Victory Capital Management Inc. Sells 52,528 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Victory Capital Management Inc. decreased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 38.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,650 shares of the biotechnology company's stock after selling 52,528 shares during the quarter. Victory Capital Management Inc.'s holdings in Exelixis were worth $2,786,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXEL. CIBC Asset Management Inc acquired a new stake in Exelixis during the third quarter worth about $227,000. Natixis Advisors LLC increased its stake in shares of Exelixis by 26.2% in the third quarter. Natixis Advisors LLC now owns 29,113 shares of the biotechnology company's stock valued at $755,000 after purchasing an additional 6,051 shares during the period. Seizert Capital Partners LLC increased its stake in shares of Exelixis by 8.0% in the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company's stock valued at $12,195,000 after purchasing an additional 34,875 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Exelixis in the third quarter valued at approximately $1,972,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Exelixis by 3.2% in the third quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company's stock valued at $515,000 after purchasing an additional 609 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have commented on EXEL shares. Bank of America lowered shares of Exelixis from a "buy" rating to a "neutral" rating and raised their price target for the company from $35.00 to $39.00 in a research note on Tuesday, December 17th. Barclays upped 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. UBS Group increased their target price on shares of Exelixis from $30.00 to $34.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. HC Wainwright restated a "buy" rating and set a $40.00 price target on shares of Exelixis in a report on Thursday, February 13th. Finally, Royal Bank of Canada raised their price target on shares of Exelixis from $38.00 to $40.00 and gave the company an "outperform" rating in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Exelixis currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.59.

Insider Activity at Exelixis

In other Exelixis news, Director Mary C. Beckerle sold 12,210 shares of the business's stock in a transaction dated Friday, February 14th. The shares were 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. The trade was a 28.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 52,636 shares of Exelixis stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the sale, the executive vice president now owns 303,310 shares of the company's stock, valued at approximately $11,216,403.80. This represents a 14.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,343 shares of company stock valued at $5,177,234 in the last ninety days. Insiders own 2.85% of the company's stock.

Exelixis Price Performance

Shares of Exelixis stock traded down $0.63 during trading on Tuesday, hitting $36.39. 855,494 shares of the company's stock traded hands, compared to its average volume of 2,067,000. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $40.02. The company has a market cap of $10.19 billion, a PE ratio of 20.57, a PEG ratio of 1.13 and a beta of 0.57. The firm's fifty day moving average price is $35.44 and its 200 day moving average price is $32.60.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (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%. As a group, equities research analysts anticipate that Exelixis, Inc. will post 2.04 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.