Exelixis, Inc. $EXEL Shares Sold by LSV Asset Management

LSV Asset Management cut its position in Exelixis, Inc. (NASDAQ:EXEL) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,768,627 shares of the biotechnology company’s stock after selling 51,820 shares during the period. LSV Asset Management’s holdings in Exelixis were worth $320,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of EXEL. Norges Bank acquired a new position in Exelixis during the second quarter worth approximately $122,099,000. Qube Research & Technologies Ltd raised its position in Exelixis by 120.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock valued at $134,306,000 after purchasing an additional 1,665,110 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Exelixis by 42.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock worth $231,951,000 after purchasing an additional 1,580,567 shares during the last quarter. Allianz Asset Management GmbH increased its stake 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 purchasing an additional 1,490,520 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Exelixis by 776.8% in the second quarter. Prudential Financial Inc. now owns 1,468,865 shares of the biotechnology company’s stock valued at $64,740,000 after buying an additional 1,301,330 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 28,043 shares of Exelixis stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $42.58, for a total transaction of $1,194,070.94. Following the completion of the transaction, the executive vice president directly owned 374,029 shares in the company, valued at $15,926,154.82. The trade was a 6.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 72,230 shares of company stock valued at $3,046,923. 2.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EXEL has been the topic of several recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research report on Thursday, January 22nd. Bank of America lowered shares of Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price objective on the stock. in a research report on Monday, January 5th. Guggenheim cut Exelixis from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Barclays increased their target price on Exelixis from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. Finally, Leerink Partners raised Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.11.

Exelixis Price Performance

NASDAQ EXEL opened at $42.94 on Thursday. The business has a 50 day moving average price of $43.67 and a 200 day moving average price of $40.94. The company has a market capitalization of $11.51 billion, a P/E ratio of 15.50, a PEG ratio of 0.73 and a beta of 0.42. Exelixis, Inc. has a 1-year low of $32.38 and a 1-year high of $49.62.

Exelixis (NASDAQ:EXEL) last posted its earnings results 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 return on equity of 36.52% and a net margin of 33.73%.The company had revenue of $598.66 million for the quarter, compared to analyst estimates of $609.17 million. During the same quarter in the prior year, the company earned $0.55 earnings per share. Exelixis’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect 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.