Alliancebernstein L.P. Sells 14,245 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Alliancebernstein L.P. lessened its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 390,775 shares of the biotechnology company's stock after selling 14,245 shares during the quarter. Alliancebernstein L.P. owned 0.14% of Exelixis worth $13,013,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in shares of Exelixis by 1.0% in the 3rd quarter. Janus Henderson Group PLC now owns 123,347 shares of the biotechnology company's stock valued at $3,200,000 after buying an additional 1,201 shares during the period. Kovitz Investment Group Partners LLC bought a new position in Exelixis in the third quarter worth about $421,000. EP Wealth Advisors LLC acquired a new position in Exelixis in the third quarter valued at approximately $306,000. MML Investors Services LLC grew its holdings in shares of Exelixis by 9.9% during the third quarter. MML Investors Services LLC now owns 22,958 shares of the biotechnology company's stock valued at $596,000 after purchasing an additional 2,077 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of Exelixis by 12.7% during the 3rd quarter. M&T Bank Corp now owns 14,433 shares of the biotechnology company's stock worth $374,000 after purchasing an additional 1,621 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on EXEL. UBS Group boosted their target price on shares of Exelixis from $30.00 to $34.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Piper Sandler increased their price objective on Exelixis from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Citigroup lifted their target price on Exelixis from $38.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. BMO Capital Markets cut Exelixis from an "outperform" rating to a "market perform" rating and increased their price target for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. Finally, Bank of America cut shares of Exelixis from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $35.00 to $39.00 in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $37.59.

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Exelixis Stock Performance

EXEL stock traded up $0.56 during mid-day trading on Tuesday, hitting $36.30. 475,508 shares of the company were exchanged, compared to its average volume of 2,167,937. The firm's 50 day simple moving average is $36.21 and its 200 day simple moving average is $34.08. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $40.02. The firm has a market cap of $10.16 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. On average, equities research analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Insider Activity at Exelixis

In related news, EVP Patrick J. Haley sold 52,636 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the transaction, the executive vice president now directly owns 303,310 shares of the company's stock, valued at approximately $11,216,403.80. This trade represents a 14.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bob Oliver sold 18,647 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $37.25, for a total transaction of $694,600.75. Following the transaction, the director now directly owns 33,514 shares in the company, valued at $1,248,396.50. This represents a 35.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,343 shares of company stock worth $5,177,234. Company insiders own 2.85% of the company's stock.

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.