Meritage Portfolio Management Has $10.73 Million Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Meritage Portfolio Management decreased its stake in Exelixis, Inc. (NASDAQ:EXEL) by 0.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 413,586 shares of the biotechnology company’s stock after selling 480 shares during the quarter. Meritage Portfolio Management owned 0.14% of Exelixis worth $10,733,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of EXEL. V Square Quantitative Management LLC acquired a new stake in Exelixis during the 3rd quarter valued at $30,000. Park Place Capital Corp acquired a new position in Exelixis during the second quarter valued at $45,000. GAMMA Investing LLC lifted its stake in Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 1,041 shares in the last quarter. EntryPoint Capital LLC boosted its position in Exelixis by 537.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 1,746 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in Exelixis during the 3rd quarter valued at about $61,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Stock Up 1.3 %

EXEL stock traded up $0.45 during mid-day trading on Friday, reaching $36.25. 2,227,542 shares of the stock traded hands, compared to its average volume of 2,840,695. The firm has a market capitalization of $10.35 billion, a PE ratio of 23.24, a P/E/G ratio of 0.90 and a beta of 0.51. The business has a 50-day moving average of $28.07 and a two-hundred day moving average of $24.74. Exelixis, Inc. has a 52 week low of $19.20 and a 52 week high of $36.60.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. On average, equities research analysts anticipate that Exelixis, Inc. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Truist Financial increased their price target on shares of Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Bank of America upped their price target on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. HC Wainwright reiterated a “buy” rating and set a $29.00 price objective on shares of Exelixis in a report on Wednesday, September 18th. Finally, Piper Sandler boosted their target price on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Exelixis has an average rating of “Moderate Buy” and an average price target of $31.44.

Insider Buying and Selling

In other Exelixis news, EVP Jeffrey Hessekiel sold 20,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.79, for a total value of $515,800.00. Following the completion of the sale, the executive vice president now directly owns 630,325 shares of the company’s stock, valued at $16,256,081.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Exelixis news, EVP Jeffrey Hessekiel sold 20,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.79, for a total value of $515,800.00. Following the sale, the executive vice president now owns 630,325 shares of the company’s stock, valued at $16,256,081.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dana Aftab sold 96,986 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the transaction, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at $17,463,075. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 277,281 shares of company stock valued at $8,826,761. 2.85% of the stock is owned by company insiders.

Exelixis Company Profile

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.