Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lessened its stake in Exelixis, Inc. (NASDAQ:EXEL) by 12.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,667 shares of the biotechnology company’s stock after selling 3,647 shares during the quarter. New York Life Investment Management LLC’s holdings in Exelixis were worth $888,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Seizert Capital Partners LLC lifted its holdings in shares of Exelixis by 8.0% during the 3rd quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock valued at $12,195,000 after acquiring an additional 34,875 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Exelixis by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after buying an additional 991,494 shares in the last quarter. Tri Ri Asset Management Corp acquired a new position in Exelixis in the 3rd quarter worth $4,396,000. CWA Asset Management Group LLC acquired a new position in Exelixis in the 3rd quarter worth $577,000. Finally, Blue Trust Inc. lifted its holdings in Exelixis by 134.7% in the 4th 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.

Wall Street Analyst Weigh In

EXEL has been the topic of a number of recent analyst reports. Morgan Stanley upgraded shares of Exelixis from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $30.00 to $40.00 in a report on Monday, January 27th. JMP Securities reissued a “market outperform” rating and issued a $41.00 target price on shares of Exelixis in a research report on Thursday, January 23rd. Stifel Nicolaus boosted their target price on shares of Exelixis from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Exelixis in a research report on Thursday, February 13th. Finally, Wells Fargo & Company downgraded shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 target price for the company. in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.24.

Insider Transactions at Exelixis

In other news, EVP Patrick J. Haley sold 52,636 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $36.98, for a total value of $1,946,479.28. Following the completion of the sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bob Oliver sold 18,647 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $37.25, for a total transaction of $694,600.75. Following the completion of the sale, the director now directly owns 33,514 shares of the company’s stock, valued at approximately $1,248,396.50. This represents a 35.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 130,343 shares of company stock valued at $4,789,234. Company insiders own 2.85% of the company’s stock.

Exelixis Trading Down 0.4 %

NASDAQ EXEL opened at $38.55 on Tuesday. Exelixis, Inc. has a 52 week low of $20.14 and a 52 week high of $39.30. The stock has a market cap of $10.79 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 1.13 and a beta of 0.53. The company has a 50-day moving average price of $34.63 and a two-hundred day moving average price of $31.78.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. As a group, equities research analysts expect that Exelixis, Inc. will post 2.04 earnings per share 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.