Franklin Resources Inc. Has $20.85 Million Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Franklin Resources Inc. lessened its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 8.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 794,643 shares of the biotechnology company's stock after selling 72,798 shares during the quarter. Franklin Resources Inc. owned 0.28% of Exelixis worth $20,851,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of EXEL. Hsbc Holdings PLC raised its stake in Exelixis by 45.3% during the second quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company's stock worth $2,031,000 after acquiring an additional 28,126 shares in the last quarter. Farallon Capital Management LLC increased its position in shares of Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company's stock worth $608,993,000 after purchasing an additional 424,000 shares in the last quarter. Seizert Capital Partners LLC lifted its holdings in Exelixis by 8.0% during the 3rd quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company's stock valued at $12,195,000 after purchasing an additional 34,875 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in 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 valued at $46,473,000 after buying an additional 991,494 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Exelixis by 60.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company's stock worth $1,424,000 after buying an additional 20,641 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Buying and Selling

In other news, EVP Patrick J. Haley sold 41,588 shares of the stock in a transaction dated Monday, November 18th. The shares were 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 directly owns 288,665 shares in the company, valued at $9,918,529.40. This represents a 12.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.39, for a total value of $709,750.00. Following the transaction, the executive vice president now directly owns 580,325 shares of the company's stock, valued at $16,475,426.75. This trade represents a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 339,736 shares of company stock worth $11,508,610. 2.85% of the stock is owned by corporate insiders.

Exelixis Price Performance

EXEL traded down $0.39 during trading on Friday, reaching $33.29. The company had a trading volume of 7,648,822 shares, compared to its average volume of 2,082,318. The business's fifty day moving average price is $33.36 and its 200 day moving average price is $27.47. Exelixis, Inc. has a 12 month low of $19.20 and a 12 month high of $36.97. The company has a market cap of $9.51 billion, a P/E ratio of 21.34, a PEG ratio of 0.89 and a beta of 0.52.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same period in the prior year, the business earned $0.10 EPS. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts predict that Exelixis, Inc. will post 1.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EXEL has been the subject of several research analyst reports. TD Cowen lifted their price objective on Exelixis from $27.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, October 21st. The Goldman Sachs Group upgraded Exelixis to a "strong sell" rating in a research report on Tuesday, October 15th. Piper Sandler raised their price target on Exelixis from $33.00 to $36.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Truist Financial lifted their price objective on Exelixis from $33.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, UBS Group assumed coverage on shares of Exelixis in a research report on Thursday, September 19th. They set a "neutral" rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.44.

Exelixis Company 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.