Allspring Global Investments Holdings LLC Reduces Position in Exelixis, Inc. (NASDAQ:EXEL)

Allspring Global Investments Holdings LLC cut its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 2.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,380,021 shares of the biotechnology company’s stock after selling 28,498 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Exelixis were worth $33,107,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. boosted its position in Exelixis by 31.5% in the 3rd quarter. American Century Companies Inc. now owns 1,410,113 shares of the biotechnology company’s stock valued at $30,811,000 after buying an additional 338,021 shares during the period. State of Alaska Department of Revenue boosted its position in Exelixis by 236.3% in the 4th quarter. State of Alaska Department of Revenue now owns 127,287 shares of the biotechnology company’s stock valued at $3,053,000 after buying an additional 89,436 shares during the period. Exchange Traded Concepts LLC boosted its position in Exelixis by 244.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 118,359 shares of the biotechnology company’s stock valued at $2,839,000 after buying an additional 83,999 shares during the period. Advisors Preferred LLC bought a new stake in shares of Exelixis in the 4th quarter valued at about $3,384,000. Finally, Seven Eight Capital LP raised its holdings in shares of Exelixis by 61.7% in the 3rd quarter. Seven Eight Capital LP now owns 21,765 shares of the biotechnology company’s stock valued at $476,000 after purchasing an additional 8,305 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Exelixis news, Director David Edward Johnson acquired 190,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were acquired at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the acquisition, the director now directly owns 1,100,730 shares of the company’s stock, valued at $22,785,111. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Patrick J. Haley sold 47,020 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the sale, the executive vice president now directly owns 384,866 shares of the company’s stock, valued at $8,255,375.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Edward Johnson acquired 190,000 shares of Exelixis stock in a transaction on Wednesday, February 21st. The shares were bought at an average price of $20.70 per share, with a total value of $3,933,000.00. Following the completion of the transaction, the director now directly 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. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Stifel Nicolaus boosted their price target on shares of Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a report on Friday, February 2nd. Barclays lowered shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a research note on Thursday. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a research note on Monday, March 18th. Citigroup initiated coverage on shares of Exelixis in a research note on Friday, December 15th. They set a “buy” rating and a $31.00 price objective for the company. Finally, JMP Securities reiterated a “market outperform” rating and set a $27.00 price objective on shares of Exelixis in a research note on Wednesday. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.29.

Exelixis Price Performance

EXEL stock opened at $22.81 on Friday. The firm’s fifty day simple moving average is $22.30 and its 200-day simple moving average is $22.11. The company has a market capitalization of $6.92 billion, a P/E ratio of 35.64, a price-to-earnings-growth ratio of 0.60 and a beta of 0.54. Exelixis, Inc. has a 12 month low of $18.08 and a 12 month high of $24.34.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $479.65 million for the quarter, compared to the consensus estimate of $481.23 million. Exelixis had a net margin of 11.35% and a return on equity of 8.57%. As a group, sell-side analysts forecast that Exelixis, Inc. will post 1.21 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.