Securian Asset Management Inc. Reduces Position in Exelixis, Inc. (NASDAQ:EXEL)

Securian Asset Management Inc. lessened its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,589 shares of the biotechnology company’s stock after selling 592 shares during the period. Securian Asset Management Inc.’s holdings in Exelixis were worth $719,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EXEL. Allspring Global Investments Holdings LLC grew its position in Exelixis by 82.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock worth $52,884,000 after purchasing an additional 704,786 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Exelixis during the 3rd quarter worth approximately $14,979,000. Raymond James Financial Inc. purchased a new stake in Exelixis during the 4th quarter worth approximately $17,046,000. Burney Co. acquired a new stake in Exelixis during the 4th quarter valued at approximately $12,267,000. Finally, Los Angeles Capital Management LLC lifted its stake in Exelixis by 20.4% during 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 during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $36.65 on Monday. The firm has a market cap of $10.26 billion, a PE ratio of 20.71, a PEG ratio of 1.13 and a beta of 0.57. The firm has a fifty day moving average of $35.36 and a 200 day moving average of $32.53. Exelixis, Inc. has a one year low of $20.14 and a one year high of $40.02.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. On average, equities analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Insider Transactions at Exelixis

In other news, Director Mary C. Beckerle sold 12,210 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $34.88, for a total transaction of $425,884.80. Following the completion of the sale, the director now owns 30,406 shares of the company’s stock, valued at $1,060,561.28. This represents a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $38.80, for a total transaction of $388,000.00. Following the sale, the executive vice president now directly owns 341,028 shares of the company’s stock, valued at $13,231,886.40. The trade was a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,343 shares of company stock valued at $5,177,234 over the last 90 days. 2.85% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

EXEL has been the subject of several research reports. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Exelixis in a research note on Thursday, February 13th. Royal Bank of Canada lifted their price objective on shares of Exelixis from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday. Brookline Capital Management initiated coverage on shares of Exelixis in a research note on Monday, December 23rd. They set a “buy” rating for the company. Guggenheim restated a “buy” rating and set a $42.00 price objective on shares of Exelixis in a research note on Wednesday, February 12th. Finally, Piper Sandler lifted their price objective on shares of Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $37.59.

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.