Pictet Asset Management SA Raises Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Pictet Asset Management SA lifted its holdings in shares of Exelixis, Inc. (NASDAQ:EXELGet Rating) by 16.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 226,584 shares of the biotechnology company’s stock after acquiring an additional 32,065 shares during the quarter. Pictet Asset Management SA’s holdings in Exelixis were worth $4,717,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Walleye Capital LLC increased its position in shares of Exelixis by 224.4% during the second quarter. Walleye Capital LLC now owns 116,543 shares of the biotechnology company’s stock valued at $2,426,000 after acquiring an additional 80,618 shares during the last quarter. Quent Capital LLC increased its position in shares of Exelixis by 4,687.5% during the second quarter. Quent Capital LLC now owns 3,064 shares of the biotechnology company’s stock valued at $64,000 after acquiring an additional 3,000 shares during the last quarter. Bank of Nova Scotia increased its position in Exelixis by 2,148.4% in the second quarter. Bank of Nova Scotia now owns 784,267 shares of the biotechnology company’s stock worth $16,328,000 after buying an additional 749,386 shares during the last quarter. Texas Permanent School Fund increased its position in Exelixis by 3.3% in the second quarter. Texas Permanent School Fund now owns 231,825 shares of the biotechnology company’s stock worth $4,827,000 after buying an additional 7,514 shares during the last quarter. Finally, Donoghue Forlines LLC purchased a new stake in Exelixis in the second quarter worth $440,000. 85.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Piper Sandler raised 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. TheStreet downgraded Exelixis from a “b-” rating to a “c+” rating in a research report on Tuesday, September 13th. StockNews.com assumed coverage on Exelixis in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. JMP Securities began coverage on Exelixis in a research report on Tuesday, October 18th. They issued an “outperform” rating and a $26.00 target price for the company. Finally, Morgan Stanley cut their price target on Exelixis from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, November 2nd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and an average target price of $27.70.

Insider Activity at Exelixis

In related news, EVP Patrick J. Haley sold 40,000 shares of Exelixis stock in a transaction on Monday, September 12th. The stock was sold at an average price of $17.94, for a total transaction 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 $4,692,942.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.90% of the stock is owned by corporate insiders.

Exelixis Price Performance

Exelixis stock opened at $16.91 on Friday. The firm has a market capitalization of $5.45 billion, a P/E ratio of 17.80, a PEG ratio of 0.82 and a beta of 0.70. Exelixis, Inc. has a one year low of $14.87 and a one year high of $23.40. The business has a fifty day moving average price of $16.41 and a 200-day moving average price of $18.61.

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 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.

Further Reading

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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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