Jennison Associates LLC Purchases 815 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Jennison Associates LLC raised its position in Exelixis, Inc. (NASDAQ:EXEL) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 164,200 shares of the biotechnology company’s stock after purchasing an additional 815 shares during the period. Jennison Associates LLC owned approximately 0.05% of Exelixis worth $3,939,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC raised its stake in Exelixis by 1,043.9% during the 3rd quarter. Acadian Asset Management LLC now owns 1,957,848 shares of the biotechnology company’s stock worth $42,750,000 after buying an additional 1,786,687 shares during the period. abrdn plc bought a new position in shares of Exelixis during the 4th quarter valued at about $15,997,000. California Public Employees Retirement System grew its position in shares of Exelixis by 42.3% in the 3rd quarter. California Public Employees Retirement System now owns 1,771,128 shares of the biotechnology company’s stock valued at $38,699,000 after purchasing an additional 526,814 shares during the period. NewEdge Wealth LLC bought a new stake in Exelixis during the 3rd quarter worth approximately $10,238,000. Finally, Braun Stacey Associates Inc. acquired a new stake in Exelixis during the 4th quarter worth approximately $10,414,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Trading Up 0.7 %

NASDAQ EXEL opened at $23.70 on Friday. The firm has a market capitalization of $6.99 billion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 0.63 and a beta of 0.54. The firm’s fifty day moving average price is $22.80 and its two-hundred day moving average price is $22.18. Exelixis, Inc. has a 1 year low of $18.08 and a 1 year high of $24.34.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 6th. The biotechnology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. Exelixis had a return on equity of 8.57% and a net margin of 11.35%. The company had revenue of $479.65 million during the quarter, compared to the consensus estimate of $481.23 million. On average, research analysts anticipate that Exelixis, Inc. will post 1.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a report on Monday, March 18th. Stifel Nicolaus increased their target price on Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, February 2nd. William Blair restated an “outperform” rating on shares of Exelixis in a report on Friday, January 26th. Barclays cut Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a research report on Thursday, April 11th. Finally, JMP Securities reissued a “market outperform” rating and issued a $27.00 target price on shares of Exelixis in a research report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

Insider Buying and Selling

In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total value of $1,008,579.00. Following the transaction, the executive vice president now directly owns 384,866 shares of the company’s stock, valued at approximately $8,255,375.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Alan M. Garber sold 19,205 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the transaction, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick J. Haley sold 47,020 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the transaction, the executive vice president now owns 384,866 shares of the company’s stock, valued at $8,255,375.70. The disclosure for this sale can be found here. 2.90% of the stock is currently 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.