Exelixis, Inc. $EXEL Shares Sold by EULAV Asset Management

Key Points

• EULAV Asset Management reduced its Exelixis stake by 9.2% in the third quarter, selling 43,983 shares and retaining 432,060 shares valued at approximately $25.2 million.
• Institutional investors own 85.27% of Exelixis, with several major firms—including BlackRock and Bank of America—holding or increasing significant positions.
• Analysts have a consensus “Hold” rating and a $51.50 price target, despite Exelixis reporting quarterly EPS of $0.91, above the $0.85 estimate, and 10.6% year-over-year revenue growth.

EULAV Asset Management decreased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 9.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 432,060 shares of the biotechnology company's stock after selling 43,983 shares during the period. EULAV Asset Management owned approximately 0.17% of Exelixis worth $25,237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EXEL. BlackRock Inc. acquired a new stake in shares of Exelixis in the 2nd quarter valued at approximately $1,581,991,000. Dimensional Fund Advisors LP boosted its stake in shares of Exelixis by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company's stock valued at $184,391,000 after buying an additional 39,920 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Exelixis by 1.7% in the first quarter. Assetmark Inc. now owns 3,388,920 shares of the biotechnology company's stock valued at $145,351,000 after buying an additional 58,149 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Exelixis by 30.7% in the second quarter. Bank of America Corp DE now owns 2,149,397 shares of the biotechnology company's stock valued at $116,949,000 after buying an additional 504,660 shares in the last quarter. Finally, Caisse de depot et placement du Quebec acquired a new position in Exelixis during the second quarter worth $113,951,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EXEL. Weiss Ratings upgraded Exelixis from a "buy (a-)" rating to a "buy (a)" rating in a research report on Thursday, October 8th. Royal Bank Of Canada raised their target price on Exelixis from $45.00 to $51.00 and gave the company a "sector perform" rating in a report on Friday, October 9th. Leerink Partners lowered shares of Exelixis from an "outperform" rating to a "market perform" rating and set a $52.00 target price on the stock. in a research report on Thursday, August 6th. Stifel Nicolaus boosted their target price on shares of Exelixis from $47.00 to $51.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. Finally, UBS Group set a $55.00 price target on shares of Exelixis in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Exelixis presently has an average rating of "Hold" and a consensus target price of $51.50.

Insider Transactions at Exelixis

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of Exelixis stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director owned 16,079 shares in the company, valued at approximately $862,799.14. The trade was a 37.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.60% of the company's stock.

Exelixis Stock Performance

Shares of EXEL stock opened at $64.53 on Monday. The stock has a fifty day moving average price of $58.19 and a 200 day moving average price of $53.68. The stock has a market cap of $15.99 billion, a PE ratio of 20.29, a P/E/G ratio of 1.81 and a beta of 0.47. Exelixis, Inc. has a 1 year low of $36.00 and a 1 year high of $65.50.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $628.69 million for the quarter, compared to analyst estimates of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. As a group, equities research analysts predict that Exelixis, Inc. will post 3.19 earnings per share for the current year.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company's research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis' lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.

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