Envestnet Asset Management Inc. Buys 29,892 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Envestnet Asset Management Inc. raised its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,228 shares of the biotechnology company's stock after acquiring an additional 29,892 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of Exelixis worth $6,668,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Tri Ri Asset Management Corp bought a new position in Exelixis in the 3rd quarter worth about $4,396,000. Blue Trust Inc. lifted its stake in shares of Exelixis by 134.7% in the fourth quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company's stock worth $476,000 after buying an additional 8,208 shares in the last quarter. Range Financial Group LLC purchased a new stake in shares of Exelixis during the fourth quarter valued at approximately $994,000. Allspring Global Investments Holdings LLC increased its position in shares of Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company's stock valued at $52,884,000 after acquiring an additional 704,786 shares in the last quarter. Finally, Inspire Investing LLC raised its holdings in Exelixis by 25.0% in the 4th quarter. Inspire Investing LLC now owns 36,659 shares of the biotechnology company's stock worth $1,221,000 after acquiring an additional 7,331 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Down 0.2 %

EXEL traded down $0.07 during midday trading on Friday, reaching $37.14. The company had a trading volume of 302,789 shares, compared to its average volume of 2,171,364. Exelixis, Inc. has a 1 year low of $20.14 and a 1 year high of $40.02. The company has a market cap of $10.24 billion, a P/E ratio of 20.97, a P/E/G ratio of 1.13 and a beta of 0.57. The business has a 50-day moving average of $36.61 and a two-hundred day moving average of $34.52.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share 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%. On average, equities research analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Activity at Exelixis

In other news, EVP Patrick J. Haley sold 10,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the transaction, the executive vice president now directly owns 341,028 shares in the company, valued at $13,231,886.40. The trade was a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher J. Senner sold 29,314 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $36.14, for a total value of $1,059,407.96. Following the sale, the chief financial officer now owns 779,607 shares of the company's stock, valued at $28,174,996.98. This represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,343 shares of company stock worth $5,177,234. 2.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on EXEL shares. Guggenheim reiterated a "buy" rating and set a $42.00 target price on shares of Exelixis in a research note on Wednesday, February 12th. Royal Bank of Canada increased their price objective on Exelixis from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, March 13th. JMP Securities reiterated a "market outperform" rating and issued a $41.00 price objective on shares of Exelixis in a report on Thursday, April 17th. HC Wainwright restated a "buy" rating and set a $40.00 target price on shares of Exelixis in a research note on Thursday, March 27th. Finally, Truist Financial lifted their price target on shares of Exelixis from $42.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.59.

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.