Moran Wealth Management LLC Trims Holdings in Exelixis, Inc. $EXEL

Moran Wealth Management LLC decreased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 24.7% in the third quarter, HoldingsChannel reports. The firm owned 71,817 shares of the biotechnology company’s stock after selling 23,495 shares during the quarter. Moran Wealth Management LLC’s holdings in Exelixis were worth $2,966,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Truist Financial Corp increased its stake in shares of Exelixis by 1.1% during the second quarter. Truist Financial Corp now owns 22,292 shares of the biotechnology company’s stock valued at $983,000 after buying an additional 250 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in Exelixis by 0.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock valued at $4,521,000 after acquiring an additional 274 shares in the last quarter. Plato Investment Management Ltd increased its position in Exelixis by 6.5% during the 2nd quarter. Plato Investment Management Ltd now owns 6,174 shares of the biotechnology company’s stock valued at $271,000 after purchasing an additional 377 shares during the period. Stratos Wealth Partners LTD. increased its position in Exelixis by 6.3% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 6,726 shares of the biotechnology company’s stock valued at $296,000 after purchasing an additional 399 shares during the period. Finally, Byrne Asset Management LLC raised its holdings in Exelixis by 129.0% in the 2nd quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 400 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Exelixis Trading Down 0.2%

EXEL stock opened at $44.04 on Friday. The stock has a market capitalization of $11.81 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 0.81 and a beta of 0.40. Exelixis, Inc. has a 12-month low of $31.90 and a 12-month high of $49.62. The stock’s 50 day simple moving average is $43.03 and its 200 day simple moving average is $41.12.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.The business had revenue of $597.76 million during the quarter, compared to analyst estimates of $590.04 million. During the same quarter last year, the company earned $0.47 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, research analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insiders Place Their Bets

In other Exelixis news, EVP Patrick J. Haley sold 28,043 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $42.58, for a total value of $1,194,070.94. Following the completion of the transaction, the executive vice president owned 374,029 shares of the company’s stock, valued at approximately $15,926,154.82. The trade was a 6.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary C. Beckerle sold 24,622 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $41.93, for a total transaction of $1,032,400.46. Following the transaction, the director owned 21,380 shares in the company, valued at $896,463.40. This represents a 53.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 245,235 shares of company stock valued at $10,490,600 over the last quarter. Corporate insiders own 2.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Oppenheimer reiterated a “market perform” rating and set a $36.00 price target on shares of Exelixis in a research report on Wednesday, November 5th. Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 14th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $45.00 target price on shares of Exelixis in a report on Tuesday, October 21st. The Goldman Sachs Group started coverage on Exelixis in a research note on Wednesday, September 17th. They issued a “buy” rating and a $47.00 target price for the company. Finally, Barclays lifted their price target on Exelixis from $40.00 to $41.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Exelixis currently has an average rating of “Hold” and a consensus target price of $45.84.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.