Krensavage Asset Management LLC Sells 395,781 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Krensavage Asset Management LLC decreased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 23.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,281,612 shares of the biotechnology company’s stock after selling 395,781 shares during the quarter. Exelixis accounts for 18.6% of Krensavage Asset Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Krensavage Asset Management LLC’s holdings in Exelixis were worth $33,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Exelixis during the third quarter worth approximately $30,000. Brooklyn Investment Group acquired a new stake in shares of Exelixis during the 3rd quarter valued at $42,000. GAMMA Investing LLC boosted its stake in shares of Exelixis by 107.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 1,041 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Exelixis during the 3rd quarter worth $61,000. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Exelixis in the 3rd quarter worth $74,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Stock Down 0.6 %

EXEL stock opened at $35.82 on Friday. The firm has a 50 day moving average of $31.77 and a two-hundred day moving average of $26.59. Exelixis, Inc. has a 12 month low of $19.20 and a 12 month high of $36.97. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of 0.90 and a beta of 0.52.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data 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. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. During the same period in the prior year, the company posted $0.10 earnings per share. Exelixis’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts expect that Exelixis, Inc. will post 1.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $34.00 price target on shares of Exelixis in a research report on Wednesday, October 30th. Bank of America raised their target price on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Morgan Stanley boosted their price target on shares of Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Stephens upped their price target on shares of Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus lifted their price objective on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.44.

Insider Transactions at Exelixis

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares in the company, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 1,162 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the transaction, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 339,736 shares of company stock worth $11,508,610. 2.85% of the stock is owned by insiders.

Exelixis Company 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.