Assenagon Asset Management S.A. Has $28.84 Million Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Assenagon Asset Management S.A. trimmed its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 34.6% in the third quarter, HoldingsChannel.com reports. The fund owned 1,111,358 shares of the biotechnology company’s stock after selling 588,870 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Exelixis were worth $28,840,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of EXEL. Lecap Asset Management Ltd. acquired a new stake in Exelixis during the third quarter worth about $326,000. Signaturefd LLC lifted its holdings in shares of Exelixis by 12.2% during the 3rd quarter. Signaturefd LLC now owns 6,138 shares of the biotechnology company’s stock worth $159,000 after acquiring an additional 666 shares during the period. Raymond James & Associates boosted its position in shares of Exelixis by 118.2% during the 3rd quarter. Raymond James & Associates now owns 239,661 shares of the biotechnology company’s stock worth $6,219,000 after acquiring an additional 129,805 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of Exelixis during the 3rd quarter worth approximately $744,000. Finally, Blue Trust Inc. increased its stake in Exelixis by 54.2% in the third quarter. Blue Trust Inc. now owns 6,094 shares of the biotechnology company’s stock valued at $158,000 after acquiring an additional 2,141 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. TD Cowen upped their target price on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Oppenheimer restated an “outperform” rating and set a $29.00 price objective on shares of Exelixis in a research report on Tuesday, July 30th. Royal Bank of Canada lifted their target price on Exelixis from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Stifel Nicolaus increased their target price on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, Truist Financial reaffirmed a “buy” rating and set a $33.00 price target (up from $32.00) on shares of Exelixis in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.57.

Insider Activity at Exelixis

In other news, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total value of $2,375,000.00. Following the transaction, the executive vice president now owns 520,990 shares in the company, valued at approximately $13,024,750. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the executive vice president now directly owns 520,990 shares in the company, valued at approximately $13,024,750. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.79, for a total value of $515,800.00. Following the completion of the transaction, the executive vice president now directly owns 630,325 shares in the company, valued at $16,256,081.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,858 shares of company stock worth $8,640,129 over the last ninety days. Insiders own 2.85% of the company’s stock.

Exelixis Stock Down 0.9 %

Shares of Exelixis stock opened at $27.87 on Friday. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of 43.55, a P/E/G ratio of 0.54 and a beta of 0.54. Exelixis, Inc. has a twelve month low of $19.20 and a twelve month high of $29.75. The company’s fifty day moving average is $26.61 and its 200 day moving average is $24.00.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. The firm had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. As a group, equities analysts anticipate that Exelixis, Inc. will post 1.59 earnings per share for the current fiscal year.

About Exelixis

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.