Nisa Investment Advisors LLC Reduces Holdings in Exelixis, Inc. $EXEL

Nisa Investment Advisors LLC reduced its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 3.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 104,136 shares of the biotechnology company’s stock after selling 3,338 shares during the period. Nisa Investment Advisors LLC’s holdings in Exelixis were worth $4,590,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in EXEL. Hemington Wealth Management increased its holdings in Exelixis by 211.3% during the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 522 shares in the last quarter. Byrne Asset Management LLC grew its holdings in shares of Exelixis by 129.0% during the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after buying an additional 400 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in shares of Exelixis during the second quarter worth about $33,000. Costello Asset Management INC purchased a new stake in shares of Exelixis during the first quarter worth about $39,000. Finally, Harbour Investments Inc. grew its holdings in shares of Exelixis by 900.0% during the first quarter. Harbour Investments Inc. now owns 1,100 shares of the biotechnology company’s stock worth $41,000 after buying an additional 990 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Up 0.2%

EXEL opened at $40.08 on Wednesday. Exelixis, Inc. has a 52-week low of $28.30 and a 52-week high of $49.62. The company has a 50 day moving average of $38.77 and a two-hundred day moving average of $40.19. The company has a market cap of $10.79 billion, a P/E ratio of 19.27, a P/E/G ratio of 0.80 and a beta of 0.38.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.12. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The company had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. During the same period in the previous year, the firm earned $0.84 earnings per share. Exelixis’s revenue for the quarter was down 10.8% on a year-over-year basis. Research analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup reiterated a “market outperform” rating on shares of Exelixis in a report on Tuesday, October 21st. Stifel Nicolaus lifted their price target on shares of Exelixis from $38.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, July 29th. HC Wainwright lowered their price target on shares of Exelixis from $53.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Leerink Partnrs upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Finally, JMP Securities reissued a “market outperform” rating and issued a $50.00 target price on shares of Exelixis in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $44.53.

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.