Kovitz Investment Group Partners LLC Takes Position in Exelixis, Inc. (NASDAQ:EXEL)

Kovitz Investment Group Partners LLC acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 17,739 shares of the biotechnology company's stock, valued at approximately $421,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in shares of Exelixis in the third quarter valued at approximately $30,000. Brooklyn Investment Group acquired a new stake in Exelixis in the third quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new position in Exelixis during the 3rd quarter valued at $61,000. Essex Investment Management Co. LLC acquired a new position in shares of Exelixis during the 3rd quarter valued at $74,000. Finally, GAMMA Investing LLC raised its stake in shares of Exelixis by 50.0% in the 3rd quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company's stock worth $78,000 after buying an additional 1,004 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis Price Performance

Shares of NASDAQ EXEL traded down $0.25 during trading hours on Friday, reaching $34.93. The stock had a trading volume of 777,412 shares, compared to its average volume of 2,048,983. The company has a market cap of $9.98 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 0.89 and a beta of 0.52. Exelixis, Inc. has a twelve month low of $19.20 and a twelve month high of $36.97. The business's fifty day moving average is $32.49 and its two-hundred day moving average is $26.99.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS 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 company had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same period last year, the firm earned $0.10 EPS. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. Sell-side analysts forecast that Exelixis, Inc. will post 1.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EXEL shares. Piper Sandler raised their price objective on shares of Exelixis from $33.00 to $36.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Stifel Nicolaus raised their target price on shares of Exelixis from $26.00 to $30.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. Stephens boosted their price target on shares of Exelixis from $23.00 to $29.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. TD Cowen lifted their price target on Exelixis from $27.00 to $34.00 and gave the company a "buy" rating in a report on Monday, October 21st. Finally, BMO Capital Markets raised their price objective on shares of Exelixis from $29.00 to $36.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $31.44.

Insider Activity at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $26.38, for a total value of $659,500.00. Following the completion of the transaction, the executive vice president now owns 605,325 shares in the company, valued at approximately $15,968,473.50. The trade was a 3.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dana Aftab sold 1,162 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the sale, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 339,736 shares of company stock valued at $11,508,610 in the last ninety days. Insiders own 2.85% of the company's stock.

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.