Stephens Investment Management Group LLC Decreases Stock Position in Exelixis, Inc. $EXEL

Stephens Investment Management Group LLC lowered its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 5.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,511,156 shares of the biotechnology company’s stock after selling 131,246 shares during the quarter. Exelixis accounts for about 1.3% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 9th largest position. Stephens Investment Management Group LLC owned approximately 0.93% of Exelixis worth $103,711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Luminist Capital LLC lifted its stake in shares of Exelixis by 2,740.0% during the 2nd quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 685 shares in the last quarter. Steph & Co. bought a new stake in Exelixis during the second quarter valued at about $44,000. Hantz Financial Services Inc. lifted its position in shares of Exelixis by 940.4% in the second quarter. Hantz Financial Services Inc. now owns 1,134 shares of the biotechnology company’s stock valued at $50,000 after acquiring an additional 1,025 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Exelixis in the second quarter worth about $60,000. Finally, Huntington National Bank grew its position in shares of Exelixis by 43.1% during the second quarter. Huntington National Bank now owns 1,387 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 418 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on EXEL shares. Leerink Partnrs upgraded Exelixis from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Royal Bank Of Canada restated a “sector perform” rating and set a $45.00 target price on shares of Exelixis in a research report on Tuesday, October 21st. Leerink Partners raised shares of Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research note on Tuesday, October 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $48.00 price target (up previously from $45.00) on shares of Exelixis in a research note on Thursday, January 8th. Finally, HC Wainwright increased their price objective on shares of Exelixis from $49.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Exelixis presently has a consensus rating of “Hold” and an average price target of $45.95.

Insider Activity

In other news, Director Mary C. Beckerle sold 24,622 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $41.93, for a total value of $1,032,400.46. Following the sale, the director directly owned 21,380 shares in the company, valued at approximately $896,463.40. This represents a 53.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stelios Papadopoulos sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $43.55, for a total value of $4,355,000.00. Following the sale, the director directly owned 1,189,228 shares of the company’s stock, valued at $51,790,879.40. This represents a 7.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 245,235 shares of company stock valued at $10,490,600. 2.82% of the stock is currently owned by company insiders.

Exelixis Stock Performance

Shares of Exelixis stock opened at $43.96 on Friday. The stock has a 50 day moving average price of $43.53 and a 200-day moving average price of $41.14. Exelixis, Inc. has a one year low of $31.90 and a one year high of $49.62. The stock has a market cap of $11.79 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 0.82 and a beta of 0.40.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.The company had revenue of $597.76 million during the quarter, compared to the consensus estimate of $590.04 million. During the same period last year, the company earned $0.47 earnings per share. Exelixis’s revenue was up 10.8% on a year-over-year basis. Sell-side analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Exelixis Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.