207,444 Exelixis, Inc. $EXEL Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management reduced its Exelixis stake by 20.1% in the third quarter, selling 207,444 shares and retaining 822,375 shares valued at approximately $48.0 million.
• Exelixis reported quarterly earnings of $0.91 per share, beating estimates of $0.85, while revenue rose 10.6% year over year to $628.7 million, though it fell short of analyst expectations.
• EXEL shares opened at $65.31, near their 52-week high of $65.50, but analysts maintained a consensus “Hold” rating with an average price target of $51.50.

Robeco Institutional Asset Management B.V. reduced its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 20.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 822,375 shares of the biotechnology company's stock after selling 207,444 shares during the period. Robeco Institutional Asset Management B.V. owned 0.33% of Exelixis worth $48,035,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. CWA Asset Management Group LLC increased its stake in shares of Exelixis by 7.0% in the third quarter. CWA Asset Management Group LLC now owns 67,607 shares of the biotechnology company's stock worth $3,949,000 after purchasing an additional 4,434 shares in the last quarter. IFP Advisors Inc raised its position in shares of Exelixis by 45.1% during the 3rd quarter. IFP Advisors Inc now owns 62,529 shares of the biotechnology company's stock valued at $3,652,000 after purchasing an additional 19,428 shares during the period. Annex Advisory Services LLC lifted its stake in shares of Exelixis by 14.1% during the 3rd quarter. Annex Advisory Services LLC now owns 29,572 shares of the biotechnology company's stock valued at $1,727,000 after buying an additional 3,654 shares in the last quarter. Goldstein Advisors LLC purchased a new position in shares of Exelixis during the 3rd quarter valued at $225,000. Finally, Milestone Asset Management LLC lifted its stake in shares of Exelixis by 581.0% during the 3rd quarter. Milestone Asset Management LLC now owns 200,127 shares of the biotechnology company's stock valued at $11,689,000 after buying an additional 170,738 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Exelixis Price Performance

Shares of EXEL opened at $65.31 on Friday. The stock has a market capitalization of $16.18 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.81 and a beta of 0.47. Exelixis, Inc. has a 1 year low of $36.00 and a 1 year high of $65.50. The business's 50 day simple moving average is $57.92 and its 200-day simple moving average is $53.53.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The firm had revenue of $628.69 million during the quarter, compared to analyst estimates of $636.40 million. During the same period last year, the firm posted $0.75 earnings per share. Exelixis's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, sell-side analysts expect that Exelixis, Inc. will post 3.19 earnings per share for the current year.

Insider Buying and Selling

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of Exelixis stock in a transaction on Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the transaction, the director directly owned 16,079 shares of the company's stock, valued at $862,799.14. This trade represents a 37.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EXEL. Morgan Stanley increased their price target on Exelixis from $50.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 23rd. UBS Group set a $55.00 price objective on Exelixis in a research note on Monday, August 3rd. Citigroup reiterated a "market outperform" rating on shares of Exelixis in a research report on Monday. Truist Financial lifted their target price on Exelixis from $52.00 to $54.00 and gave the company a "hold" rating in a research note on Wednesday, October 7th. Finally, Barclays boosted their price target on Exelixis from $45.00 to $49.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $51.50.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company's research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis' lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.

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