Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 50.7% during the third quarter, HoldingsChannel reports. The firm owned 24,903 shares of the biotechnology company’s stock after selling 25,594 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Exelixis were worth $646,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in EXEL. Farallon Capital Management LLC increased its position in Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after acquiring an additional 424,000 shares during the period. Renaissance Technologies LLC raised its stake in shares of Exelixis by 0.4% during the second quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock worth $340,714,000 after purchasing an additional 61,350 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Exelixis by 107.7% during the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after purchasing an additional 2,989,021 shares during the period. Dimensional Fund Advisors LP grew its position in Exelixis by 7.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock valued at $115,434,000 after buying an additional 349,837 shares during the last quarter. Finally, AQR Capital Management LLC increased 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 buying an additional 370,199 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $34.45 on Friday. The business’s fifty day moving average price is $29.04 and its two-hundred day moving average price is $25.14. The stock has a market cap of $9.84 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 0.89 and a beta of 0.51. Exelixis, Inc. has a one year low of $19.20 and a one year high of $36.60.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 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 business had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same quarter last year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that Exelixis, Inc. will post 1.68 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In other Exelixis news, Director George Poste sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the transaction, the director now directly owns 169,020 shares of the company’s stock, valued at $5,746,680. This represents a 15.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dana Aftab sold 1,162 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the transaction, the executive vice president now directly owns 498,945 shares in the company, valued at $15,666,873. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 248,148 shares of company stock worth $8,042,547 over the last ninety days. 2.85% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on EXEL. TD Cowen raised their target price on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Truist Financial lifted their price objective on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley increased their target price on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Wells Fargo & Company lifted their price target on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler increased their price objective on Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.44.

About Exelixis

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.