Performance

Shares of EXEL stock traded down $2.11 during trading hours on Friday, hitting $34.57. The stock had a trading volume of 2,944,993 shares, compared to its average volume of 2,149,678. The stock's 50 day moving average is $35.90 and its 200 day moving average is $33.60. The firm has a market capitalization of $9.68 billion, a PE ratio of 19.53, a PEG ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $40.02.

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Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. As a group, equities analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays raised their price target on shares of Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a research report on Thursday, February 13th. Wells Fargo & Company lowered Exelixis from an "overweight" rating to an "equal weight" rating and set a $36.00 price target on the stock. in a research report on Monday, February 24th. Citigroup boosted their price objective on Exelixis from $38.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Royal Bank of Canada raised their target price on shares of Exelixis from $38.00 to $40.00 and gave the company an "outperform" rating in a report on Thursday, March 13th. Finally, HC Wainwright reiterated a "buy" rating and set a $40.00 price target on shares of Exelixis in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $37.59.

Insider Activity at Exelixis

In other Exelixis news, Director Mary C. Beckerle sold 12,210 shares of Exelixis stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $34.88, for a total value of $425,884.80. Following the sale, the director now owns 30,406 shares of the company's stock, valued at approximately $1,060,561.28. The trade was a 28.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Haley sold 52,636 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.98, for a total value of $1,946,479.28. Following the transaction, the executive vice president now directly owns 303,310 shares in the company, valued at $11,216,403.80. This represents a 14.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock worth $5,177,234 in the last quarter. Company insiders own 2.85% of the company's stock.

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.