Bank of Montreal Can Trims Position in Exelixis, Inc. (NASDAQ:EXEL)

Bank of Montreal Can decreased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 41.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 68,889 shares of the biotechnology company’s stock after selling 47,871 shares during the quarter. Bank of Montreal Can’s holdings in Exelixis were worth $1,549,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EXEL. Fisher Asset Management LLC lifted its position in Exelixis by 232.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 728 shares during the period. Rise Advisors LLC acquired a new stake in shares of Exelixis during the first quarter worth $28,000. Park Place Capital Corp purchased a new position in Exelixis in the 2nd quarter valued at $45,000. GAMMA Investing LLC increased its stake in Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 1,041 shares during the period. Finally, EntryPoint Capital LLC raised its position in Exelixis by 537.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after buying an additional 1,746 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Activity at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the transaction, the executive vice president now owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the sale, the executive vice president now directly owns 605,325 shares of the company’s stock, valued at $15,968,473.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maria C. Freire sold 8,250 shares of Exelixis stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total transaction of $219,120.00. Following the sale, the director now owns 91,007 shares of the company’s stock, valued at approximately $2,417,145.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,858 shares of company stock valued at $8,640,129. 2.85% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on EXEL shares. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 target price on shares of Exelixis in a report on Wednesday, September 18th. JMP Securities reiterated a “market outperform” rating and set a $29.00 target price on shares of Exelixis in a research report on Friday, September 20th. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Royal Bank of Canada lifted their price target on Exelixis from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Truist Financial reiterated a “buy” rating and issued a $33.00 price objective (up previously from $32.00) on shares of Exelixis in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and a consensus target price of $27.87.

Exelixis Stock Up 1.6 %

Exelixis stock opened at $26.66 on Friday. The firm has a market capitalization of $8.08 billion, a PE ratio of 41.66, a P/E/G ratio of 0.56 and a beta of 0.54. Exelixis, Inc. has a 52 week low of $18.64 and a 52 week high of $27.83. The firm’s 50-day simple moving average is $25.85 and its 200 day simple moving average is $23.57.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The company had revenue of $637.18 million for the quarter, compared to the consensus estimate of $468.21 million. On average, research analysts expect that Exelixis, Inc. will post 1.59 EPS 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.