NFJ Investment Group LLC Has $16.09 Million Holdings in Exelixis, Inc. $EXEL

NFJ Investment Group LLC cut its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 14.3% in the fourth quarter, Holdings Channel reports. The firm owned 367,111 shares of the biotechnology company’s stock after selling 61,271 shares during the quarter. NFJ Investment Group LLC’s holdings in Exelixis were worth $16,090,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXEL. Farallon Capital Management LLC lifted its holdings in 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 acquiring an additional 3,466,000 shares in the last quarter. Norges Bank bought a new position in Exelixis during the fourth quarter worth about $106,460,000. AQR Capital Management LLC lifted its holdings in Exelixis by 20.7% during the third quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock worth $379,190,000 after acquiring an additional 1,575,280 shares in the last quarter. UBS Group AG lifted its holdings in Exelixis by 100.1% during the third quarter. UBS Group AG now owns 2,655,069 shares of the biotechnology company’s stock worth $109,654,000 after acquiring an additional 1,328,087 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Exelixis by 1,821.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,188,105 shares of the biotechnology company’s stock worth $52,075,000 after acquiring an additional 1,126,256 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Patrick J. Haley sold 32,110 shares of the business’s stock in a transaction dated 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 directly owned 357,638 shares in the company, valued at $17,813,948.78. The trade was a 8.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dana Aftab sold 43,451 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total value of $2,187,757.85. Following the completion of the sale, the executive vice president owned 594,741 shares in the company, valued at approximately $29,945,209.35. This trade represents a 6.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 219,170 shares of company stock valued at $10,620,641. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EXEL shares. Royal Bank Of Canada reduced their target price on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Barclays lifted their target price on Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, April 20th. Wells Fargo & Company lifted their target price on Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Stifel Nicolaus lifted their target price on Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Finally, Truist Financial upgraded Exelixis to a “strong-buy” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Exelixis has a consensus rating of “Hold” and a consensus target price of $47.35.

Exelixis Price Performance

Shares of Exelixis stock opened at $53.13 on Friday. The firm has a market cap of $13.35 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.53 and a beta of 0.41. The stock’s 50-day moving average is $47.98 and its 200-day moving average is $44.89. Exelixis, Inc. has a one year low of $33.76 and a one year high of $53.93.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. The company 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%.The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 earnings per share. On average, equities analysts expect that Exelixis, Inc. will post 3.16 EPS for the current 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.