Stephens Investment Management Group LLC Buys 28,265 Shares of Exelixis, Inc. $EXEL

Key Points

• Stephens Investment Management Group increased its Exelixis stake by 1.1% in the fourth quarter, buying 28,265 shares and bringing its total to 2.54 million shares worth about $111.3 million.
• Several insiders sold shares recently, including directors Maria C. Freire and George Poste, and insiders have sold 382,811 shares worth $17.0 million over the last 90 days.
• Exelixis reported strong quarterly results, with EPS of $0.87 beating estimates and revenue of $610.8 million, while analysts currently maintain a consensus rating of Hold with an average price target of $47.35.

Stephens Investment Management Group LLC lifted its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,539,421 shares of the biotechnology company's stock after purchasing an additional 28,265 shares during the quarter. Exelixis comprises about 1.4% of Stephens Investment Management Group LLC's investment portfolio, making the stock its 4th biggest position. Stephens Investment Management Group LLC owned about 0.95% of Exelixis worth $111,303,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BridgePort Financial Solutions LLC acquired a new stake in shares of Exelixis during the third quarter worth $517,000. Candriam S.C.A. boosted its holdings in Exelixis by 18.4% in the third quarter. Candriam S.C.A. now owns 696,104 shares of the biotechnology company's stock valued at $28,749,000 after acquiring an additional 108,367 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Exelixis by 11.2% in the third quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company's stock valued at $172,658,000 after acquiring an additional 419,596 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Exelixis by 153.3% in the third quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company's stock valued at $101,720,000 after acquiring an additional 1,490,520 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its holdings in Exelixis by 19.1% in the third quarter. Illinois Municipal Retirement Fund now owns 204,211 shares of the biotechnology company's stock valued at $8,434,000 after acquiring an additional 32,737 shares during 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, Director Maria C. Freire sold 20,634 shares of Exelixis stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $46.00, for a total transaction of $949,164.00. Following the sale, the director directly owned 100,819 shares of the company's stock, valued at approximately $4,637,674. The trade was a 16.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George Poste sold 60,000 shares of Exelixis stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $45.71, for a total value of $2,742,600.00. Following the sale, the director directly owned 118,832 shares in the company, valued at approximately $5,431,810.72. The trade was a 33.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 382,811 shares of company stock valued at $17,014,813. Company insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EXEL shares. Truist Financial upgraded Exelixis to a "strong-buy" rating in a report on Monday, April 27th. Wells Fargo & Company lifted their target price on Exelixis from $35.00 to $40.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. HC Wainwright lifted their target price on Exelixis from $54.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Royal Bank Of Canada cut their price objective on Exelixis from $46.00 to $43.00 and set a "sector perform" rating on the stock in a research report on Monday, March 2nd. Finally, Morgan Stanley raised their price objective on Exelixis from $49.00 to $50.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $47.35.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $50.13 on Friday. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $51.63. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.06 and a beta of 0.38. The stock's 50-day simple moving average is $44.30 and its 200-day simple moving average is $43.48.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The business had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. During the same period in the previous year, the company earned $0.55 earnings per share. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, research analysts predict that Exelixis, Inc. will post 3.15 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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