State Street Corp Has $542.47 Million Holdings in Exelixis, Inc. $EXEL

Key Points

• State Street reduced its Exelixis stake by 3.2% in the second quarter, selling 328,368 shares. It still held 9.97 million shares valued at approximately $542.5 million, or 4.02% of the company.
• Institutional investors own 85.27% of Exelixis, while BlackRock established a position worth roughly $1.58 billion during the quarter. An Exelixis director also sold shares worth about $526,512 under a pre-arranged trading plan.
• Exelixis reported quarterly EPS of $0.91, beating estimates by $0.06, while revenue rose 10.6% year over year to $628.7 million. The stock traded at $56.73, but analysts maintained a consensus “Hold” rating with a $50.29 price target.

State Street Corp reduced its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,970,071 shares of the biotechnology company's stock after selling 328,368 shares during the quarter. State Street Corp owned about 4.02% of Exelixis worth $542,472,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Arkadios Wealth Advisors acquired a new position in shares of Exelixis during the first quarter valued at $476,000. Corient Private Wealth LP bought a new stake in Exelixis during the 2nd quarter worth about $4,324,000. L2 Asset Management LLC acquired a new position in Exelixis during the 2nd quarter valued at about $6,839,000. BlackRock Inc. acquired a new stake in shares of Exelixis during the 2nd quarter worth approximately $1,581,991,000. Finally, JLB & Associates Inc. acquired a new stake in shares of Exelixis during the 2nd quarter worth approximately $2,658,000. Institutional investors own 85.27% of the company's stock.

Insider Buying and Selling

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

Exelixis Trading Down 2.4%

Shares of NASDAQ EXEL opened at $56.73 on Thursday. The company has a fifty day moving average price of $55.53 and a 200 day moving average price of $50.84. The firm has a market cap of $14.06 billion, a PE ratio of 17.84, a PEG ratio of 1.73 and a beta of 0.42. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $59.72.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Leerink Partners lowered shares of Exelixis from an "outperform" rating to a "market perform" rating and set a $52.00 price target for the company. in a report on Thursday, August 6th. HC Wainwright reissued a "buy" rating and issued a $56.00 target price on shares of Exelixis in a research note on Thursday, July 2nd. Wells Fargo & Company increased their price target on Exelixis from $40.00 to $49.00 and gave the stock an "equal weight" rating in a report on Monday, July 13th. Citigroup reaffirmed a "market outperform" rating on shares of Exelixis in a research report on Monday, September 14th. Finally, Stifel Nicolaus lifted their price objective on Exelixis from $47.00 to $51.00 and gave the company a "hold" rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Exelixis currently has a consensus rating of "Hold" and a consensus target price of $50.29.

About Exelixis

Exelixis, Inc NASDAQ: EXEL is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company's research and development activities center on targeted therapies designed to address biological pathways involved in tumor growth and progression.

Exelixis' principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with advanced renal cell carcinoma, hepatocellular carcinoma and radioactive iodine-refractory differentiated thyroid cancer.

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