EULAV Asset Management Sells 45,000 Shares of Exelixis, Inc. (NASDAQ:EXEL)

EULAV Asset Management lessened its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 500,000 shares of the biotechnology company’s stock after selling 45,000 shares during the period. EULAV Asset Management owned about 0.18% of Exelixis worth $12,975,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Exelixis during the third quarter valued at about $30,000. Park Place Capital Corp acquired a new stake in shares of Exelixis during the second quarter valued at about $45,000. GAMMA Investing LLC lifted its stake 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 worth $45,000 after acquiring an additional 1,041 shares during the period. EntryPoint Capital LLC lifted its stake in shares of Exelixis by 537.2% in the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 1,746 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in shares of Exelixis in the third quarter worth approximately $61,000. Institutional investors own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EXEL shares. Truist Financial lifted their price objective on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. Oppenheimer reaffirmed an “outperform” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Tuesday, July 30th. BMO Capital Markets lifted their price objective on Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, UBS Group assumed 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.44.

Exelixis Trading Down 0.3 %

Shares of Exelixis stock opened at $34.41 on Wednesday. The stock has a fifty day simple moving average of $29.39 and a 200 day simple moving average of $25.35. Exelixis, Inc. has a 12-month low of $19.20 and a 12-month high of $36.60. The company has a market capitalization of $9.83 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 0.88 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. Exelixis’s revenue was up 14.3% compared to the same quarter last year. On average, analysts predict that Exelixis, Inc. will post 1.68 EPS for the current year.

Insiders Place Their Bets

In other news, Director George Poste sold 30,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the transaction, the director now owns 169,020 shares of the company’s stock, valued at $5,746,680. This represents a 15.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $26.38, for a total value of $659,500.00. Following the sale, the executive vice president now directly owns 605,325 shares in the company, valued at $15,968,473.50. This trade represents a 3.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 289,736 shares of company stock valued at $9,471,510. Insiders own 2.85% of the company’s stock.

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.