Kazazian Asset Management LLC Lowers Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Key Points

• Kazazian Asset Management LLC reduced its stake in Exelixis, Inc. by 77.1%, selling 22,350 shares and leaving it with a total of 6,650 shares valued at approximately $246,000.
• Multiple institutional investors increased their positions in Exelixis, with notable increases from Invesco Ltd. (308.1%) and Fuller & Thaler Asset Management Inc. (10.2%) during the 4th quarter.
• Exelixis reported a net margin of 27.01% with quarterly revenue of $568.26 million, reflecting a 10.8% decrease compared to the previous year, as well as an EPS of $0.75, exceeding analysts' expectations.

Kazazian Asset Management LLC decreased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 77.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,650 shares of the biotechnology company's stock after selling 22,350 shares during the quarter. Kazazian Asset Management LLC's holdings in Exelixis were worth $246,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of EXEL. Coppell Advisory Solutions LLC acquired a new position in shares of Exelixis in the fourth quarter valued at approximately $25,000. Colonial Trust Co SC increased its holdings in Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after purchasing an additional 765 shares during the period. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Exelixis during the first quarter worth $37,000. Harbour Investments Inc. lifted its stake in Exelixis by 900.0% in the first quarter. Harbour Investments Inc. now owns 1,100 shares of the biotechnology company's stock valued at $41,000 after buying an additional 990 shares during the period. Finally, Hurley Capital LLC bought a new stake in Exelixis in the 4th quarter valued at about $68,000. Institutional investors own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EXEL. Bank of America boosted their target price on shares of Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. JMP Securities reissued a "market outperform" rating and issued a $50.00 price objective on shares of Exelixis in a research note on Tuesday, July 29th. HC Wainwright upped their price target on Exelixis from $47.00 to $53.00 and gave the stock a "buy" rating in a report on Monday, June 30th. William Blair restated an "outperform" rating on shares of Exelixis in a research note on Tuesday, July 29th. Finally, Wall Street Zen lowered shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $44.44.

Insider Buying and Selling at Exelixis

In other news, Director Tomas J. Heyman sold 4,544 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $44.29, for a total transaction of $201,253.76. Following the sale, the director owned 32,470 shares in the company, valued at approximately $1,438,096.30. The trade was a 12.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sue Gail Eckhardt sold 18,838 shares of Exelixis stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $42.74, for a total transaction of $805,136.12. Following the completion of the transaction, the director directly owned 21,380 shares of the company's stock, valued at $913,781.20. This trade represents a 46.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 456,605 shares of company stock worth $20,966,005. Insiders own 2.85% of the company's stock.

Exelixis Price Performance

NASDAQ EXEL traded down $0.45 during trading on Monday, hitting $36.81. 4,382,488 shares of the company's stock traded hands, compared to its average volume of 3,689,321. The firm has a market cap of $9.91 billion, a P/E ratio of 17.70, a PEG ratio of 0.77 and a beta of 0.29. The stock has a fifty day moving average of $42.93 and a two-hundred day moving average of $38.93. Exelixis, Inc. has a 12-month low of $23.21 and a 12-month high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced 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. The company had revenue of $568.26 million for the quarter, compared to the consensus estimate of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%. Exelixis's revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 EPS. As a group, analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

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.