Exelixis, Inc. $EXEL Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC lowered its stake in Exelixis, Inc. (NASDAQ:EXEL) by 7.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 218,164 shares of the biotechnology company’s stock after selling 18,628 shares during the period. Rafferty Asset Management LLC’s holdings in Exelixis were worth $9,010,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quantbot Technologies LP acquired a new position in Exelixis in the third quarter worth about $539,000. Handelsbanken Fonder AB raised its stake in Exelixis by 21.1% during the third quarter. Handelsbanken Fonder AB now owns 79,866 shares of the biotechnology company’s stock valued at $3,298,000 after buying an additional 13,900 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Exelixis by 33.1% during the 3rd quarter. Intech Investment Management LLC now owns 600,811 shares of the biotechnology company’s stock worth $24,813,000 after buying an additional 149,483 shares during the last quarter. North Star Asset Management Inc. grew its position in shares of Exelixis by 0.7% in the 3rd quarter. North Star Asset Management Inc. now owns 57,550 shares of the biotechnology company’s stock worth $2,377,000 after acquiring an additional 400 shares in the last quarter. Finally, TD Asset Management Inc acquired a new position in shares of Exelixis in the 3rd quarter worth approximately $264,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EXEL. TD Cowen restated a “buy” rating on shares of Exelixis in a research note on Wednesday, November 5th. Truist Financial set a $51.00 target price on shares of Exelixis in a report on Wednesday, January 14th. UBS Group set a $41.00 price target on shares of Exelixis in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a report on Thursday, January 22nd. Finally, Barclays boosted their price objective on shares of Exelixis from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.11.

Exelixis Stock Performance

Exelixis stock opened at $44.06 on Monday. Exelixis, Inc. has a one year low of $32.38 and a one year high of $49.62. The company has a 50-day simple moving average of $44.09 and a 200-day simple moving average of $41.48. The firm has a market capitalization of $11.44 billion, a P/E ratio of 15.91, a P/E/G ratio of 0.99 and a beta of 0.41.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.20. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The firm had revenue of $598.66 million for the quarter, compared to the consensus estimate of $609.17 million. During the same period last year, the firm posted $0.55 EPS. Exelixis’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Dana Aftab sold 47,918 shares of Exelixis stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the sale, the executive vice president owned 616,106 shares of the company’s stock, valued at $27,416,717. The trade was a 7.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Patrick J. Haley sold 67,814 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $43.52, for a total value of $2,951,265.28. Following the completion of the transaction, the executive vice president directly owned 381,908 shares of the company’s stock, valued at approximately $16,620,636.16. The trade was a 15.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 362,849 shares of company stock valued at $15,917,463. 2.85% of the stock is currently owned by insiders.

About Exelixis

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.