Wellington Management Group LLP Reduces Position in Exelixis, Inc. (NASDAQ:EXEL)

Wellington Management Group LLP trimmed its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 43.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 138,408 shares of the biotechnology company's stock after selling 106,934 shares during the quarter. Wellington Management Group LLP's holdings in Exelixis were worth $4,609,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Exelixis in the fourth quarter valued at $94,867,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Exelixis by 104.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company's stock worth $105,208,000 after buying an additional 1,613,482 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Exelixis by 82.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company's stock worth $52,884,000 after acquiring an additional 704,786 shares in the last quarter. Globeflex Capital L P lifted its stake in shares of Exelixis by 203.8% in the fourth quarter. Globeflex Capital L P now owns 975,151 shares of the biotechnology company's stock valued at $32,473,000 after purchasing an additional 654,200 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Exelixis during the 4th quarter valued at approximately $17,046,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Citigroup lifted their price target on Exelixis from $38.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. BMO Capital Markets downgraded shares of Exelixis from an "outperform" rating to a "market perform" rating and upped their price target for the company from $36.00 to $40.00 in a report on Friday, December 20th. Guggenheim reissued a "buy" rating and set a $42.00 price objective on shares of Exelixis in a research note on Wednesday, February 12th. Stifel Nicolaus upped their target price on Exelixis from $30.00 to $36.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley upgraded Exelixis from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $30.00 to $40.00 in a report on Monday, January 27th. One 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 data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.59.

Insider Buying and Selling at Exelixis

In related news, EVP Patrick J. Haley sold 52,636 shares of the business's 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 transaction, the executive vice president now directly owns 303,310 shares of the company's stock, valued at approximately $11,216,403.80. The trade was a 14.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $34.88, for a total transaction of $425,884.80. Following the completion of the sale, the director now directly owns 30,406 shares of the company's stock, valued at $1,060,561.28. This trade represents a 28.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock valued at $5,177,234 over the last ninety days. Corporate insiders own 2.85% of the company's stock.

Exelixis Trading Up 2.2 %

Shares of EXEL traded up $0.80 during mid-day trading on Tuesday, reaching $36.54. The company had a trading volume of 2,242,333 shares, compared to its average volume of 2,174,328. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The firm has a fifty day simple moving average of $36.21 and a 200-day simple moving average of $34.08. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $40.02.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal 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.