Janney Montgomery Scott LLC Decreases Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Janney Montgomery Scott LLC trimmed its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 48.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,399 shares of the biotechnology company's stock after selling 28,418 shares during the quarter. Janney Montgomery Scott LLC's holdings in Exelixis were worth $789,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in Exelixis in the third quarter valued at $30,000. Park Place Capital Corp purchased a new stake in Exelixis in the 2nd quarter valued at $45,000. GAMMA Investing LLC boosted its stake in Exelixis by 107.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company's stock worth $45,000 after purchasing an additional 1,041 shares during the period. EntryPoint Capital LLC grew its position in Exelixis by 537.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company's stock worth $49,000 after purchasing an additional 1,746 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in Exelixis in the third quarter valued at $74,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Exelixis

In related news, Director George Poste sold 30,000 shares of the business's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the sale, the director now directly owns 169,020 shares in the company, valued at approximately $5,746,680. The trade was a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the transaction, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 248,148 shares of company stock worth $8,042,547 over the last ninety days. 2.85% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

EXEL has been the topic of a number of research reports. Stephens raised their price target on Exelixis from $23.00 to $29.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price target on Exelixis from $32.00 to $36.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Piper Sandler lifted their price objective on shares of Exelixis from $33.00 to $36.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price objective on shares of Exelixis from $26.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $34.00 target price on shares of Exelixis in a report on Wednesday, October 30th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Exelixis currently has an average rating of "Moderate Buy" and a consensus target price of $31.44.

Exelixis Stock Up 0.2 %

Shares of Exelixis stock traded up $0.07 during trading on Monday, hitting $34.52. 1,801,742 shares of the company were exchanged, compared to its average volume of 2,080,847. Exelixis, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $36.60. The firm has a 50 day moving average price of $29.04 and a 200 day moving average price of $25.17. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 0.88 and a beta of 0.51.

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