Seizert Capital Partners LLC Has $13.94 Million Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Key Points

• Seizert Capital Partners LLC has reduced its holdings in Exelixis, Inc. by 10.0%, selling 42,107 shares, bringing their total ownership to approximately 0.14% of the company.
• Analysts maintain a Moderate Buy rating for Exelixis, with an average price target of $44.72, despite mixed opinions on pricing adjustments from firms like Citigroup and Barclays.
• Exelixis reported a 10.8% year-over-year decline in revenue for the last quarter, with an earnings per share of $0.75, exceeding analyst expectations of $0.63.

Seizert Capital Partners LLC lessened its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 10.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 377,528 shares of the biotechnology company's stock after selling 42,107 shares during the quarter. Seizert Capital Partners LLC owned about 0.14% of Exelixis worth $13,938,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EXEL. Bayforest Capital Ltd purchased a new position in Exelixis in the first quarter valued at about $932,000. Vestcor Inc increased its stake in shares of Exelixis by 166.7% in the first quarter. Vestcor Inc now owns 147,517 shares of the biotechnology company's stock worth $5,446,000 after buying an additional 92,211 shares during the last quarter. XTX Topco Ltd raised its holdings in Exelixis by 32.7% in the first quarter. XTX Topco Ltd now owns 41,066 shares of the biotechnology company's stock valued at $1,516,000 after acquiring an additional 10,117 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Exelixis by 64.2% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 21,674 shares of the biotechnology company's stock valued at $799,000 after acquiring an additional 8,472 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Exelixis by 18.3% during the 1st quarter. Federated Hermes Inc. now owns 483,738 shares of the biotechnology company's stock worth $17,860,000 after acquiring an additional 74,806 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Price Performance

Shares of NASDAQ EXEL traded up $1.04 during midday trading on Friday, reaching $37.26. 5,660,958 shares of the company traded hands, compared to its average volume of 3,398,983. The stock has a 50-day moving average price of $43.03 and a 200 day moving average price of $38.89. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 0.75 and a beta of 0.29. Exelixis, Inc. has a 52 week low of $23.21 and a 52 week high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.12. Exelixis had a return on equity of 27.47% and a net margin of 27.01%. The firm had revenue of $568.26 million during the quarter, compared to analyst estimates of $574.36 million. During the same period last year, the company posted $0.84 EPS. The firm's quarterly revenue was down 10.8% on a year-over-year basis. As a group, analysts expect that Exelixis, Inc. will post 2.04 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EXEL. Wells Fargo & Company reaffirmed a "market outperform" rating on shares of Exelixis in a research report on Thursday, April 17th. Stephens upgraded Exelixis from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $29.00 to $60.00 in a report on Tuesday, June 24th. Truist Financial reduced their price objective on Exelixis from $56.00 to $49.00 and set a "buy" rating on the stock in a research note on Tuesday. Bank of America boosted their target price on shares of Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Finally, Citigroup lifted their price target on shares of Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $44.44.

Insider Activity

In other news, Director Jack L. Wyszomierski sold 7,535 shares of Exelixis stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total value of $324,683.15. Following the transaction, the director directly owned 358,882 shares of the company's stock, valued at $15,464,225.38. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Amy C. Peterson sold 72,776 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $45.47, for a total value of $3,309,124.72. Following the completion of the sale, the chief marketing officer directly owned 465,393 shares of the company's stock, valued at approximately $21,161,419.71. This trade represents a 13.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 456,605 shares of company stock valued at $20,966,005 in the last ninety days. 2.82% of the stock is owned by company insiders.

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.