Exelixis, Inc. $EXEL Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 8.4% during the first quarter, Holdings Channel reports. The fund owned 4,834,625 shares of the biotechnology company’s stock after selling 442,633 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Exelixis were worth $207,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Exelixis by 62.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 187,154 shares of the biotechnology company’s stock worth $8,224,000 after acquiring an additional 71,987 shares during the period. Stephens Investment Management Group LLC lifted its holdings in Exelixis by 1.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company’s stock valued at $111,303,000 after acquiring an additional 28,265 shares during the period. Nisa Investment Advisors LLC boosted its position in Exelixis by 692.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 140,446 shares of the biotechnology company’s stock worth $6,156,000 after purchasing an additional 122,720 shares in the last quarter. SG Americas Securities LLC boosted its position in Exelixis by 72.1% in the 4th quarter. SG Americas Securities LLC now owns 36,288 shares of the biotechnology company’s stock worth $1,591,000 after purchasing an additional 15,203 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Exelixis by 18.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,383,820 shares of the biotechnology company’s stock worth $60,307,000 after purchasing an additional 216,048 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Trading Down 0.5%

Shares of NASDAQ EXEL opened at $55.37 on Friday. The stock has a market cap of $13.92 billion, a PE ratio of 18.40, a P/E/G ratio of 1.60 and a beta of 0.42. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57. The company has a 50-day moving average of $53.16 and a 200 day moving average of $47.19.

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 analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. During the same period last year, the company posted $0.55 EPS. The business’s revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that Exelixis, Inc. will post 3.16 EPS for the current fiscal year.

Insider Activity 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 transaction, the chief financial officer owned 952,317 shares in the company, valued at $47,615,850. The trade was a 3.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the executive vice president owned 357,638 shares in the company, valued at approximately $17,813,948.78. This represents a 8.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 219,170 shares of company stock valued at $10,620,641 in the last three months. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on EXEL. Wells Fargo & Company lifted their target price on shares of Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, July 13th. UBS Group restated a “buy” rating on shares of Exelixis in a research report on Thursday, July 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Exelixis in a report on Thursday, July 2nd. Royal Bank Of Canada upped their price objective on shares of Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Exelixis presently has a consensus rating of “Hold” and an average target price of $49.00.

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.