Marietta Investment Partners LLC Sells 58,211 Shares of Exelixis, Inc. $EXEL

Marietta Investment Partners LLC cut its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 75.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,584 shares of the biotechnology company’s stock after selling 58,211 shares during the period. Marietta Investment Partners LLC’s holdings in Exelixis were worth $815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in shares of Exelixis by 111.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,115,456 shares of the biotechnology company’s stock valued at $92,720,000 after buying an additional 1,113,916 shares during the period. Peak Retirement Planning Inc. grew its stake in shares of Exelixis by 10.7% in the 4th quarter. Peak Retirement Planning Inc. now owns 62,506 shares of the biotechnology company’s stock valued at $2,740,000 after buying an additional 6,031 shares during the period. Natixis Advisors LLC grew its stake in shares of Exelixis by 6.4% in the 4th quarter. Natixis Advisors LLC now owns 77,204 shares of the biotechnology company’s stock valued at $3,384,000 after buying an additional 4,646 shares during the period. Rothschild Wealth LLC acquired a new stake in shares of Exelixis in the 4th quarter valued at about $382,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Exelixis by 79.5% in the 4th quarter. BNP Paribas Financial Markets now owns 1,117,936 shares of the biotechnology company’s stock valued at $48,999,000 after buying an additional 495,247 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EXEL. Truist Financial upgraded Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. HC Wainwright raised their target price on Exelixis from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wells Fargo & Company raised their target price on Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley raised their target price on Exelixis from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $47.35.

Exelixis Stock Performance

EXEL stock opened at $51.60 on Thursday. The company has a market capitalization of $12.97 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.02 and a beta of 0.41. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $52.96. The business has a 50-day simple moving average of $46.54 and a two-hundred day simple moving average of $44.39.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. The business had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. As a group, sell-side analysts forecast that Exelixis, Inc. will post 3.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 32,110 shares of Exelixis stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the transaction, the executive vice president owned 357,638 shares in the company, valued at approximately $17,813,948.78. The trade was a 8.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dana Aftab sold 43,451 shares of Exelixis stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total value of $2,187,757.85. Following the transaction, the executive vice president owned 594,741 shares of the company’s stock, valued at $29,945,209.35. This trade represents a 6.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 219,170 shares of company stock worth $10,620,641. 2.60% of the stock is currently owned by corporate insiders.

About Exelixis

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.