Applied Finance Capital Management LLC Purchases New Stake in Exelixis, Inc. (NASDAQ:EXEL)

Applied Finance Capital Management LLC purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,361 shares of the biotechnology company's stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. USA Financial Formulas acquired a new stake in shares of Exelixis during the fourth quarter valued at about $32,000. Principal Securities Inc. boosted its position in Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock worth $32,000 after buying an additional 373 shares during the period. Kestra Investment Management LLC bought a new stake in Exelixis during the 4th quarter worth approximately $39,000. UMB Bank n.a. increased its position in Exelixis by 68.4% in the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock valued at $45,000 after acquiring an additional 553 shares during the period. Finally, Crowley Wealth Management Inc. bought a new position in shares of Exelixis during the fourth quarter valued at $50,000. 85.27% of the stock is owned by institutional investors.

Exelixis Price Performance

Shares of NASDAQ:EXEL traded up $0.36 during midday trading on Monday, hitting $35.67. 467,613 shares of the company's stock were exchanged, compared to its average volume of 2,168,622. Exelixis, Inc. has a 12 month low of $20.14 and a 12 month high of $40.02. The company has a market cap of $9.98 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The stock has a 50 day moving average price of $36.16 and a 200-day moving average price of $34.01.

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Exelixis (NASDAQ:EXEL - Get Free Report) last issued 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 return on equity of 23.52% and a net margin of 24.04%. On average, analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In related news, CFO Christopher J. Senner sold 29,314 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the transaction, the chief financial officer now directly owns 779,607 shares of the company's stock, valued at $28,174,996.98. This trade represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary C. Beckerle sold 12,210 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $34.88, for a total transaction of $425,884.80. Following the completion of the sale, the director now directly owns 30,406 shares of the company's stock, valued at $1,060,561.28. The trade was a 28.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,343 shares of company stock worth $5,177,234. Corporate insiders own 2.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EXEL shares. Barclays increased their price objective on Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. BMO Capital Markets lowered Exelixis from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. Brookline Capital Management started coverage on shares of Exelixis in a research report on Monday, December 23rd. They set a "buy" rating for the company. Citigroup boosted their price target on shares of Exelixis from $38.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus increased their price objective on shares of Exelixis from $30.00 to $36.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Exelixis has a consensus rating of "Moderate Buy" and a consensus target price of $37.59.

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.