Sawgrass Asset Management LLC Acquires 72,384 Shares of Exelixis, Inc. $EXEL

Sawgrass Asset Management LLC grew its stake in Exelixis, Inc. (NASDAQ:EXEL) by 41.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 246,386 shares of the biotechnology company’s stock after purchasing an additional 72,384 shares during the period. Exelixis makes up approximately 1.3% of Sawgrass Asset Management LLC’s holdings, making the stock its 23rd largest holding. Sawgrass Asset Management LLC owned approximately 0.09% of Exelixis worth $10,176,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Richardson Financial Services Inc. raised its stake in Exelixis by 95.1% during the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 292 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Exelixis in the 3rd quarter worth about $28,000. Luminist Capital LLC increased its position in shares of Exelixis by 2,740.0% during the 2nd quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 685 shares in the last quarter. Steph & Co. bought a new position in Exelixis during the 2nd quarter valued at about $44,000. Finally, Hantz Financial Services Inc. boosted its position in Exelixis by 940.4% in the second quarter. Hantz Financial Services Inc. now owns 1,134 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 1,025 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling at Exelixis

In other news, EVP Dana Aftab sold 48,383 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total value of $2,056,277.50. Following the transaction, the executive vice president owned 664,778 shares of the company’s stock, valued at approximately $28,253,065. This trade represents a 6.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stelios Papadopoulos sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $43.55, for a total transaction of $4,355,000.00. Following the sale, the director directly owned 1,189,228 shares of the company’s stock, valued at approximately $51,790,879.40. This trade represents a 7.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 245,235 shares of company stock valued at $10,490,600. 2.82% of the stock is currently owned by company insiders.

Exelixis Stock Performance

NASDAQ EXEL opened at $44.27 on Friday. The stock has a market capitalization of $11.87 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 0.80 and a beta of 0.40. Exelixis, Inc. has a 52 week low of $31.90 and a 52 week high of $49.62. The stock has a fifty day moving average of $43.72 and a 200-day moving average of $41.11.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.10. The business had revenue of $597.76 million for the quarter, compared to analyst estimates of $590.04 million. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Equities research analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EXEL. Bank of America cut shares of Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 target price for the company. in a research note on Monday, January 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Exelixis in a research report on Thursday, January 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a research note on Thursday. HC Wainwright increased their target price on Exelixis from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Finally, Truist Financial set a $51.00 price target on Exelixis in a report on Wednesday, January 14th. Eleven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.95.

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.