BTC Capital Management Inc. Sells 821 Shares of Exelixis, Inc. (NASDAQ:EXEL)

BTC Capital Management Inc. reduced its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 6.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,601 shares of the biotechnology company’s stock after selling 821 shares during the quarter. BTC Capital Management Inc.’s holdings in Exelixis were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Milestone Asset Management LLC boosted its holdings in Exelixis by 21.6% in the 4th quarter. Milestone Asset Management LLC now owns 32,777 shares of the biotechnology company’s stock valued at $1,091,000 after purchasing an additional 5,828 shares during the period. Smith Group Asset Management LLC bought a new stake in shares of Exelixis during the 4th quarter valued at $305,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Exelixis by 4.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 505,289 shares of the biotechnology company’s stock worth $16,826,000 after purchasing an additional 22,225 shares in the last quarter. KBC Group NV raised its stake in Exelixis by 46.4% in the fourth quarter. KBC Group NV now owns 10,514 shares of the biotechnology company’s stock valued at $350,000 after purchasing an additional 3,332 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Exelixis by 134.7% during the fourth quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company’s stock worth $476,000 after buying an additional 8,208 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Stock Performance

Shares of EXEL stock opened at $33.15 on Friday. The company has a market cap of $9.47 billion, a P/E ratio of 21.25, a PEG ratio of 0.72 and a beta of 0.53. Exelixis, Inc. has a fifty-two week low of $20.01 and a fifty-two week high of $37.59. The stock has a 50 day simple moving average of $34.68 and a two-hundred day simple moving average of $30.08.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business’s revenue 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. On average, research analysts predict that Exelixis, Inc. will post 1.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EXEL. BMO Capital Markets lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $36.00 to $40.00 in a research report on Friday, December 20th. Stifel Nicolaus upped their price objective on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Oppenheimer cut Exelixis from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $41.00 to $33.00 in a research report on Friday, January 24th. Wells Fargo & Company increased their target price on shares of Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $41.00 price target on shares of Exelixis in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, seven 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, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $36.06.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 41,588 shares of Exelixis stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the transaction, the executive vice president now owns 288,665 shares of the company’s stock, valued at $9,918,529.40. The trade was a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,574 shares of company stock valued at $7,376,374. 2.85% of the stock is owned by company insiders.

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.