LSV Asset Management Trims Stock Position in Exelixis, Inc. $EXEL

LSV Asset Management lessened its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,745,932 shares of the biotechnology company’s stock after selling 22,695 shares during the period. LSV Asset Management’s holdings in Exelixis were worth $339,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. BridgePort Financial Solutions LLC purchased a new position in Exelixis in the third quarter valued at $517,000. Candriam S.C.A. increased its holdings in Exelixis by 18.4% in the third quarter. Candriam S.C.A. now owns 696,104 shares of the biotechnology company’s stock valued at $28,749,000 after buying an additional 108,367 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Exelixis by 11.2% in the third quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock valued at $172,658,000 after buying an additional 419,596 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Exelixis by 153.3% in the third quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock valued at $101,720,000 after buying an additional 1,490,520 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in Exelixis by 19.1% in the third quarter. Illinois Municipal Retirement Fund now owns 204,211 shares of the biotechnology company’s stock valued at $8,434,000 after buying an additional 32,737 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

EXEL has been the subject of a number of recent analyst reports. TD Cowen lifted their price objective on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Morgan Stanley lifted their price objective on shares of Exelixis from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a report on Tuesday. Truist Financial raised shares of Exelixis to a “strong-buy” rating in a report on Monday, April 27th. Finally, Royal Bank Of Canada cut their price objective on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $47.35.

Insider Buying and Selling at Exelixis

In other news, SVP Brenda Hefti sold 6,625 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $50.21, for a total transaction of $332,641.25. Following the completion of the sale, the senior vice president owned 106,762 shares of the company’s stock, valued at $5,360,520.02. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Maria C. Freire sold 20,634 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $46.00, for a total transaction of $949,164.00. Following the sale, the director directly owned 100,819 shares of the company’s stock, valued at $4,637,674. This represents a 16.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 209,900 shares of company stock valued at $9,874,852. Corporate insiders own 2.60% of the company’s stock.

Exelixis Stock Up 1.0%

EXEL stock opened at $50.15 on Friday. The stock has a market capitalization of $12.61 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.05 and a beta of 0.38. The firm has a 50-day simple moving average of $45.10 and a 200-day simple moving average of $43.84. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $51.63.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. The business had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. On average, analysts expect that Exelixis, Inc. will post 3.15 earnings per share for the current year.

Exelixis Company 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.