Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management trimmed its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 407,749 shares of the biotechnology company’s stock after selling 5,837 shares during the quarter. Exelixis accounts for approximately 0.8% of Meritage Portfolio Management’s investment portfolio, making the stock its 26th biggest holding. Meritage Portfolio Management owned 0.14% of Exelixis worth $13,578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new stake in Exelixis in the third quarter valued at approximately $30,000. USA Financial Formulas acquired a new stake in Exelixis in the 4th quarter valued at about $32,000. Brooklyn Investment Group purchased a new position in Exelixis during the third quarter worth approximately $42,000. UMB Bank n.a. raised its holdings in shares of Exelixis by 68.4% during the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 553 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in Exelixis during the third quarter worth about $61,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the transaction, the executive vice president now owns 278,665 shares of the company’s stock, valued at approximately $9,828,514.55. This trade represents a 3.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the sale, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,588 shares of company stock valued at $3,981,864. Insiders own 2.85% of the company’s stock.

Exelixis Trading Up 0.7 %

Shares of NASDAQ:EXEL opened at $33.12 on Wednesday. Exelixis, Inc. has a 12-month low of $20.01 and a 12-month high of $37.59. The stock’s 50-day moving average price is $34.54 and its two-hundred day moving average price is $30.33. The firm has a market cap of $9.46 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 0.72 and a beta of 0.53.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EXEL shares. Guggenheim reaffirmed a “buy” rating on shares of Exelixis in a research note on Wednesday, January 22nd. BMO Capital Markets lowered Exelixis from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $36.00 to $40.00 in a report on Friday, December 20th. Brookline Capital Management began coverage on Exelixis in a report on Monday, December 23rd. They issued a “buy” rating on the stock. Stifel Nicolaus raised their target price on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Bank of America downgraded shares of Exelixis from a “buy” rating to a “neutral” rating and lifted their target price for the company from $35.00 to $39.00 in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.06.

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.