Concurrent Investment Advisors LLC Has $1.24 Million Holdings in Exelixis, Inc. $EXEL

Concurrent Investment Advisors LLC decreased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 38.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 22,791 shares of the biotechnology company’s stock after selling 14,196 shares during the period. Concurrent Investment Advisors LLC’s holdings in Exelixis were worth $1,240,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EXEL. Continuum Advisory LLC bought a new position in shares of Exelixis in the second quarter valued at $76,000. Nykredit A S bought a new stake in shares of Exelixis during the second quarter worth about $474,000. Legacy Financial Advisors Inc. bought a new stake in shares of Exelixis during the second quarter worth about $257,000. BTG Pactual Asset Management US LLC acquired a new stake in shares of Exelixis in the 2nd quarter worth about $374,000. Finally, Greenleaf Trust acquired a new stake in shares of Exelixis in the 2nd quarter worth about $248,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EXEL shares. Barclays lifted their price target on Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. HC Wainwright reissued a “buy” rating and issued a $56.00 price objective on shares of Exelixis in a research note on Thursday, July 2nd. Royal Bank Of Canada raised their target price on Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Morgan Stanley lifted their target price on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Leerink Partners downgraded Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price target for the company. in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $50.07.

Exelixis Stock Performance

Exelixis stock opened at $57.43 on Friday. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $59.72. The firm’s 50-day simple moving average is $55.34 and its 200 day simple moving average is $49.94. The stock has a market cap of $14.23 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 1.73 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The firm had revenue of $628.69 million during the quarter, compared to analyst estimates of $636.40 million. During the same quarter last year, the business posted $0.75 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts predict that Exelixis, Inc. will post 3.19 EPS for the current fiscal year.

Insider Activity at Exelixis

In related news, Director Mary Beckerle sold 9,812 shares of Exelixis stock in a transaction on Monday, August 10th. The stock was sold at an average price of $53.66, for a total transaction of $526,511.92. Following the sale, the director directly owned 16,079 shares in the company, valued at approximately $862,799.14. This trade represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.60% of the company’s stock.

Exelixis Profile

Exelixis, Inc (NASDAQ: EXEL) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company’s research and development activities center on targeted therapies designed to address biological pathways involved in tumor growth and progression.

Exelixis’ principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with advanced renal cell carcinoma, hepatocellular carcinoma and radioactive iodine-refractory differentiated thyroid cancer.