Legal & General Group Plc Decreases Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Legal & General Group Plc reduced its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 576,058 shares of the biotechnology company's stock after selling 27,755 shares during the quarter. Legal & General Group Plc owned 0.20% of Exelixis worth $19,183,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in EXEL. Invesco Ltd. boosted its stake in Exelixis by 308.1% in the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company's stock valued at $132,376,000 after acquiring an additional 3,001,204 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Exelixis by 163.9% in the 4th quarter. Cerity Partners LLC now owns 73,884 shares of the biotechnology company's stock worth $2,413,000 after purchasing an additional 45,890 shares during the period. FMR LLC lifted its stake in Exelixis by 19.7% in the fourth quarter. FMR LLC now owns 2,947,599 shares of the biotechnology company's stock valued at $98,155,000 after purchasing an additional 485,527 shares during the last quarter. Federated Hermes Inc. lifted its stake in Exelixis by 82.9% in the fourth quarter. Federated Hermes Inc. now owns 408,932 shares of the biotechnology company's stock valued at $13,637,000 after purchasing an additional 185,389 shares during the last quarter. Finally, Hurley Capital LLC bought a new position in Exelixis during the fourth quarter valued at $68,000. Institutional investors own 85.27% of the company's stock.

Exelixis Price Performance

Shares of EXEL opened at $35.74 on Tuesday. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $40.02. The company has a market capitalization of $10.00 billion, a P/E ratio of 20.19, a P/E/G ratio of 1.13 and a beta of 0.57. The firm's 50 day simple moving average is $36.21 and its 200 day simple moving average is $34.08.

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Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share 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 analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Bob Oliver sold 18,647 shares of Exelixis stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $37.25, for a total value of $694,600.75. Following the transaction, the director now owns 33,514 shares in the company, valued at $1,248,396.50. This trade represents a 35.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $34.88, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,343 shares of company stock valued at $5,177,234 over the last 90 days. Insiders own 2.85% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group upped their price target on Exelixis from $30.00 to $34.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. StockNews.com raised shares of Exelixis from a "buy" rating to a "strong-buy" rating in a report on Wednesday, February 19th. Guggenheim reiterated a "buy" rating and set a $42.00 target price on shares of Exelixis in a research report on Wednesday, February 12th. Barclays boosted 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. Finally, Citigroup raised their price objective on shares of Exelixis from $38.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $37.59.

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.

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