Stephens Investment Management Group LLC Sells 14,921 Shares of Exelixis, Inc. $EXEL

Stephens Investment Management Group LLC lessened its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,524,500 shares of the biotechnology company’s stock after selling 14,921 shares during the period. Exelixis makes up 1.5% of Stephens Investment Management Group LLC’s holdings, making the stock its 7th biggest position. Stephens Investment Management Group LLC owned approximately 0.99% of Exelixis worth $108,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXEL. Motiv8 Investments LLC acquired a new stake in Exelixis during the 4th quarter worth about $26,000. Anchor Investment Management LLC lifted its holdings in shares of Exelixis by 500.0% in the 3rd 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. Acumen Wealth Advisors LLC acquired a new position in shares of Exelixis in the 4th quarter valued at about $29,000. Activest Wealth Management acquired a new position in shares of Exelixis in the 4th quarter valued at about $32,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Exelixis by 1,380.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock worth $34,000 after buying an additional 773 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $56.00 target price on shares of Exelixis in a report on Thursday. Stifel Nicolaus upped their price objective on Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Citizens Jmp raised their price objective on shares of Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Wednesday, June 24th. Finally, Truist Financial lowered shares of Exelixis from a “buy” rating to a “hold” rating and lifted their target price for the company from $51.00 to $54.00 in a report on Thursday, June 25th. Nine investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $47.60.

Exelixis Price Performance

NASDAQ:EXEL opened at $55.85 on Friday. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $56.21. The stock’s 50-day moving average price is $50.56 and its 200-day moving average price is $45.97. The stock has a market capitalization of $14.04 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 1.61 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last released its quarterly 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. The company had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.Exelixis’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. Sell-side analysts expect that Exelixis, Inc. will post 3.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Patrick J. Haley sold 32,110 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the transaction, the executive vice president owned 357,638 shares in the company, valued at $17,813,948.78. This trade represents a 8.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Senner sold 34,901 shares of the business’s 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 of the company’s stock, valued at approximately $47,615,850. The trade was a 3.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 219,170 shares of company stock valued at $10,620,641. 2.60% of the stock is owned by insiders.

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.