Brandywine Global Investment Management LLC Increases Stake in Exelixis, Inc. $EXEL

Brandywine Global Investment Management LLC raised its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 21.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 376,229 shares of the biotechnology company’s stock after acquiring an additional 66,034 shares during the period. Brandywine Global Investment Management LLC’s holdings in Exelixis were worth $16,490,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Exelixis by 81.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock valued at $1,592,000 after acquiring an additional 19,407 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Exelixis by 4.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock valued at $54,153,000 after acquiring an additional 68,133 shares during the last quarter. Focus Partners Wealth boosted its position in shares of Exelixis by 83.4% during the 1st quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock valued at $1,420,000 after acquiring an additional 17,483 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Exelixis by 134.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 944 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its position in shares of Exelixis by 23.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock valued at $633,000 after acquiring an additional 2,764 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Exelixis

In other news, CFO Christopher J. Senner sold 34,901 shares of Exelixis stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the completion of the sale, the chief financial officer directly owned 952,317 shares in the company, valued at approximately $47,615,850. This trade represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick J. Haley sold 32,110 shares of Exelixis stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total value of $1,599,399.10. Following the sale, the executive vice president owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. This trade represents a 8.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 219,170 shares of company stock valued at $10,620,641. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EXEL. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a research report on Tuesday, May 19th. Royal Bank Of Canada lowered their target price on Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. HC Wainwright increased their target price on Exelixis from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Truist Financial upgraded Exelixis to a “strong-buy” rating in a research report on Monday, April 27th. Finally, Morgan Stanley raised their price target on Exelixis from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Exelixis presently has an average rating of “Hold” and an average price target of $47.35.

Exelixis Stock Down 1.8%

EXEL opened at $51.74 on Tuesday. The business has a fifty day moving average of $47.15 and a 200 day moving average of $44.60. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $52.98. The stock has a market cap of $13.00 billion, a P/E ratio of 17.19, a PEG ratio of 1.52 and a beta of 0.41.

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

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.