Systematic Financial Management LP Has $30.32 Million Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Systematic Financial Management LP increased its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 7.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,168,391 shares of the biotechnology company's stock after purchasing an additional 77,599 shares during the period. Systematic Financial Management LP owned 0.41% of Exelixis worth $30,320,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EXEL. Tidal Investments LLC increased its position in Exelixis by 10.0% in the 1st quarter. Tidal Investments LLC now owns 9,710 shares of the biotechnology company's stock valued at $230,000 after acquiring an additional 886 shares during the period. Cetera Advisors LLC purchased a new position in shares of Exelixis during the 1st quarter worth approximately $327,000. GAMMA Investing LLC raised its position in shares of Exelixis by 107.9% in the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company's stock valued at $45,000 after buying an additional 1,041 shares during the last quarter. CWM LLC boosted its position in Exelixis by 27.4% during the second quarter. CWM LLC now owns 19,988 shares of the biotechnology company's stock worth $449,000 after acquiring an additional 4,301 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Exelixis during the second quarter worth about $489,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Price Performance

Shares of Exelixis stock traded up $0.21 during midday trading on Thursday, hitting $35.98. The company had a trading volume of 975,093 shares, compared to its average volume of 2,063,660. Exelixis, Inc. has a 1-year low of $19.20 and a 1-year high of $36.97. The business's 50 day simple moving average is $31.38 and its two-hundred day simple moving average is $26.42. The stock has a market cap of $10.28 billion, a PE ratio of 22.93, a P/E/G ratio of 0.89 and a beta of 0.52.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on EXEL shares. Guggenheim increased their price objective on shares of Exelixis from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. BMO Capital Markets raised their target price on Exelixis from $29.00 to $36.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Truist Financial upped their price objective on Exelixis from $33.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Stifel Nicolaus upped their price target on Exelixis from $26.00 to $30.00 and gave the company a "hold" rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group raised shares of Exelixis to a "strong sell" rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Exelixis presently has an average rating of "Moderate Buy" and an average target price of $31.44.

Insiders Place Their Bets

In other Exelixis news, Director George Poste sold 30,000 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the sale, the director now owns 169,020 shares of the company's stock, valued at approximately $5,746,680. This represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dana Aftab sold 1,162 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the sale, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $15,666,873. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 339,736 shares of company stock valued at $11,508,610. 2.85% of the stock is currently owned by insiders.

About Exelixis

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.