LSV Asset Management Sells 879,211 Shares of Exelixis, Inc. (NASDAQ:EXEL)

LSV Asset Management trimmed its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 84.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,429 shares of the biotechnology company’s stock after selling 879,211 shares during the quarter. LSV Asset Management’s holdings in Exelixis were worth $3,801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Acadian Asset Management LLC grew its stake in Exelixis by 1,043.9% in the 3rd quarter. Acadian Asset Management LLC now owns 1,957,848 shares of the biotechnology company’s stock worth $42,750,000 after acquiring an additional 1,786,687 shares in the last quarter. abrdn plc acquired a new position in shares of Exelixis in the 4th quarter valued at $15,997,000. California Public Employees Retirement System boosted its stake in shares of Exelixis by 42.3% during the 3rd quarter. California Public Employees Retirement System now owns 1,771,128 shares of the biotechnology company’s stock worth $38,699,000 after acquiring an additional 526,814 shares in the last quarter. NewEdge Wealth LLC purchased a new position in Exelixis during the third quarter worth approximately $10,238,000. Finally, Braun Stacey Associates Inc. acquired a new stake in Exelixis in the 4th quarter valued at $10,414,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Down 2.5 %

Shares of Exelixis stock opened at $21.59 on Thursday. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 0.59 and a beta of 0.57. Exelixis, Inc. has a 52-week low of $18.52 and a 52-week high of $24.34. The company’s 50-day simple moving average is $22.98 and its 200-day simple moving average is $22.24.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.16). The business had revenue of $425.23 million during the quarter, compared to analyst estimates of $461.04 million. Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 earnings per share. Equities research analysts anticipate that Exelixis, Inc. will post 1.17 EPS for the current year.

Insider Activity at Exelixis

In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the transaction, the director now directly owns 35,703 shares of the company’s stock, valued at $857,229.03. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Alan M. Garber sold 19,205 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the sale, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Edward Johnson bought 190,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were acquired at an average price of $20.70 per share, with a total value of $3,933,000.00. Following the transaction, the director now owns 1,100,730 shares of the company’s stock, valued at approximately $22,785,111. The disclosure for this purchase can be found here. Company insiders own 2.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Royal Bank of Canada boosted their price objective on Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. JMP Securities reiterated a “market outperform” rating and set a $27.00 price target on shares of Exelixis in a report on Wednesday, April 10th. William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Wednesday, May 1st. TheStreet raised shares of Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, March 18th. Finally, Barclays downgraded Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a report on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

Exelixis 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.