Exelixis, Inc. $EXEL Shares Sold by Krensavage Asset Management LLC

Krensavage Asset Management LLC cut its position in Exelixis, Inc. (NASDAQ:EXEL) by 10.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 370,693 shares of the biotechnology company’s stock after selling 45,000 shares during the quarter. Exelixis comprises about 7.7% of Krensavage Asset Management LLC’s portfolio, making the stock its 5th biggest holding. Krensavage Asset Management LLC owned approximately 0.15% of Exelixis worth $20,169,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently 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% in the first 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 period. Goldman Sachs Group Inc. increased its position in Exelixis by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock worth $54,153,000 after acquiring an additional 68,133 shares during the period. Focus Partners Wealth raised its stake in Exelixis by 83.4% in the 1st quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock worth $1,420,000 after purchasing an additional 17,483 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Exelixis by 134.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 944 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its stake in Exelixis by 23.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock worth $633,000 after purchasing an additional 2,764 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Up 1.1%

EXEL opened at $58.33 on Thursday. The stock has a market capitalization of $14.45 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 1.72 and a beta of 0.42. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $59.72. The company has a 50-day simple moving average of $55.31 and a 200 day simple moving average of $49.84.

Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $628.69 million for the quarter, compared to analyst estimates of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. Sell-side analysts anticipate that Exelixis, Inc. will post 3.19 EPS for the current fiscal year.

Insider Activity

In related news, Director Mary Beckerle sold 9,812 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the sale, the director owned 16,079 shares in the company, valued at approximately $862,799.14. This trade represents a 37.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EXEL shares. Morgan Stanley increased their target price on shares of Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded shares of Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. BMO Capital Markets began coverage on shares of Exelixis in a research report on Tuesday, August 18th. They issued a “market perform” rating and a $54.00 price target for the company. Zacks Research upgraded Exelixis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 1st. Finally, Leerink Partners downgraded Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price target on the stock. in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $50.07.

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.