Exelixis, Inc. $EXEL Shares Acquired by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. increased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 14.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 291,617 shares of the biotechnology company’s stock after acquiring an additional 36,376 shares during the quarter. Clark Capital Management Group Inc. owned approximately 0.11% of Exelixis worth $12,044,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Exelixis by 20.7% during the 3rd quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock worth $379,190,000 after purchasing an additional 1,575,280 shares during the period. Geode Capital Management LLC grew its position in shares of Exelixis by 0.4% in the second quarter. Geode Capital Management LLC now owns 7,445,469 shares of the biotechnology company’s stock valued at $328,196,000 after purchasing an additional 28,289 shares during the period. Invesco Ltd. increased its stake in Exelixis by 7.1% in the third quarter. Invesco Ltd. now owns 5,960,525 shares of the biotechnology company’s stock valued at $246,170,000 after purchasing an additional 394,897 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Exelixis by 42.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock valued at $231,951,000 after purchasing an additional 1,580,567 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Exelixis by 11.2% during the third quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock worth $172,658,000 after buying an additional 419,596 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Price Performance

Exelixis stock opened at $41.24 on Monday. The stock’s 50-day moving average is $43.31 and its 200-day moving average is $41.71. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 0.93 and a beta of 0.41. Exelixis, Inc. has a 12 month low of $32.38 and a 12 month high of $49.62.

Exelixis (NASDAQ:EXEL) last issued its 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. The business had revenue of $598.66 million during the quarter, compared to analysts’ expectations of $609.17 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. Research analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Activity

In other Exelixis news, CFO Christopher J. Senner sold 34,278 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $43.00, for a total transaction of $1,473,954.00. Following the completion of the sale, the chief financial officer directly owned 1,042,579 shares in the company, valued at $44,830,897. The trade was a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 67,814 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $43.52, for a total transaction of $2,951,265.28. Following the completion of the transaction, the executive vice president directly owned 381,908 shares in the company, valued at approximately $16,620,636.16. This represents a 15.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 362,849 shares of company stock valued at $15,917,463 over the last quarter. 2.85% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on EXEL. Stifel Nicolaus raised their price target on Exelixis from $43.00 to $44.00 and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research note on Thursday, January 22nd. Zacks Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Bank of America cut shares of Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 target price on the stock. in a research report on Monday, January 5th. Finally, Barclays boosted their target price 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. Ten equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.94.

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.