Exelixis, Inc. $EXEL Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP trimmed its position in Exelixis, Inc. (NASDAQ:EXEL) by 9.9% in the fourth quarter, Holdings Channel reports. The firm owned 987,310 shares of the biotechnology company’s stock after selling 107,936 shares during the quarter. Exelixis accounts for 1.0% of Systematic Financial Management LP’s holdings, making the stock its 23rd biggest holding. Systematic Financial Management LP’s holdings in Exelixis were worth $43,274,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Farallon Capital Management LLC grew its stake in Exelixis by 21.6% in the third quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock worth $805,412,000 after purchasing an additional 3,466,000 shares in the last quarter. AQR Capital Management LLC grew its stake in Exelixis by 20.7% in the third quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock worth $379,190,000 after purchasing an additional 1,575,280 shares in the last quarter. Invesco Ltd. grew its stake in Exelixis by 7.1% in the third quarter. Invesco Ltd. now owns 5,960,525 shares of the biotechnology company’s stock worth $246,170,000 after purchasing an additional 394,897 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Exelixis by 11.2% in the third quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock worth $172,658,000 after purchasing an additional 419,596 shares in the last quarter. Finally, UBS Group AG grew its stake in Exelixis by 40.2% in the fourth quarter. UBS Group AG now owns 3,722,334 shares of the biotechnology company’s stock worth $163,150,000 after purchasing an additional 1,067,265 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on EXEL shares. Royal Bank Of Canada decreased their price target on Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. Morgan Stanley lifted their target price on Exelixis from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. HC Wainwright lifted their target price on Exelixis from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Barclays lifted their target price on Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Finally, Zacks Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Exelixis presently has an average rating of “Hold” and a consensus target price of $47.35.

Exelixis Stock Up 1.0%

Shares of EXEL stock opened at $50.15 on Friday. The business has a 50 day moving average of $45.10 and a two-hundred day moving average of $43.84. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $51.63. The company has a market cap of $12.61 billion, a P/E ratio of 16.66, a PEG ratio of 1.06 and a beta of 0.38.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. During the same period in the previous year, the firm posted $0.55 earnings per share. Exelixis’s quarterly revenue was up 10.0% compared to the same quarter last year. Analysts expect that Exelixis, Inc. will post 3.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Dana Aftab sold 47,918 shares of Exelixis stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the sale, the executive vice president owned 616,106 shares of the company’s stock, valued at approximately $27,416,717. The trade was a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher J. Senner sold 34,901 shares of Exelixis stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $50.00, for a total value of $1,745,050.00. Following the sale, the chief financial officer directly owned 952,317 shares in the company, valued at approximately $47,615,850. This trade represents a 3.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 209,900 shares of company stock valued at $9,874,852 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Exelixis Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.