Jupiter Asset Management Ltd. Boosts Holdings in Exelixis, Inc. $EXEL

Jupiter Asset Management Ltd. increased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 99.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,111,933 shares of the biotechnology company’s stock after buying an additional 1,052,008 shares during the period. Exelixis comprises 0.7% of Jupiter Asset Management Ltd.’s investment portfolio, making the stock its 29th largest holding. Jupiter Asset Management Ltd. owned approximately 0.79% of Exelixis worth $87,223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Richardson Financial Services Inc. increased its position in shares of Exelixis by 95.1% during the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 292 shares during the period. Root Financial Partners LLC acquired a new stake in Exelixis in the 3rd quarter valued at about $28,000. Luminist Capital LLC boosted its stake in shares of Exelixis by 2,740.0% in the 2nd quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 685 shares during the period. Abich Financial Wealth Management LLC acquired a new position in shares of Exelixis during the third quarter worth about $47,000. Finally, Hantz Financial Services Inc. raised its holdings in Exelixis by 940.4% in the second quarter. Hantz Financial Services Inc. now owns 1,134 shares of the biotechnology company’s stock valued at $50,000 after acquiring an additional 1,025 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Activity

In other news, CFO Christopher J. Senner sold 30,617 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $43.67, for a total transaction of $1,337,044.39. Following the completion of the sale, the chief financial officer owned 976,092 shares in the company, valued at $42,625,937.64. This represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bob Oliver sold 30,250 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $43.81, for a total value of $1,325,252.50. Following the sale, the director directly owned 21,120 shares of the company’s stock, valued at approximately $925,267.20. This represents a 58.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 185,484 shares of company stock worth $8,077,993 over the last quarter. 2.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EXEL. Stifel Nicolaus lifted their price objective on shares of Exelixis from $43.00 to $44.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. TD Cowen reissued a “buy” rating on shares of Exelixis in a research report on Wednesday, November 5th. Zacks Research raised Exelixis from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $47.11.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $44.16 on Friday. Exelixis, Inc. has a 1-year low of $32.38 and a 1-year high of $49.62. The stock has a market cap of $11.47 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.00 and a beta of 0.42. The firm has a fifty day moving average price of $43.83 and a 200 day moving average price of $41.15.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.20. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The company had revenue of $598.66 million for the quarter, compared to analyst estimates of $609.17 million. During the same period in the previous year, the business posted $0.55 earnings per share. Exelixis’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

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.