Massachusetts Financial Services Co. MA Has $8.77 Million Position in Exelixis, Inc. (NASDAQ:EXEL)

Massachusetts Financial Services Co. MA trimmed its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 263,217 shares of the biotechnology company's stock after selling 63,037 shares during the period. Massachusetts Financial Services Co. MA owned 0.09% of Exelixis worth $8,765,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in EXEL. Principal Securities Inc. grew its holdings in shares of Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock valued at $32,000 after buying an additional 373 shares in the last quarter. USA Financial Formulas purchased a new position in Exelixis during the 4th quarter valued at about $32,000. Kestra Investment Management LLC acquired a new position in shares of Exelixis in the 4th quarter valued at about $39,000. UMB Bank n.a. increased its holdings in shares of Exelixis by 68.4% in the 4th 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 during the period. Finally, Crowley Wealth Management Inc. purchased a new stake in shares of Exelixis in the fourth quarter worth approximately $50,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Trading Up 2.5 %

Exelixis stock traded up $0.85 on Friday, reaching $35.31. 2,146,139 shares of the stock were exchanged, compared to its average volume of 2,174,346. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $40.02. The firm has a fifty day moving average price of $36.16 and a two-hundred day moving average price of $33.95. The stock has a market cap of $9.88 billion, a PE ratio of 19.95, a PEG ratio of 1.13 and a beta of 0.57.

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Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results 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%. Equities analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EXEL. Bank of America lowered shares of Exelixis from a "buy" rating to a "neutral" rating and upped their price objective for the company from $35.00 to $39.00 in a research note on Tuesday, December 17th. BMO Capital Markets downgraded shares of Exelixis from an "outperform" rating to a "market perform" rating and upped their price target for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. Wells Fargo & Company cut Exelixis from an "overweight" rating to an "equal weight" rating and set a $36.00 price objective for the company. in a research report on Monday, February 24th. Stifel Nicolaus upped their target price on Exelixis from $30.00 to $36.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley upgraded Exelixis from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $30.00 to $40.00 in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $37.59.

Insider Activity at Exelixis

In other news, EVP Patrick J. Haley sold 10,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $38.80, for a total transaction of $388,000.00. Following the sale, the executive vice president now directly owns 341,028 shares in the company, valued at approximately $13,231,886.40. The trade was a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 30,406 shares of the company's stock, valued at approximately $1,060,561.28. This trade represents 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 worth $5,177,234 in the last ninety days. 2.85% of the stock is currently owned by insiders.

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.