Hennion & Walsh Asset Management Inc. Trims Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Hennion & Walsh Asset Management Inc. trimmed its position in Exelixis, Inc. (NASDAQ:EXEL) by 75.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,540 shares of the biotechnology company’s stock after selling 47,371 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Exelixis were worth $517,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EXEL. Farallon Capital Management LLC grew its holdings in Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after buying an additional 424,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Exelixis by 7.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock valued at $115,434,000 after buying an additional 349,837 shares in the last quarter. AQR Capital Management LLC grew its holdings in Exelixis by 12.7% during the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after buying an additional 370,199 shares in the last quarter. FMR LLC grew its holdings in Exelixis by 6.1% during the 3rd quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock valued at $63,891,000 after buying an additional 140,568 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Exelixis by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after buying an additional 991,494 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 314,736 shares of company stock worth $10,849,110 over the last three months. 2.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Exelixis in a report on Wednesday, October 30th. Oppenheimer increased their price objective on shares of Exelixis from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Truist Financial increased their price objective on shares of Exelixis from $38.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Guggenheim increased their price objective on shares of Exelixis from $33.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Finally, Stephens increased their target price on Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

Exelixis Stock Down 1.0 %

Shares of EXEL opened at $36.20 on Tuesday. The company has a market cap of $10.34 billion, a PE ratio of 23.21, a P/E/G ratio of 0.87 and a beta of 0.53. The business has a fifty day moving average of $34.97 and a 200 day moving average of $29.49. Exelixis, Inc. has a 52-week low of $20.01 and a 52-week high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. Exelixis’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. As a group, research analysts anticipate that Exelixis, Inc. will post 1.7 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.