KLP Kapitalforvaltning AS Takes Position in Exelixis, Inc. (NASDAQ:EXEL)

KLP Kapitalforvaltning AS bought a new position in Exelixis, Inc. (NASDAQ:EXEL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 114,200 shares of the biotechnology company’s stock, valued at approximately $3,803,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EXEL. Natixis Advisors LLC increased its position in shares of Exelixis by 26.2% during the 3rd quarter. Natixis Advisors LLC now owns 29,113 shares of the biotechnology company’s stock valued at $755,000 after purchasing an additional 6,051 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Exelixis by 3.2% in the third quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock worth $515,000 after buying an additional 609 shares in the last quarter. Cerity Partners LLC grew its position in Exelixis by 129.1% during the third quarter. Cerity Partners LLC now owns 27,994 shares of the biotechnology company’s stock valued at $726,000 after acquiring an additional 15,777 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Exelixis in the 3rd quarter worth approximately $591,000. Finally, Hancock Whitney Corp grew its holdings in shares of Exelixis by 11.5% during the 3rd quarter. Hancock Whitney Corp now owns 47,733 shares of the biotechnology company’s stock valued at $1,239,000 after purchasing an additional 4,915 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Patrick J. Haley sold 52,636 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $36.98, for a total value of $1,946,479.28. Following the sale, the executive vice president now directly owns 303,310 shares of the company’s stock, valued at $11,216,403.80. The trade was a 14.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $34.88, for a total value of $425,884.80. Following the transaction, the director now directly owns 30,406 shares of the company’s stock, valued at approximately $1,060,561.28. This trade represents a 28.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock valued at $5,177,234 over the last quarter. Corporate insiders own 2.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on EXEL shares. BMO Capital Markets downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. Truist Financial increased their target price on Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 27th. Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $35.00 to $39.00 in a research note on Tuesday, December 17th. Stifel Nicolaus increased their price objective on Exelixis from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $29.00 target price on shares of Exelixis in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Exelixis has an average rating of “Moderate Buy” and a consensus price target of $37.59.

Exelixis Stock Down 1.9 %

EXEL opened at $37.01 on Thursday. Exelixis, Inc. has a 52 week low of $20.14 and a 52 week high of $40.02. The stock has a market cap of $10.36 billion, a PE ratio of 20.91, a PEG ratio of 1.13 and a beta of 0.57. The business has a 50 day moving average of $35.69 and a 200-day moving average of $33.12.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. Equities analysts anticipate that Exelixis, Inc. will post 2.04 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.