EULAV Asset Management Lowers Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

EULAV Asset Management cut its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 8.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 500,000 shares of the biotechnology company's stock after selling 45,000 shares during the quarter. EULAV Asset Management owned 0.18% of Exelixis worth $12,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. LSV Asset Management increased its position in shares of Exelixis by 107.7% in the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company's stock valued at $129,511,000 after acquiring an additional 2,989,021 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Exelixis by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company's stock worth $46,473,000 after purchasing an additional 991,494 shares during the last quarter. Swedbank AB purchased a new position in Exelixis during the 1st quarter valued at about $22,455,000. Farallon Capital Management LLC raised its position in Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company's stock valued at $608,993,000 after purchasing an additional 424,000 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Exelixis by 12.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company's stock worth $73,425,000 after buying an additional 370,199 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Exelixis Stock Performance

Shares of NASDAQ:EXEL traded up $0.24 during midday trading on Wednesday, reaching $34.65. 1,758,812 shares of the company's stock traded hands, compared to its average volume of 2,080,114. Exelixis, Inc. has a one year low of $19.20 and a one year high of $36.60. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 0.88 and a beta of 0.51. The stock has a 50 day moving average of $29.39 and a 200 day moving average of $25.35.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million for the quarter, compared to analysts' expectations of $490.31 million. During the same quarter in the prior year, the business earned $0.10 EPS. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. Sell-side analysts predict that Exelixis, Inc. will post 1.68 EPS for the current fiscal year.

Insider Activity at Exelixis

In related news, EVP Dana Aftab sold 96,986 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the completion of the sale, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $17,463,075. The trade was a 16.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Patrick J. Haley sold 41,588 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the completion of the transaction, the executive vice president now owns 288,665 shares in the company, valued at $9,918,529.40. The trade was a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 289,736 shares of company stock worth $9,471,510. 2.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on EXEL shares. BMO Capital Markets lifted their price target on shares of Exelixis from $29.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Stifel Nicolaus boosted their price target on shares of Exelixis from $26.00 to $30.00 and gave the company a "hold" rating in a research report on Wednesday, October 16th. Bank of America increased their price target on shares of Exelixis from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Stephens lifted their price objective on Exelixis from $23.00 to $29.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Finally, JMP Securities reissued a "market outperform" rating and issued a $29.00 target price on shares of Exelixis in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $31.44.

Exelixis Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.