CWA Asset Management Group LLC Invests $577,000 in Exelixis, Inc. (NASDAQ:EXEL)

CWA Asset Management Group LLC acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,222 shares of the biotechnology company's stock, valued at approximately $577,000.

Other institutional investors have also recently made changes to their positions in the company. LSV Asset Management boosted its stake in Exelixis by 107.7% in the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company's stock valued at $129,511,000 after acquiring an additional 2,989,021 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of Exelixis by 148.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company's stock worth $53,817,000 after acquiring an additional 1,354,062 shares during the period. Swedbank AB purchased a new position in shares of Exelixis during the 1st quarter worth about $22,455,000. Farallon Capital Management LLC lifted its holdings in Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company's stock worth $608,993,000 after buying an additional 424,000 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Exelixis by 12.7% in the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company's stock valued at $73,425,000 after acquiring an additional 370,199 shares during the period. Hedge funds and other institutional investors own 85.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on EXEL shares. TD Cowen boosted their target price on shares of Exelixis from $27.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Truist Financial raised their price target on shares of Exelixis from $33.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. BMO Capital Markets lifted their target price on Exelixis from $29.00 to $36.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of Exelixis from $32.00 to $36.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $34.00 price target on shares of Exelixis in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.44.

Exelixis Trading Down 0.9 %

Shares of EXEL stock traded down $0.34 during mid-day trading on Tuesday, reaching $35.85. The stock had a trading volume of 1,666,840 shares, compared to its average volume of 2,074,738. The stock's 50-day moving average price is $28.28 and its two-hundred day moving average price is $24.83. Exelixis, Inc. has a 52-week low of $19.20 and a 52-week high of $36.60. The firm has a market capitalization of $10.24 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 0.92 and a beta of 0.51.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.04. The business had revenue of $539.50 million during the quarter, compared to analysts' expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm's revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. On average, equities research analysts forecast that Exelixis, Inc. will post 1.68 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Jeffrey Hessekiel sold 20,000 shares of Exelixis stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.79, for a total value of $515,800.00. Following the sale, the executive vice president now owns 630,325 shares in the company, valued at $16,256,081.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Exelixis news, EVP Jeffrey Hessekiel sold 20,000 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.79, for a total transaction of $515,800.00. Following the completion of the transaction, the executive vice president now owns 630,325 shares in the company, valued at approximately $16,256,081.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 96,986 shares of Exelixis stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the sale, the executive vice president now owns 498,945 shares of the company's stock, valued at approximately $17,463,075. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 256,398 shares of company stock worth $8,261,667. 2.85% of the stock is owned by corporate insiders.

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.