DnB Asset Management AS Grows Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

DnB Asset Management AS increased its stake in Exelixis, Inc. (NASDAQ:EXELGet Rating) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,602 shares of the biotechnology company’s stock after purchasing an additional 804 shares during the quarter. DnB Asset Management AS’s holdings in Exelixis were worth $304,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. grew its position in shares of Exelixis by 2.6% in the first quarter. Crossmark Global Holdings Inc. now owns 31,310 shares of the biotechnology company’s stock valued at $709,000 after purchasing an additional 800 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Exelixis by 1.1% in the first quarter. Nordea Investment Management AB now owns 303,581 shares of the biotechnology company’s stock valued at $6,831,000 after purchasing an additional 3,188 shares in the last quarter. State of Tennessee Treasury Department grew its position in shares of Exelixis by 143.1% in the first quarter. State of Tennessee Treasury Department now owns 339,804 shares of the biotechnology company’s stock valued at $7,703,000 after purchasing an additional 200,000 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Exelixis by 7.7% in the first quarter. Teacher Retirement System of Texas now owns 65,273 shares of the biotechnology company’s stock valued at $1,480,000 after purchasing an additional 4,644 shares in the last quarter. Finally, Dupont Capital Management Corp grew its position in shares of Exelixis by 95.2% in the first quarter. Dupont Capital Management Corp now owns 29,982 shares of the biotechnology company’s stock valued at $680,000 after purchasing an additional 14,625 shares in the last quarter. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Patrick J. Haley sold 40,000 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $17.94, for a total value of $717,600.00. Following the completion of the sale, the executive vice president now owns 261,591 shares of the company’s stock, valued at approximately $4,692,942.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Exelixis Stock Up 0.4 %

Shares of EXEL stock opened at $16.57 on Friday. The business has a 50-day moving average price of $19.30 and a two-hundred day moving average price of $20.30. Exelixis, Inc. has a 12-month low of $15.50 and a 12-month high of $23.40. The firm has a market cap of $5.33 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 0.53 and a beta of 0.65.

Exelixis (NASDAQ:EXELGet Rating) last issued its quarterly earnings results on Tuesday, August 9th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Exelixis had a return on equity of 12.10% and a net margin of 17.53%. The firm had revenue of $419.43 million during the quarter, compared to analyst estimates of $391.09 million. As a group, research analysts expect that Exelixis, Inc. will post 0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EXEL shares. Morgan Stanley lifted their price target on Exelixis from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, July 15th. TheStreet cut Exelixis from a “b-” rating to a “c+” rating in a research report on Tuesday, September 13th. Cowen boosted their target price on Exelixis to $26.00 in a research report on Monday, August 15th. BMO Capital Markets started coverage on Exelixis in a research report on Thursday, June 23rd. They set an “outperform” rating and a $28.00 target price for the company. Finally, Piper Sandler boosted their target price on Exelixis from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 26th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.88.

About Exelixis

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Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.

See Also

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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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