Range Financial Group LLC Cuts Position in Exelixis, Inc. $EXEL

Range Financial Group LLC lowered its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 82.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,126 shares of the biotechnology company’s stock after selling 32,740 shares during the quarter. Range Financial Group LLC’s holdings in Exelixis were worth $294,000 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 the stock. Byrne Asset Management LLC lifted its stake in shares of Exelixis by 129.0% in the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 400 shares during the period. Luminist Capital LLC increased its holdings in Exelixis by 2,740.0% in the second quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 685 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new position in Exelixis in the second quarter valued at about $33,000. Steph & Co. acquired a new stake in shares of Exelixis during the 2nd quarter valued at approximately $44,000. Finally, Hantz Financial Services Inc. boosted its stake in shares of Exelixis by 940.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,134 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 1,025 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Trading Down 2.9%

NASDAQ:EXEL opened at $44.04 on Wednesday. Exelixis, Inc. has a 12-month low of $31.90 and a 12-month high of $49.62. The firm has a market cap of $11.81 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 0.82 and a beta of 0.40. The company’s 50-day moving average is $42.20 and its two-hundred day moving average is $40.98.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. The business had revenue of $597.76 million during the quarter, compared to analyst estimates of $590.04 million. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.47 earnings per share. On average, equities research analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Exelixis news, EVP Patrick J. Haley sold 34,187 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $41.88, for a total transaction of $1,431,751.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Dana Aftab sold 48,383 shares of Exelixis stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total value of $2,056,277.50. Following the completion of the sale, the executive vice president directly owned 664,778 shares of the company’s stock, valued at approximately $28,253,065. This represents a 6.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 245,235 shares of company stock valued at $10,490,600. Insiders own 2.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley raised their price objective on Exelixis from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Guggenheim cut Exelixis from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Leerink Partners raised Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research note on Tuesday, October 21st. Leerink Partnrs raised shares of Exelixis from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Finally, Stifel Nicolaus set a $43.00 target price on shares of Exelixis in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.74.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.