Castleark Management LLC Sells 61,814 Shares of Exelixis, Inc. (EXEL)
Castleark Management LLC trimmed its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 11.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 478,756 shares of the biotechnology company’s stock after selling 61,814 shares during the quarter. Castleark Management LLC owned 0.16% of Exelixis worth $11,792,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. First Quadrant L P CA purchased a new stake in shares of Exelixis during the 2nd quarter valued at about $144,000. Meeder Asset Management Inc. purchased a new stake in shares of Exelixis during the 1st quarter valued at about $170,000. Wetherby Asset Management Inc. purchased a new stake in shares of Exelixis during the 2nd quarter valued at about $218,000. Caxton Associates LP purchased a new stake in shares of Exelixis during the 2nd quarter valued at about $227,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Exelixis during the 2nd quarter valued at about $247,000. Hedge funds and other institutional investors own 79.20% of the company’s stock.
EXEL has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Tuesday, July 4th. BidaskClub upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. Deutsche Bank AG cut shares of Exelixis from a “buy” rating to a “hold” rating and upped their target price for the company from $26.00 to $29.00 in a research report on Thursday, August 3rd. Stifel Nicolaus restated a “hold” rating and set a $26.00 target price on shares of Exelixis in a research report on Thursday, September 7th. Finally, SunTrust Banks, Inc. started coverage on shares of Exelixis in a research report on Thursday, July 13th. They set a “buy” rating and a $33.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Exelixis has a consensus rating of “Buy” and a consensus price target of $29.50.
Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The company had revenue of $99.01 million for the quarter, compared to the consensus estimate of $85.27 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. Exelixis’s quarterly revenue was up 173.1% compared to the same quarter last year.
In other Exelixis news, insider Gisela Schwab sold 100,000 shares of Exelixis stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $23.79, for a total transaction of $2,379,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stelios Papadopoulos sold 72,210 shares of Exelixis stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $27.76, for a total transaction of $2,004,549.60. The disclosure for this sale can be found here. Insiders have sold 970,152 shares of company stock worth $25,923,457 over the last ninety days. 5.10% of the stock is owned by insiders.
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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