Nomura Holdings Inc. Cuts Stake in Exelixis, Inc. (NASDAQ:EXEL)

Nomura Holdings Inc. reduced its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 35.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,601 shares of the biotechnology company's stock after selling 35,607 shares during the quarter. Nomura Holdings Inc.'s holdings in Exelixis were worth $2,151,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. grew its stake in Exelixis by 308.1% during the 4th quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company's stock valued at $132,376,000 after purchasing an additional 3,001,204 shares during the last quarter. Norges Bank acquired a new stake in Exelixis in the 4th quarter valued at about $94,867,000. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Exelixis by 330.4% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company's stock valued at $82,730,000 after acquiring an additional 1,907,167 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Exelixis by 104.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company's stock worth $105,208,000 after acquiring an additional 1,613,482 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Exelixis by 25.7% during the fourth quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company's stock worth $132,101,000 after acquiring an additional 810,857 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXEL has been the subject of a number of recent research reports. Citigroup lifted their target price on Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Stifel Nicolaus lifted their price target on Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating in a report on Wednesday, May 14th. Piper Sandler lifted their target price on Exelixis from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Morgan Stanley restated an "overweight" rating and issued a $47.00 price target (up previously from $40.00) on shares of Exelixis in a research report on Wednesday, May 14th. Finally, UBS Group reissued an "underperform" rating on shares of Exelixis in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $38.94.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 52,636 shares of Exelixis stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.98, for a total value of $1,946,479.28. Following the transaction, the executive vice president now directly owns 303,310 shares of the company's stock, valued at $11,216,403.80. The trade was a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher J. Senner sold 29,314 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the transaction, the chief financial officer now directly owns 779,607 shares in the company, valued at approximately $28,174,996.98. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 520,942 shares of company stock valued at $22,930,002 over the last ninety days. 2.82% of the stock is owned by corporate insiders.

Exelixis Trading Down 0.7%

NASDAQ EXEL traded down $0.33 on Tuesday, hitting $44.36. 3,484,388 shares of the company's stock were exchanged, compared to its average volume of 2,284,794. The stock has a 50-day moving average of $37.38 and a 200-day moving average of $35.91. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 1.13 and a beta of 0.25. Exelixis, Inc. has a 52 week low of $20.14 and a 52 week high of $48.85.

Exelixis Company Profile

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.