Intech Investment Management LLC grew its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 267,725 shares of the biotechnology company's stock after buying an additional 35,684 shares during the quarter. Intech Investment Management LLC owned 0.09% of Exelixis worth $8,915,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. Tri Ri Asset Management Corp acquired a new stake in shares of Exelixis during the 3rd quarter worth about $4,396,000. Blue Trust Inc. grew its stake in Exelixis by 134.7% in the 4th quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company's stock worth $476,000 after acquiring an additional 8,208 shares during the period. Navellier & Associates Inc. acquired a new position in Exelixis in the 3rd quarter valued at $573,000. Range Financial Group LLC acquired a new position in Exelixis in the 4th quarter valued at $994,000. Finally, FMR LLC boosted its holdings in shares of Exelixis by 6.1% during the third quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company's stock worth $63,891,000 after purchasing an additional 140,568 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.
Wall Street Analyst Weigh In
EXEL has been the topic of several recent analyst reports. Citigroup increased their target price on Exelixis from $38.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Brookline Capital Management initiated coverage on shares of Exelixis in a report on Monday, December 23rd. They set a "buy" rating on the stock. Barclays boosted their target price on shares of Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. Guggenheim reaffirmed a "buy" rating and set a $42.00 price target on shares of Exelixis in a research note on Wednesday, February 12th. Finally, Bank of America downgraded 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. One equities 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.59.
Check Out Our Latest Analysis on EXEL
Exelixis Stock Performance
Shares of EXEL stock traded down $0.22 during trading hours on Friday, hitting $36.96. 7,318,911 shares of the company were exchanged, compared to its average volume of 2,088,130. Exelixis, Inc. has a one year low of $20.14 and a one year high of $40.02. The business's 50-day simple moving average is $35.61 and its two-hundred day simple moving average is $32.86. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 20.88, a P/E/G ratio of 1.13 and a beta of 0.57.
Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results 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%. As a group, analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director Mary C. Beckerle sold 12,210 shares of Exelixis stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $34.88, for a total transaction of $425,884.80. Following the sale, the director now owns 30,406 shares of the company's stock, valued at approximately $1,060,561.28. The trade was a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the business's stock in a transaction on 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 owns 341,028 shares of the company's stock, valued at $13,231,886.40. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock valued at $5,177,234 over the last quarter. Insiders own 2.85% of the company's stock.
About Exelixis
(
Free Report)
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.
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