Jupiter Asset Management Ltd. Has $13.98 Million Position in Exelixis, Inc. (NASDAQ:EXEL)

Jupiter Asset Management Ltd. reduced its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 81.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 419,951 shares of the biotechnology company’s stock after selling 1,817,061 shares during the period. Jupiter Asset Management Ltd.’s holdings in Exelixis were worth $13,984,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in Exelixis by 6.1% during the 3rd quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock worth $63,891,000 after purchasing an additional 140,568 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Exelixis by 20.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 2,156,996 shares of the biotechnology company’s stock valued at $71,828,000 after acquiring an additional 366,141 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Exelixis by 6.1% in the 3rd quarter. Two Sigma Advisers LP now owns 1,702,590 shares of the biotechnology company’s stock valued at $44,182,000 after acquiring an additional 98,000 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Exelixis by 82.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock valued at $52,884,000 after acquiring an additional 704,786 shares in the last quarter. Finally, Systematic Financial Management LP raised its holdings in Exelixis by 7.1% in the 3rd quarter. Systematic Financial Management LP now owns 1,168,391 shares of the biotechnology company’s stock valued at $30,320,000 after acquiring an additional 77,599 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays lifted their price objective on Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. BMO Capital Markets cut Exelixis from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $36.00 to $40.00 in a report on Friday, December 20th. Oppenheimer cut Exelixis from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $41.00 to $33.00 in a report on Friday, January 24th. Morgan Stanley raised Exelixis from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $30.00 to $40.00 in a report on Monday, January 27th. Finally, Bank of America lowered Exelixis from a “buy” rating to a “neutral” rating and lifted their price target for the company from $35.00 to $39.00 in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Exelixis has an average rating of “Moderate Buy” and a consensus target price of $37.24.

Exelixis Trading Up 0.7 %

NASDAQ EXEL opened at $37.20 on Thursday. The business’s 50-day moving average price is $35.25 and its two-hundred day moving average price is $32.33. Exelixis, Inc. has a 12 month low of $20.14 and a 12 month high of $40.02. The firm has a market capitalization of $10.41 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last released its quarterly 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%. As a group, analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In other news, Director Jack L. Wyszomierski sold 8,768 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $37.80, for a total value of $331,430.40. Following the transaction, the director now directly owns 356,605 shares of the company’s stock, valued at $13,479,669. The trade was a 2.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick J. Haley sold 52,636 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.98, for a total value of $1,946,479.28. Following the completion of the transaction, the executive vice president now directly owns 303,310 shares in the company, valued at $11,216,403.80. This represents a 14.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,343 shares of company stock worth $5,177,234. Insiders own 2.85% of the company’s stock.

Exelixis Company 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.