Stephens Investment Management Group LLC Sells 14,921 Shares of Exelixis, Inc. $EXEL

Stephens Investment Management Group LLC reduced its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,524,500 shares of the biotechnology company’s stock after selling 14,921 shares during the period. Exelixis accounts for about 1.5% of Stephens Investment Management Group LLC’s portfolio, making the stock its 7th largest holding. Stephens Investment Management Group LLC’s holdings in Exelixis were worth $108,276,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Anchor Investment Management LLC lifted its position in shares of Exelixis by 500.0% in the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 500 shares in the last quarter. Motiv8 Investments LLC purchased a new stake in shares of Exelixis during the fourth quarter worth approximately $26,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Exelixis during the fourth quarter worth approximately $29,000. Activest Wealth Management acquired a new position in Exelixis in the 4th quarter valued at $32,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Exelixis by 1,380.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 773 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $55.85 on Friday. The company has a 50 day simple moving average of $50.56 and a 200-day simple moving average of $45.97. The company has a market capitalization of $14.04 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.61 and a beta of 0.42. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $56.21.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. The firm had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 earnings per share. As a group, research analysts expect that Exelixis, Inc. will post 3.16 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on EXEL shares. Citizens Jmp lifted their target price on shares of Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Wednesday, June 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a report on Tuesday, May 19th. Morgan Stanley reiterated a “positive” rating on shares of Exelixis in a research report on Monday, June 22nd. TD Cowen raised their price target on shares of Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Truist Financial lowered shares of Exelixis from a “buy” rating to a “hold” rating and boosted their price target for the stock from $51.00 to $54.00 in a research report on Thursday, June 25th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $47.60.

Insider Activity at Exelixis

In other news, Director Jack L. Wyszomierski sold 3,925 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $50.55, for a total transaction of $198,408.75. Following the completion of the transaction, the director directly owned 284,384 shares in the company, valued at approximately $14,375,611.20. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Dana Aftab sold 43,451 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total value of $2,187,757.85. Following the sale, the executive vice president directly owned 594,741 shares of the company’s stock, valued at $29,945,209.35. The trade was a 6.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 219,170 shares of company stock valued at $10,620,641 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

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.