Stephens Investment Management Group LLC Has $98.78 Million Position in Exelixis, Inc. (NASDAQ:EXEL)

Stephens Investment Management Group LLC lowered its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 1.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,806,564 shares of the biotechnology company's stock after selling 73,943 shares during the quarter. Exelixis makes up about 1.3% of Stephens Investment Management Group LLC's holdings, making the stock its 16th biggest position. Stephens Investment Management Group LLC owned about 1.33% of Exelixis worth $98,780,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Resonant Capital Advisors LLC increased its stake in shares of Exelixis by 3.6% during the 2nd quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company's stock valued at $309,000 after acquiring an additional 477 shares during the last quarter. Cornercap Investment Counsel Inc. raised its stake in Exelixis by 1.1% during the second quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company's stock worth $1,135,000 after purchasing an additional 539 shares during the period. Creative Planning boosted its holdings in shares of Exelixis by 0.8% in the 2nd quarter. Creative Planning now owns 71,700 shares of the biotechnology company's stock valued at $1,611,000 after purchasing an additional 548 shares during the last quarter. Signaturefd LLC grew its stake in shares of Exelixis by 12.2% during the 3rd quarter. Signaturefd LLC now owns 6,138 shares of the biotechnology company's stock valued at $159,000 after buying an additional 666 shares during the period. Finally, Tidal Investments LLC increased its holdings in shares of Exelixis by 10.0% during the 1st quarter. Tidal Investments LLC now owns 9,710 shares of the biotechnology company's stock worth $230,000 after buying an additional 886 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Exelixis

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 580,325 shares in the company, valued at approximately $16,475,426.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Exelixis news, Director Maria C. Freire sold 8,250 shares of the company's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total transaction of $219,120.00. Following the sale, the director now directly owns 91,007 shares of the company's stock, valued at approximately $2,417,145.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.39, for a total transaction of $709,750.00. Following the completion of the transaction, the executive vice president now owns 580,325 shares of the company's stock, valued at $16,475,426.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 352,858 shares of company stock worth $9,349,879. Company insiders own 2.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EXEL shares. HC Wainwright reiterated a "buy" rating and issued a $29.00 target price on shares of Exelixis in a report on Wednesday, September 18th. UBS Group initiated coverage on Exelixis in a research note on Thursday, September 19th. They issued a "neutral" rating and a $30.00 price objective on the stock. TD Cowen raised their price target on shares of Exelixis from $27.00 to $34.00 and gave the company a "buy" rating in a report on Monday, October 21st. Bank of America increased their price objective on shares of Exelixis from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Finally, Truist Financial lifted their target price on shares of Exelixis from $33.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $31.44.

Exelixis Stock Up 2.8 %

Shares of EXEL traded up $0.92 during mid-day trading on Friday, hitting $34.12. 4,537,015 shares of the company's stock were exchanged, compared to its average volume of 2,070,353. Exelixis, Inc. has a twelve month low of $19.20 and a twelve month high of $34.45. The firm has a fifty day moving average of $26.96 and a two-hundred day moving average of $24.21. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 0.69 and a beta of 0.54.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. On average, equities analysts predict that Exelixis, Inc. will post 1.59 earnings per share for the current year.

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.