NorthCrest Asset Manangement LLC Boosts Stake in Exelixis, Inc. $EXEL

NorthCrest Asset Manangement LLC boosted its stake in Exelixis, Inc. (NASDAQ:EXEL) by 50.9% in the 4th quarter, Holdings Channel reports. The firm owned 38,444 shares of the biotechnology company’s stock after purchasing an additional 12,969 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Exelixis were worth $1,630,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXEL. Farallon Capital Management LLC boosted its position in shares of Exelixis by 21.6% during the third quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock worth $805,412,000 after buying an additional 3,466,000 shares during the period. AQR Capital Management LLC raised its holdings in shares of Exelixis by 20.7% in the 3rd quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock valued at $379,190,000 after buying an additional 1,575,280 shares during the period. Invesco Ltd. raised its holdings in shares of Exelixis by 7.1% in the 3rd quarter. Invesco Ltd. now owns 5,960,525 shares of the biotechnology company’s stock valued at $246,170,000 after buying an additional 394,897 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake 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 acquiring an additional 1,580,567 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Exelixis by 11.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock worth $172,658,000 after acquiring an additional 419,596 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on EXEL shares. Zacks Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Wells Fargo & Company increased their price target on shares of Exelixis from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a report on Thursday, January 22nd. Finally, Truist Financial set a $51.00 target price on shares of Exelixis in a research note on Wednesday, January 14th. Ten equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Exelixis currently has an average rating of “Hold” and an average target price of $46.94.

Insider Transactions at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 34,278 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $43.00, for a total value of $1,473,954.00. Following the sale, the chief financial officer directly owned 1,042,579 shares in the company, valued at $44,830,897. This trade represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dana Aftab sold 47,918 shares of Exelixis stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $44.50, for a total value of $2,132,351.00. Following the sale, the executive vice president directly owned 616,106 shares of the company’s stock, valued at $27,416,717. This trade represents a 7.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 362,849 shares of company stock valued at $15,917,463 over the last ninety days. Company insiders own 2.82% of the company’s stock.

Exelixis Stock Up 0.3%

NASDAQ EXEL opened at $41.41 on Tuesday. Exelixis, Inc. has a 52 week low of $32.38 and a 52 week high of $49.62. The stock has a market capitalization of $10.75 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 0.93 and a beta of 0.41. The firm has a 50 day moving average of $42.98 and a two-hundred day moving average of $41.88.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.20. The business had revenue of $598.66 million for the quarter, compared to analyst estimates of $609.17 million. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS. On average, equities research analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal 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.