Resona Asset Management Co. Ltd. Makes New $1.56 Million Investment in Exelixis, Inc. (NASDAQ:EXEL)

Resona Asset Management Co. Ltd. bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 46,798 shares of the biotechnology company's stock, valued at approximately $1,558,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Exelixis by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 29,429,252 shares of the biotechnology company's stock worth $979,994,000 after purchasing an additional 121,750 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Exelixis by 104.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company's stock worth $105,208,000 after buying an additional 1,613,482 shares during the last quarter. Norges Bank acquired a new stake in Exelixis during the fourth quarter worth about $94,867,000. Los Angeles Capital Management LLC raised its position in Exelixis by 20.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 2,156,996 shares of the biotechnology company's stock valued at $71,828,000 after acquiring an additional 366,141 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Exelixis by 82.1% in 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 during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.80, for a total transaction of $388,000.00. Following the transaction, the executive vice president now directly owns 341,028 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 approximately $1,060,561.28. This trade represents a 28.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock worth $5,177,234 in the last quarter. Company insiders own 2.85% of the company's stock.

Analyst Upgrades and Downgrades

EXEL has been the subject of several recent research reports. Stephens reaffirmed an "equal weight" rating and set a $29.00 target price on shares of Exelixis in a report on Wednesday, February 12th. Morgan Stanley upgraded shares of Exelixis from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $30.00 to $40.00 in a research report on Monday, January 27th. Wells Fargo & Company lowered shares of Exelixis from an "overweight" rating to an "equal weight" rating and set a $36.00 target price on the stock. in a research note on Monday, February 24th. Guggenheim restated a "buy" rating and set a $42.00 target price on shares of Exelixis in a research report on Wednesday, February 12th. Finally, Oppenheimer downgraded Exelixis from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $41.00 to $33.00 in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Exelixis currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.59.

Exelixis Price Performance

EXEL traded up $0.41 on Tuesday, reaching $36.15. 646,764 shares of the company's stock were exchanged, compared to its average volume of 2,168,135. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $40.02. The stock has a market cap of $10.12 billion, a PE ratio of 20.40, a P/E/G ratio of 1.13 and a beta of 0.57. The stock's fifty day moving average price is $36.21 and its 200-day moving average price is $34.08.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its 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 return on equity of 23.52% and a net margin of 24.04%. As a group, research analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

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.