Charles Schwab Investment Management Inc. Decreases Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Charles Schwab Investment Management Inc. cut its stake in Exelixis, Inc. (NASDAQ:EXEL) by 1.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,273,620 shares of the biotechnology company’s stock after selling 33,071 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Exelixis were worth $84,950,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of EXEL. Advisors Asset Management Inc. raised its holdings in shares of Exelixis by 35.6% during the 1st quarter. Advisors Asset Management Inc. now owns 21,014 shares of the biotechnology company’s stock valued at $499,000 after buying an additional 5,513 shares during the period. Lazard Asset Management LLC lifted its position in shares of Exelixis by 26.6% during the first quarter. Lazard Asset Management LLC now owns 37,555 shares of the biotechnology company’s stock worth $890,000 after purchasing an additional 7,891 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Exelixis by 10.0% in the first quarter. Tidal Investments LLC now owns 9,710 shares of the biotechnology company’s stock valued at $230,000 after purchasing an additional 886 shares during the period. Swedbank AB acquired a new stake in Exelixis during the 1st quarter valued at $22,455,000. Finally, Cetera Advisors LLC purchased a new stake in Exelixis during the 1st quarter worth $327,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

EXEL has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Stephens increased their price target on Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial raised their price objective on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. TD Cowen upped their target price on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Stifel Nicolaus raised their price target on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.44.

Insider Buying and Selling

In other Exelixis news, Director George Poste sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now owns 169,020 shares in the company, valued at approximately $5,746,680. The trade was a 15.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the transaction, the executive vice president now directly owns 278,665 shares of the company’s stock, valued at approximately $9,828,514.55. The trade was a 3.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 279,736 shares of company stock valued at $9,308,410 in the last three months. 2.85% of the stock is currently owned by corporate insiders.

Exelixis Stock Performance

Shares of EXEL opened at $35.93 on Thursday. Exelixis, Inc. has a 1 year low of $19.20 and a 1 year high of $36.73. The firm has a fifty day moving average of $30.25 and a 200-day moving average of $25.83. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 0.92 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. During the same quarter in the prior year, the firm earned $0.10 EPS. Exelixis’s quarterly revenue was up 14.3% on a year-over-year basis. Analysts predict that Exelixis, Inc. will post 1.69 EPS for the current 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.