Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC lessened its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 13.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,979 shares of the biotechnology company’s stock after selling 3,048 shares during the quarter. Pzena Investment Management LLC’s holdings in Exelixis were worth $455,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in Exelixis by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,364,480 shares of the biotechnology company’s stock worth $80,714,000 after acquiring an additional 28,840 shares in the last quarter. Norges Bank purchased a new position in shares of Exelixis in the fourth quarter worth about $73,449,000. FMR LLC raised its stake in shares of Exelixis by 9.3% in the third quarter. FMR LLC now owns 2,884,424 shares of the biotechnology company’s stock worth $63,025,000 after purchasing an additional 246,605 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Exelixis by 10.7% in the third quarter. Ameriprise Financial Inc. now owns 2,266,932 shares of the biotechnology company’s stock worth $49,489,000 after purchasing an additional 218,757 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Exelixis by 6.0% in the third quarter. AQR Capital Management LLC now owns 2,015,838 shares of the biotechnology company’s stock worth $44,046,000 after purchasing an additional 114,267 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Transactions at Exelixis

In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total transaction of $461,112.05. Following the transaction, the director now owns 35,703 shares of the company’s stock, valued at $857,229.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the transaction, the executive vice president now owns 384,866 shares of the company’s stock, valued at $8,255,375.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan M. Garber sold 19,205 shares of Exelixis stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the sale, the director now owns 35,703 shares in the company, valued at approximately $857,229.03. The disclosure for this sale can be found here. Insiders have sold 88,834 shares of company stock valued at $1,948,054 over the last ninety days. Insiders own 2.85% of the company’s stock.

Exelixis Stock Performance

Shares of NASDAQ:EXEL traded down $0.39 during trading on Thursday, reaching $20.61. The stock had a trading volume of 441,284 shares, compared to its average volume of 2,247,098. The business has a fifty day moving average price of $22.74 and a 200-day moving average price of $22.30. The stock has a market cap of $6.25 billion, a PE ratio of 32.81, a PEG ratio of 0.51 and a beta of 0.57. Exelixis, Inc. has a 1-year low of $18.64 and a 1-year high of $24.34.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). The firm had revenue of $425.23 million during the quarter, compared to analyst estimates of $461.04 million. Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 earnings per share. Sell-side analysts expect that Exelixis, Inc. will post 1.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EXEL has been the subject of several research analyst reports. Barclays cut Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a research note on Thursday, April 11th. TD Cowen lifted their price target on Exelixis from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Stifel Nicolaus lifted their price target on Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. William Blair reiterated an “outperform” rating on shares of Exelixis in a research report on Wednesday, May 1st. Finally, TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, March 18th. 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.com, Exelixis currently has an average rating of “Moderate Buy” and a consensus price target of $26.13.

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.