BI Asset Management Fondsmaeglerselskab A S Has $1.91 Million Stock Holdings in Exelixis, Inc. $EXEL

BI Asset Management Fondsmaeglerselskab A S cut its position in Exelixis, Inc. (NASDAQ:EXEL) by 74.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,658 shares of the biotechnology company’s stock after selling 130,128 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Exelixis were worth $1,914,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EXEL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Exelixis by 81.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock worth $1,592,000 after purchasing an additional 19,407 shares during the period. Goldman Sachs Group Inc. raised its holdings in Exelixis by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock worth $54,153,000 after purchasing an additional 68,133 shares during the period. Focus Partners Wealth raised its holdings in Exelixis by 83.4% in the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock worth $1,420,000 after purchasing an additional 17,483 shares during the period. Geneos Wealth Management Inc. raised its holdings in Exelixis by 134.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 944 shares during the period. Finally, Sivia Capital Partners LLC raised its holdings in Exelixis by 23.8% in the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock worth $633,000 after purchasing an additional 2,764 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director George Poste sold 60,000 shares of Exelixis stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $45.71, for a total value of $2,742,600.00. Following the completion of the transaction, the director owned 118,832 shares of the company’s stock, valued at $5,431,810.72. This trade represents a 33.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Maria C. Freire sold 20,634 shares of Exelixis stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $46.00, for a total transaction of $949,164.00. Following the completion of the transaction, the director directly owned 100,819 shares of the company’s stock, valued at approximately $4,637,674. This trade represents a 16.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 219,170 shares of company stock valued at $10,620,641 in the last quarter. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EXEL. TD Cowen raised their price objective on shares of Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. HC Wainwright raised their price objective on shares of Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Stifel Nicolaus raised their price objective on shares of Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Morgan Stanley raised their price objective on shares of Exelixis from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company raised their price objective on shares of Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $47.35.

Exelixis Trading Up 2.4%

Exelixis stock opened at $52.99 on Wednesday. The company has a market cap of $13.32 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.49 and a beta of 0.41. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $53.28. The company has a fifty day simple moving average of $47.38 and a 200 day simple moving average of $44.68.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. The business had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 earnings per share. On average, equities research analysts forecast that Exelixis, Inc. will post 3.16 EPS for the current 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.