Wellington Management Group LLP Has $6.37 Million Stake in Exelixis, Inc. (NASDAQ:EXEL)

Wellington Management Group LLP lowered its position in Exelixis, Inc. (NASDAQ:EXEL) by 33.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 245,342 shares of the biotechnology company’s stock after selling 124,537 shares during the quarter. Wellington Management Group LLP owned approximately 0.09% of Exelixis worth $6,367,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of EXEL. LSV Asset Management lifted its stake in Exelixis by 107.7% in the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after purchasing an additional 2,989,021 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Exelixis by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after buying an additional 991,494 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Exelixis during the 3rd quarter worth approximately $14,979,000. Farallon Capital Management LLC increased its holdings in shares of Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after acquiring an additional 424,000 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Exelixis by 12.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after acquiring an additional 370,199 shares during the period. Institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. This represents a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 41,588 shares of Exelixis stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.36, for a total value of $1,428,963.68. Following the transaction, the executive vice president now directly owns 288,665 shares in the company, valued at approximately $9,918,529.40. The trade was a 12.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 339,736 shares of company stock worth $11,508,610. Corporate insiders own 2.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on EXEL shares. TD Cowen lifted their price objective on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Stephens upped their price target on shares of Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Guggenheim raised their price objective on shares of Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $34.00 price target on shares of Exelixis in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.47.

Exelixis Stock Up 3.0 %

Shares of NASDAQ EXEL opened at $36.07 on Tuesday. The company has a market capitalization of $10.30 billion, a PE ratio of 23.12, a P/E/G ratio of 0.89 and a beta of 0.52. The firm has a fifty day simple moving average of $32.85 and a 200 day simple moving average of $27.29. Exelixis, Inc. has a twelve month low of $19.20 and a twelve month high of $36.97.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. During the same period in the previous year, the business earned $0.10 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts expect that Exelixis, Inc. will post 1.69 earnings per share 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.