American International Group Inc. Sells 18,814 Shares of Exelixis, Inc. (NASDAQ:EXEL)

American International Group Inc. lessened its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 4.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 403,286 shares of the biotechnology company’s stock after selling 18,814 shares during the period. American International Group Inc.’s holdings in Exelixis were worth $9,570,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LSV Asset Management boosted its holdings in shares of Exelixis by 1,651.4% during the first quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock worth $65,844,000 after purchasing an additional 2,616,278 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Exelixis by 236.3% during the fourth quarter. State of Alaska Department of Revenue now owns 127,287 shares of the biotechnology company’s stock worth $3,053,000 after purchasing an additional 89,436 shares during the period. Advisors Preferred LLC purchased a new stake in shares of Exelixis during the fourth quarter worth about $3,384,000. Los Angeles Capital Management LLC boosted its holdings in shares of Exelixis by 948.3% during the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after purchasing an additional 2,220,150 shares during the period. Finally, NewEdge Wealth LLC boosted its holdings in shares of Exelixis by 45.4% during the fourth quarter. NewEdge Wealth LLC now owns 681,104 shares of the biotechnology company’s stock worth $16,340,000 after purchasing an additional 212,553 shares during the period. Institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

EXEL has been the subject of a number of research reports. Barclays downgraded shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a research note on Thursday, April 11th. William Blair reissued an “outperform” rating on shares of Exelixis in a research note on Wednesday, May 1st. HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of Exelixis in a research note on Friday, May 3rd. Stephens initiated coverage on shares of Exelixis in a research note on Tuesday, May 14th. They issued an “equal weight” rating and a $23.00 price target for the company. Finally, TD Cowen increased their price target on shares of Exelixis from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.13.

Insider Buying and Selling

In other news, Director Jack L. Wyszomierski sold 10,923 shares of Exelixis stock in a transaction on Monday, May 13th. The shares were sold at an average price of $21.37, for a total transaction of $233,424.51. Following the transaction, the director now owns 338,948 shares in the company, valued at approximately $7,243,318.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director George Poste sold 11,686 shares of Exelixis stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $20.96, for a total transaction of $244,938.56. Following the transaction, the director now owns 213,907 shares in the company, valued at approximately $4,483,490.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack L. Wyszomierski sold 10,923 shares of Exelixis stock in a transaction on Monday, May 13th. The stock was sold at an average price of $21.37, for a total transaction of $233,424.51. Following the transaction, the director now owns 338,948 shares in the company, valued at approximately $7,243,318.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,896 shares of company stock worth $660,677. 2.85% of the stock is owned by insiders.

Exelixis Trading Up 2.8 %

EXEL stock traded up $0.63 on Thursday, hitting $22.98. The company had a trading volume of 717,510 shares, compared to its average volume of 2,044,160. Exelixis, Inc. has a 12-month low of $18.64 and a 12-month high of $24.34. The stock’s 50-day simple moving average is $21.85 and its 200 day simple moving average is $22.17. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 35.70, a P/E/G ratio of 0.56 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.16). Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The company had revenue of $425.23 million during the quarter, compared to analysts’ expectations of $461.04 million. During the same quarter in the prior year, the business posted $0.12 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts forecast that Exelixis, Inc. will post 1.14 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.