Erste Asset Management GmbH Purchases New Position in Exelixis, Inc. (NASDAQ:EXEL)

Erste Asset Management GmbH acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 74,500 shares of the biotechnology company's stock, valued at approximately $1,934,000.

A number of other institutional investors have also recently added to or reduced their stakes in EXEL. Tidal Investments LLC raised its stake in Exelixis by 10.0% during the 1st quarter. Tidal Investments LLC now owns 9,710 shares of the biotechnology company's stock valued at $230,000 after acquiring an additional 886 shares in the last quarter. Cetera Advisors LLC bought a new stake in Exelixis during the 1st quarter valued at $327,000. GAMMA Investing LLC raised its stake in Exelixis by 107.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company's stock valued at $45,000 after acquiring an additional 1,041 shares in the last quarter. CWM LLC raised its stake in Exelixis by 27.4% during the 2nd quarter. CWM LLC now owns 19,988 shares of the biotechnology company's stock valued at $449,000 after acquiring an additional 4,301 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Exelixis during the 2nd quarter valued at $489,000. 85.27% of the stock is currently owned by institutional investors.

Exelixis Stock Performance

Shares of Exelixis stock traded up $0.51 on Wednesday, reaching $35.77. The stock had a trading volume of 1,662,475 shares, compared to its average volume of 2,068,694. The business's 50-day moving average price is $31.18 and its two-hundred day moving average price is $26.35. Exelixis, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $36.97. The stock has a market cap of $10.22 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 0.90 and a beta of 0.52.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million during the quarter, compared to analysts' expectations of $490.31 million. During the same period in the previous year, the company earned $0.10 earnings per share. Exelixis's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts forecast that Exelixis, Inc. will post 1.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial increased their price target on Exelixis from $33.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Guggenheim increased their price target on Exelixis from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $34.00 price target on shares of Exelixis in a research note on Wednesday, October 30th. UBS Group assumed coverage on Exelixis in a research note on Thursday, September 19th. They set a "neutral" rating and a $30.00 price target for the company. Finally, Bank of America upped their price target on Exelixis from $30.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.44.

Insider Transactions at Exelixis

In related news, Director George Poste sold 30,000 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the transaction, the director now directly owns 169,020 shares in the company, valued at approximately $5,746,680. This represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dana Aftab sold 1,162 shares of the company's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the transaction, the executive vice president now owns 498,945 shares of the company's stock, valued at $15,666,873. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 339,736 shares of company stock worth $11,508,610. Insiders own 2.85% of the company's stock.

About Exelixis

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.