Harel Insurance Investments & Financial Services Ltd. Sells 16,380 Shares of Exelixis, Inc. $EXEL

Harel Insurance Investments & Financial Services Ltd. trimmed its stake in Exelixis, Inc. (NASDAQ:EXEL) by 28.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,748 shares of the biotechnology company’s stock after selling 16,380 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Exelixis were worth $1,791,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Motiv8 Investments LLC purchased a new stake in Exelixis in the 4th quarter worth approximately $26,000. Acumen Wealth Advisors LLC purchased a new position in Exelixis in the 4th quarter worth approximately $29,000. Activest Wealth Management bought a new position in Exelixis in the 4th quarter worth approximately $32,000. Northwestern Mutual Wealth Management Co. grew its holdings in Exelixis by 1,380.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 773 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in Exelixis during the 4th quarter valued at about $44,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Trading Down 0.4%

Shares of EXEL opened at $55.55 on Thursday. The firm has a market capitalization of $13.96 billion, a P/E ratio of 18.46, a P/E/G ratio of 1.61 and a beta of 0.42. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57. The firm has a 50-day moving average price of $52.30 and a 200 day moving average price of $46.66.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. During the same quarter last year, the firm posted $0.55 earnings per share. Exelixis’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts predict that Exelixis, Inc. will post 3.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director George Poste sold 60,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $45.71, for a total transaction of $2,742,600.00. Following the sale, the director directly owned 118,832 shares in the company, valued at $5,431,810.72. This represents a 33.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick J. Haley sold 32,110 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the transaction, the executive vice president owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. This trade represents a 8.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 219,170 shares of company stock valued at $10,620,641. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on EXEL shares. Citizens Jmp raised their target price on shares of Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Wednesday, June 24th. Barclays upped their price objective on shares of Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday. Wells Fargo & Company lifted their price target on Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday. Morgan Stanley reissued a “positive” rating on shares of Exelixis in a report on Monday, June 22nd. Finally, TD Cowen raised their price target on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $48.80.

Exelixis Profile

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.