BI Asset Management Fondsmaeglerselskab A S Has $1.91 Million Position in Exelixis, Inc. $EXEL

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 74.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 43,658 shares of the biotechnology company's stock after selling 130,128 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Exelixis were worth $1,914,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Exelixis by 81.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company's stock worth $1,592,000 after purchasing an additional 19,407 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Exelixis by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company's stock worth $54,153,000 after purchasing an additional 68,133 shares in the last quarter. Focus Partners Wealth raised its position in Exelixis by 83.4% in the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company's stock worth $1,420,000 after purchasing an additional 17,483 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Exelixis by 134.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company's stock worth $61,000 after purchasing an additional 944 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its position in Exelixis by 23.8% in the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company's stock worth $633,000 after purchasing an additional 2,764 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Buying and Selling at Exelixis

In other news, CFO Christopher J. Senner sold 34,901 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the sale, the chief financial officer directly owned 952,317 shares of the company's stock, valued at $47,615,850. This represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sue Gail Eckhardt sold 9,812 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $50.14, for a total transaction of $491,973.68. Following the completion of the transaction, the director owned 16,079 shares in the company, valued at $806,201.06. This represents a 37.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 219,170 shares of company stock valued at $10,620,641 over the last three months. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EXEL. Zacks Research lowered shares of Exelixis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 5th. Barclays increased their price target on shares of Exelixis from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Monday, April 20th. Royal Bank Of Canada dropped their price target on shares of Exelixis from $46.00 to $43.00 and set a "sector perform" rating for the company in a research report on Monday, March 2nd. HC Wainwright increased their price target on shares of Exelixis from $54.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, TD Cowen increased their price target on shares of Exelixis from $51.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $47.35.

Exelixis Trading Up 2.4%

Shares of Exelixis stock opened at $52.99 on Wednesday. The stock has a market capitalization of $13.32 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 1.49 and a beta of 0.41. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $53.28. The firm's 50-day moving average price is $47.38 and its two-hundred day moving average price is $44.68.

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

Exelixis Company 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.

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