Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its position in Exelixis, Inc. (NASDAQ:EXEL) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,273,620 shares of the biotechnology company’s stock after selling 33,071 shares during the period. Charles Schwab Investment Management Inc. owned about 1.15% of Exelixis worth $84,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EXEL. Navellier & Associates Inc. acquired a new position in Exelixis during the third quarter worth $573,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Exelixis during the 3rd quarter worth $721,000. Intech Investment Management LLC grew its stake in shares of Exelixis by 48.2% during the 3rd quarter. Intech Investment Management LLC now owns 232,041 shares of the biotechnology company’s stock worth $6,021,000 after purchasing an additional 75,489 shares during the period. Moran Wealth Management LLC increased its holdings in shares of Exelixis by 59.1% in the 3rd quarter. Moran Wealth Management LLC now owns 29,946 shares of the biotechnology company’s stock valued at $777,000 after purchasing an additional 11,119 shares in the last quarter. Finally, Grandfield & Dodd LLC acquired a new stake in shares of Exelixis in the third quarter valued at about $312,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group assumed coverage on shares of Exelixis in a research report on Thursday, September 19th. They set a “neutral” rating and a $30.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Wednesday, September 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $34.00 target price on shares of Exelixis in a research report on Wednesday, October 30th. TD Cowen raised their price target on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Bank of America boosted their price objective on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.44.

Exelixis Trading Down 1.4 %

NASDAQ EXEL opened at $35.93 on Thursday. The business’s 50-day moving average price is $30.25 and its 200 day moving average price is $25.83. Exelixis, Inc. has a twelve month low of $19.20 and a twelve month high of $36.73. The company has a market capitalization of $10.26 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 0.92 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same period last year, the company earned $0.10 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. Equities analysts predict that Exelixis, Inc. will post 1.69 EPS for the current year.

Insider Activity

In other news, Director George Poste sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the transaction, the director now directly owns 169,020 shares in the company, valued at $5,746,680. This trade represents a 15.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dana Aftab sold 1,162 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the sale, the executive vice president now owns 498,945 shares of the company’s stock, valued at $15,666,873. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 279,736 shares of company stock valued at $9,308,410 in the last ninety days. Company insiders own 2.85% 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.