Inceptionr LLC Invests $814,000 in Exelixis, Inc. (NASDAQ:EXEL)

Inceptionr LLC acquired a new position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,437 shares of the biotechnology company's stock, valued at approximately $814,000.

Several other institutional investors and hedge funds have also recently modified their holdings of EXEL. Los Angeles Capital Management LLC boosted its position in shares of Exelixis by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company's stock valued at $46,473,000 after purchasing an additional 991,494 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Exelixis by 82.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company's stock valued at $52,884,000 after buying an additional 704,786 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Exelixis in the 3rd quarter worth about $14,979,000. Raymond James Financial Inc. bought a new position in shares of Exelixis in the 4th quarter worth about $17,046,000. Finally, Burney Co. purchased a new position in Exelixis during the 4th quarter valued at about $12,267,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EXEL. Bank of America cut shares of Exelixis from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $35.00 to $39.00 in a report on Tuesday, December 17th. Piper Sandler lifted their price objective on Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Stifel Nicolaus increased their target price on Exelixis from $30.00 to $36.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. Citigroup lifted their price target on Exelixis from $38.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, UBS Group increased their price objective on shares of Exelixis from $30.00 to $34.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.24.

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Exelixis Trading Down 5.7 %

NASDAQ EXEL traded down $2.23 on Tuesday, reaching $36.93. 3,280,789 shares of the stock were exchanged, compared to its average volume of 2,085,575. The firm has a market capitalization of $10.34 billion, a PE ratio of 20.86, a PEG ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a one year low of $20.14 and a one year high of $40.02. The company's 50-day simple moving average is $35.10 and its two-hundred day simple moving average is $32.21.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. Sell-side analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In other Exelixis news, Director Mary C. Beckerle sold 12,210 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were 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. This trade represents a 28.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Patrick J. Haley sold 52,636 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the completion of the transaction, the executive vice president now directly owns 303,310 shares in the company, valued at $11,216,403.80. This trade represents a 14.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,343 shares of company stock valued at $5,177,234. 2.85% of the stock is owned by company insiders.

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.