Assenagon Asset Management S.A. Sells 588,870 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Assenagon Asset Management S.A. reduced its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 34.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,111,358 shares of the biotechnology company's stock after selling 588,870 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.37% of Exelixis worth $28,840,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXEL. Farallon Capital Management LLC increased its position in shares of Exelixis by 1.6% during the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company's stock worth $608,993,000 after acquiring an additional 424,000 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Exelixis by 0.4% in the 2nd quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company's stock worth $340,714,000 after purchasing an additional 61,350 shares in the last quarter. LSV Asset Management raised its position in shares of Exelixis by 107.7% in the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company's stock worth $129,511,000 after purchasing an additional 2,989,021 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Exelixis by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company's stock worth $115,434,000 after buying an additional 349,837 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Exelixis by 12.7% during the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company's stock worth $73,425,000 after purchasing an additional 370,199 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Analyst Ratings Changes

EXEL has been the topic of several research reports. StockNews.com raised shares of Exelixis from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 13th. The Goldman Sachs Group upgraded Exelixis to a "strong sell" rating in a report on Tuesday, October 15th. JMP Securities reaffirmed a "market outperform" rating and issued a $29.00 target price on shares of Exelixis in a report on Friday, October 11th. Oppenheimer reiterated an "outperform" rating and set a $29.00 price target on shares of Exelixis in a report on Tuesday, July 30th. Finally, Stifel Nicolaus raised their price objective on shares of Exelixis from $26.00 to $30.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.57.

Exelixis Stock Down 0.9 %

NASDAQ:EXEL traded down $0.24 during midday trading on Friday, reaching $27.87. The stock had a trading volume of 1,015,574 shares, compared to its average volume of 1,958,874. The stock has a market cap of $7.95 billion, a P/E ratio of 24.03, a P/E/G ratio of 0.61 and a beta of 0.54. The firm has a fifty day simple moving average of $26.61 and a two-hundred day simple moving average of $24.00. Exelixis, Inc. has a 12-month low of $19.20 and a 12-month high of $29.75.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The business had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. On average, sell-side analysts anticipate that Exelixis, Inc. will post 1.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Dana Aftab sold 95,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the transaction, the executive vice president now owns 520,990 shares of the company's stock, valued at $13,024,750. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the transaction, the chief financial officer now directly owns 721,680 shares of the company's stock, valued at $19,622,479.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Dana Aftab sold 95,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the executive vice president now directly owns 520,990 shares of the company's stock, valued at approximately $13,024,750. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 327,858 shares of company stock worth $8,640,129. Corporate insiders own 2.85% of the company's stock.

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.