Exelixis, Inc. $EXEL Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB reduced its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 12.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 213,101 shares of the biotechnology company’s stock after selling 30,358 shares during the period. Nordea Investment Management AB owned about 0.08% of Exelixis worth $9,340,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Exelixis by 81.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock valued at $1,592,000 after acquiring an additional 19,407 shares during the period. Goldman Sachs Group Inc. grew its position in Exelixis by 4.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock valued at $54,153,000 after acquiring an additional 68,133 shares in the last quarter. Focus Partners Wealth increased its stake in Exelixis by 83.4% during the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock worth $1,420,000 after purchasing an additional 17,483 shares during the period. Geneos Wealth Management Inc. increased its stake in Exelixis by 134.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 944 shares during the period. Finally, Sivia Capital Partners LLC lifted its position in shares of Exelixis by 23.8% during the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock worth $633,000 after purchasing an additional 2,764 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Performance

EXEL stock opened at $42.78 on Thursday. The company’s 50 day moving average price is $42.88 and its 200 day moving average price is $41.91. The firm has a market capitalization of $11.11 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.93 and a beta of 0.41. Exelixis, Inc. has a fifty-two week low of $32.38 and a fifty-two week high of $49.62.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The company had revenue of $598.66 million during the quarter, compared to the consensus estimate of $609.17 million. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. Equities analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In other Exelixis news, SVP Brenda Hefti sold 18,669 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total value of $821,622.69. Following the sale, the senior vice president directly owned 96,512 shares in the company, valued at $4,247,493.12. This trade represents a 16.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher J. Senner sold 30,617 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $43.67, for a total value of $1,337,044.39. Following the completion of the sale, the chief financial officer owned 976,092 shares in the company, valued at approximately $42,625,937.64. This represents a 3.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 362,849 shares of company stock worth $15,917,463. 2.82% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Exelixis from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Morgan Stanley increased their target price on shares of Exelixis from $48.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. Bank of America downgraded shares of Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price target for the company. in a research note on Monday, January 5th. Royal Bank Of Canada cut their price objective on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Finally, Zacks Research cut Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Ten research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.94.

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.