Cresset Asset Management LLC Cuts Position in Exelixis, Inc. $EXEL

Cresset Asset Management LLC decreased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 44.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,140 shares of the biotechnology company’s stock after selling 21,295 shares during the period. Cresset Asset Management LLC’s holdings in Exelixis were worth $1,196,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Byrne Asset Management LLC increased its position in Exelixis by 129.0% during the 2nd quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 400 shares in the last quarter. Luminist Capital LLC grew its stake in shares of Exelixis by 2,740.0% in the second quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 685 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new position in shares of Exelixis during the second quarter valued at $33,000. Steph & Co. purchased a new position in shares of Exelixis in the 2nd quarter worth about $44,000. Finally, Hantz Financial Services Inc. boosted its stake in Exelixis by 940.4% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,134 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 1,025 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research note on Wednesday, October 8th. HC Wainwright raised their price target on shares of Exelixis from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Barclays upped their price objective on Exelixis from $40.00 to $41.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $45.00 target price on shares of Exelixis in a research note on Tuesday, October 21st. Finally, Morgan Stanley boosted their price target on Exelixis from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.45.

Exelixis Stock Down 1.9%

Shares of NASDAQ:EXEL opened at $41.07 on Thursday. The stock has a market capitalization of $11.01 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 0.75 and a beta of 0.40. The firm’s 50 day moving average price is $40.75 and its 200-day moving average price is $40.83. Exelixis, Inc. has a twelve month low of $31.90 and a twelve month high of $49.62.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The business had revenue of $597.76 million during the quarter, compared to analysts’ expectations of $590.04 million. During the same period in the prior year, the company earned $0.47 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. Analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, EVP Patrick J. Haley sold 28,043 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $42.58, for a total transaction of $1,194,070.94. Following the completion of the sale, the executive vice president owned 374,029 shares of the company’s stock, valued at approximately $15,926,154.82. The trade was a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stelios Papadopoulos sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $43.55, for a total value of $4,355,000.00. Following the completion of the sale, the director owned 1,189,228 shares of the company’s stock, valued at approximately $51,790,879.40. The trade was a 7.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 245,235 shares of company stock valued at $10,490,600. Company insiders own 2.82% of the company’s stock.

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.