LSV Asset Management Sells 879,211 Shares of Exelixis, Inc. (NASDAQ:EXEL)

LSV Asset Management trimmed its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 84.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,429 shares of the biotechnology company’s stock after selling 879,211 shares during the quarter. LSV Asset Management owned approximately 0.05% of Exelixis worth $3,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXEL. Commonwealth Equity Services LLC raised its holdings in Exelixis by 4.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 120,479 shares of the biotechnology company’s stock worth $2,632,000 after purchasing an additional 4,639 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Exelixis by 432.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 22,853 shares of the biotechnology company’s stock valued at $499,000 after acquiring an additional 18,560 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Exelixis by 2.7% during the 3rd quarter. New York State Teachers Retirement System now owns 410,760 shares of the biotechnology company’s stock worth $8,975,000 after acquiring an additional 10,719 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Exelixis by 6.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,246 shares of the biotechnology company’s stock worth $1,207,000 after acquiring an additional 3,241 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Exelixis by 13.2% in the 3rd quarter. Mackenzie Financial Corp now owns 216,586 shares of the biotechnology company’s stock valued at $4,739,000 after purchasing an additional 25,293 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Exelixis

In other news, Director David Edward Johnson purchased 190,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average price of $20.70 per share, with a total value of $3,933,000.00. Following the transaction, the director now directly owns 1,100,730 shares of the company’s stock, valued at $22,785,111. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Alan M. Garber sold 19,205 shares of Exelixis stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the transaction, the director now directly owns 35,703 shares in the company, valued at $857,229.03. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Edward Johnson acquired 190,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were bought at an average cost of $20.70 per share, for a total transaction of $3,933,000.00. Following the acquisition, the director now directly owns 1,100,730 shares in the company, valued at approximately $22,785,111. The disclosure for this purchase can be found here. Corporate insiders own 2.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on EXEL. Barclays cut Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a research note on Thursday, April 11th. Royal Bank of Canada raised their price objective on shares of Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. TD Cowen boosted their target price on shares of Exelixis from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. HC Wainwright restated a “buy” rating and issued a $28.00 price target on shares of Exelixis in a report on Friday, May 3rd. Finally, Stifel Nicolaus upped their price objective on shares of Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $26.33.

Exelixis Stock Performance

NASDAQ EXEL opened at $21.59 on Thursday. The company has a market capitalization of $6.29 billion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 0.59 and a beta of 0.57. Exelixis, Inc. has a 52-week low of $18.52 and a 52-week high of $24.34. The company has a 50-day simple moving average of $22.98 and a 200 day simple moving average of $22.24.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.16). Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The company had revenue of $425.23 million for the quarter, compared to analysts’ expectations of $461.04 million. During the same quarter in the previous year, the business earned $0.12 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts forecast that Exelixis, Inc. will post 1.17 EPS for the current fiscal year.

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.