Krensavage Asset Management LLC Has $20.17 Million Stock Holdings in Exelixis, Inc. $EXEL

Krensavage Asset Management LLC cut its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 10.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 370,693 shares of the biotechnology company’s stock after selling 45,000 shares during the quarter. Exelixis makes up approximately 7.7% of Krensavage Asset Management LLC’s holdings, making the stock its 5th biggest holding. Krensavage Asset Management LLC’s holdings in Exelixis were worth $20,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EXEL. BlackRock Inc. bought a new position in shares of Exelixis in the second quarter worth about $1,581,991,000. California State Teachers Retirement System boosted its stake in shares of Exelixis by 4,875.6% in the 2nd quarter. California State Teachers Retirement System now owns 14,785,373 shares of the biotechnology company’s stock valued at $804,472,000 after purchasing an additional 14,488,217 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Exelixis by 48.8% during the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock valued at $598,647,000 after purchasing an additional 4,477,029 shares during the last quarter. Norges Bank bought a new stake in shares of Exelixis during the 4th quarter valued at approximately $106,460,000. Finally, Caisse de depot et placement du Quebec acquired a new position in Exelixis during the 2nd quarter worth approximately $113,951,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on EXEL. Weiss Ratings raised shares of Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Truist Financial decreased their target price on shares of Exelixis from $56.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, August 6th. Citigroup reiterated a “market outperform” rating on shares of Exelixis in a report on Wednesday, July 22nd. Wells Fargo & Company increased their price target on Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, July 13th. Finally, Citizens Jmp raised their price objective on Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $50.07.

Insider Activity

In other news, Director Mary Beckerle sold 9,812 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director owned 16,079 shares of the company’s stock, valued at approximately $862,799.14. This trade represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.60% of the company’s stock.

Exelixis Price Performance

Exelixis stock opened at $58.33 on Thursday. The business has a 50 day moving average of $55.31 and a 200-day moving average of $49.84. The company has a market capitalization of $14.45 billion, a P/E ratio of 18.34, a P/E/G ratio of 1.72 and a beta of 0.42. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $59.72.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business had revenue of $628.69 million for the quarter, compared to the consensus estimate of $636.40 million. During the same period last year, the company earned $0.75 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. Equities analysts anticipate that Exelixis, Inc. will post 3.19 EPS for the current year.

Exelixis Profile

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.