Exelixis, Inc. (NASDAQ:EXEL) Stock Position Lowered by Systematic Financial Management LP

Systematic Financial Management LP cut its position in Exelixis, Inc. (NASDAQ:EXEL) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,164,317 shares of the biotechnology company’s stock after selling 4,074 shares during the quarter. Exelixis makes up about 1.0% of Systematic Financial Management LP’s holdings, making the stock its 25th biggest position. Systematic Financial Management LP owned about 0.41% of Exelixis worth $38,772,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Exelixis by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 29,429,252 shares of the biotechnology company’s stock valued at $979,994,000 after purchasing an additional 121,750 shares during the period. LSV Asset Management raised its stake in Exelixis by 0.8% during the fourth quarter. LSV Asset Management now owns 8,169,847 shares of the biotechnology company’s stock worth $272,056,000 after buying an additional 67,470 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Exelixis by 10.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 7,630,940 shares of the biotechnology company’s stock worth $254,110,000 after purchasing an additional 708,312 shares during the period. Invesco Ltd. lifted its position in shares of Exelixis by 308.1% during the fourth 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 in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Exelixis by 25.7% in the fourth quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company’s stock valued at $132,101,000 after purchasing an additional 810,857 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXEL has been the subject of several research reports. Guggenheim restated a “buy” rating and issued a $42.00 price objective on shares of Exelixis in a report on Wednesday, February 12th. Stifel Nicolaus boosted their price target on shares of Exelixis from $36.00 to $38.00 and gave the stock a “hold” rating in a research report on Wednesday. Citigroup boosted their target price on shares of Exelixis from $45.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley reissued an “overweight” rating and set a $47.00 price target (up from $40.00) on shares of Exelixis in a research report on Wednesday. Finally, Truist Financial increased their price target on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.76.

Insider Buying and Selling

In other news, EVP Dana Aftab sold 1,508 shares of Exelixis stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $39.00, for a total transaction of $58,812.00. Following the transaction, the executive vice president now owns 693,181 shares in the company, valued at $27,034,059. The trade was a 0.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Patrick J. Haley sold 126,383 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $47.96, for a total value of $6,061,328.68. Following the completion of the sale, the executive vice president now owns 446,459 shares in the company, valued at $21,412,173.64. The trade was a 22.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 520,942 shares of company stock worth $22,930,002 over the last three months. 2.82% of the stock is currently owned by company insiders.

Exelixis Stock Down 1.9%

Shares of Exelixis stock opened at $45.40 on Friday. The stock has a market capitalization of $12.51 billion, a P/E ratio of 25.65, a PEG ratio of 1.13 and a beta of 0.25. The stock has a 50 day moving average price of $37.23 and a two-hundred day moving average price of $35.80. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $48.85.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. Sell-side analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current year.

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.