Arbejdsmarkedets Tillaegspension Grows Position in Exelixis, Inc. $EXEL

Arbejdsmarkedets Tillaegspension grew its stake in Exelixis, Inc. (NASDAQ:EXEL) by 9.7% during the 1st quarter, Holdings Channel reports. The fund owned 609,492 shares of the biotechnology company’s stock after acquiring an additional 53,988 shares during the period. Exelixis comprises about 0.7% of Arbejdsmarkedets Tillaegspension’s portfolio, making the stock its 14th biggest position. Arbejdsmarkedets Tillaegspension’s holdings in Exelixis were worth $26,141,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in EXEL. Anchor Investment Management LLC lifted its stake in shares of Exelixis by 500.0% during the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 500 shares during the period. Motiv8 Investments LLC acquired a new position in Exelixis in the fourth quarter valued at $26,000. Acumen Wealth Advisors LLC purchased a new position in Exelixis in the fourth quarter valued at approximately $29,000. Activest Wealth Management purchased a new position in Exelixis in the fourth quarter valued at approximately $32,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Exelixis by 1,380.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 773 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Exelixis from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. Stifel Nicolaus lifted their target price on shares of Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. UBS Group reaffirmed a “buy” rating on shares of Exelixis in a research report on Thursday, July 2nd. TD Cowen increased their price target on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Citizens Jmp raised their price objective on Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Wednesday, June 24th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $47.93.

Exelixis Stock Performance

Shares of EXEL opened at $56.50 on Monday. The firm has a fifty day moving average of $51.70 and a 200-day moving average of $46.47. The company has a market cap of $14.20 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.63 and a beta of 0.42. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57.

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

Insider Activity

In other news, CFO Christopher J. Senner sold 34,901 shares of Exelixis stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $50.00, for a total value of $1,745,050.00. Following the transaction, the chief financial officer owned 952,317 shares of the company’s stock, valued at $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 SEC, which can be accessed through this hyperlink. Also, Director Sue Gail Eckhardt sold 9,812 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $50.14, for a total value of $491,973.68. Following the completion of the sale, the director directly owned 16,079 shares in the company, valued at approximately $806,201.06. This represents a 37.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 219,170 shares of company stock worth $10,620,641. Corporate insiders own 2.60% of the company’s stock.

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.