EULAV Asset Management Sells 35,007 Shares of Exelixis, Inc. $EXEL

EULAV Asset Management cut its stake in Exelixis, Inc. (NASDAQ:EXEL) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 535,043 shares of the biotechnology company’s stock after selling 35,007 shares during the quarter. EULAV Asset Management’s holdings in Exelixis were worth $23,451,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Lifestyle Asset Management Inc. lifted its position in Exelixis by 9.6% in the fourth quarter. Lifestyle Asset Management Inc. now owns 41,438 shares of the biotechnology company’s stock worth $1,816,000 after buying an additional 3,630 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position in Exelixis by 190.6% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 7,927 shares of the biotechnology company’s stock worth $347,000 after buying an additional 5,199 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in Exelixis by 6.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company’s stock worth $235,000 after buying an additional 329 shares during the last quarter. Vise Technologies Inc. lifted its position in Exelixis by 21.7% in the fourth quarter. Vise Technologies Inc. now owns 6,606 shares of the biotechnology company’s stock worth $290,000 after buying an additional 1,180 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in Exelixis by 12.5% in the fourth quarter. TD Asset Management Inc now owns 7,200 shares of the biotechnology company’s stock worth $316,000 after buying an additional 800 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EXEL has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research report on Tuesday, May 19th. Stifel Nicolaus raised their price target on Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Zacks Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Morgan Stanley raised their price target on Exelixis from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, HC Wainwright lifted their target price on Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.35.

Exelixis Trading Up 0.4%

Shares of Exelixis stock opened at $52.70 on Friday. The firm has a market cap of $13.25 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.51 and a beta of 0.41. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $52.98. The stock’s fifty day moving average price is $46.96 and its 200-day moving average price is $44.53.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The business had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. Analysts forecast that Exelixis, Inc. will post 3.16 earnings per share for the current year.

Insider Buying and Selling at Exelixis

In other news, CFO Christopher J. Senner sold 34,901 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the sale, the chief financial officer directly owned 952,317 shares of the company’s stock, valued at $47,615,850. The trade was a 3.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sue Gail Eckhardt sold 9,812 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $50.14, for a total transaction of $491,973.68. Following the sale, the director directly owned 16,079 shares in the company, valued at $806,201.06. This trade represents a 37.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 219,170 shares of company stock valued at $10,620,641. Insiders own 2.60% of the company’s stock.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.