Acadian Asset Management LLC Has $28.90 Million Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Acadian Asset Management LLC lowered its stake in Exelixis, Inc. (NASDAQ:EXEL) by 31.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,218,514 shares of the biotechnology company’s stock after selling 553,663 shares during the period. Acadian Asset Management LLC owned approximately 0.42% of Exelixis worth $28,899,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of EXEL. Capital Management Corp VA boosted its holdings in Exelixis by 17.4% in the 1st quarter. Capital Management Corp VA now owns 459,780 shares of the biotechnology company’s stock valued at $10,911,000 after purchasing an additional 68,185 shares during the period. Intech Investment Management LLC lifted its stake in Exelixis by 155.8% in the 1st quarter. Intech Investment Management LLC now owns 100,039 shares of the biotechnology company’s stock valued at $2,374,000 after purchasing an additional 60,925 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Exelixis in the 1st quarter valued at approximately $1,216,000. Jupiter Asset Management Ltd. increased its position in Exelixis by 148.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock valued at $53,817,000 after acquiring an additional 1,354,062 shares during the period. Finally, Blair William & Co. IL increased its position in Exelixis by 1.2% in the 1st quarter. Blair William & Co. IL now owns 758,969 shares of the biotechnology company’s stock valued at $18,010,000 after acquiring an additional 8,953 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EXEL. TD Cowen raised their price objective on shares of Exelixis from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. William Blair reiterated an “outperform” rating on shares of Exelixis in a research report on Wednesday, May 1st. JMP Securities restated a “market outperform” rating and issued a $27.00 price objective on shares of Exelixis in a report on Wednesday, April 10th. Barclays lowered shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a report on Thursday, April 11th. Finally, HC Wainwright reissued a “buy” rating and set a $28.00 price objective on shares of Exelixis in a research report on Friday, May 3rd. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.13.

Insider Buying and Selling at Exelixis

In other news, Director Jack L. Wyszomierski sold 10,923 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $21.37, for a total value of $233,424.51. Following the completion of the transaction, the director now owns 338,948 shares in the company, valued at $7,243,318.76. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Jack L. Wyszomierski sold 10,923 shares of Exelixis stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $21.37, for a total value of $233,424.51. Following the transaction, the director now directly owns 338,948 shares of the company’s stock, valued at approximately $7,243,318.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Edward Johnson purchased 200,000 shares of Exelixis stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $20.32 per share, for a total transaction of $4,064,000.00. Following the completion of the transaction, the director now directly owns 1,300,730 shares in the company, valued at approximately $26,430,833.60. The disclosure for this purchase can be found here. Insiders have sold 30,896 shares of company stock worth $660,677 over the last three months. Insiders own 2.85% of the company’s stock.

Exelixis Price Performance

NASDAQ EXEL traded up $0.13 on Monday, hitting $22.73. The company had a trading volume of 459,543 shares, compared to its average volume of 2,062,563. The company has a market capitalization of $6.89 billion, a PE ratio of 35.30, a PEG ratio of 0.56 and a beta of 0.54. The company’s fifty day moving average price is $21.77 and its 200-day moving average price is $22.18. Exelixis, Inc. has a 12-month low of $18.64 and a 12-month high of $24.34.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The company had revenue of $425.23 million during the quarter, compared to analyst estimates of $461.04 million. During the same period in the previous year, the company earned $0.12 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Exelixis, Inc. will post 1.14 EPS for the current year.

Exelixis 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.