Riverwater Partners LLC Makes New $1.91 Million Investment in Exelixis, Inc. (NASDAQ:EXEL)

Riverwater Partners LLC bought a new position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 57,444 shares of the biotechnology company's stock, valued at approximately $1,913,000. Exelixis accounts for approximately 0.9% of Riverwater Partners LLC's holdings, making the stock its 26th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tri Ri Asset Management Corp acquired a new position in Exelixis during the 3rd quarter valued at $4,396,000. Blue Trust Inc. boosted its position in Exelixis by 134.7% in the 4th quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company's stock valued at $476,000 after buying an additional 8,208 shares during the last quarter. Range Financial Group LLC bought a new stake in shares of Exelixis during the fourth quarter worth approximately $994,000. FMR LLC boosted its holdings in 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 buying an additional 140,568 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company's stock worth $52,884,000 after acquiring an additional 704,786 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EXEL. StockNews.com raised shares of Exelixis from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 19th. Barclays lifted their target price on Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a research report on Thursday, February 13th. Royal Bank of Canada upped their price target on shares of Exelixis from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, March 13th. BMO Capital Markets lowered Exelixis from an "outperform" rating to a "market perform" rating and increased their price target for the company from $36.00 to $40.00 in a research report on Friday, December 20th. Finally, Stifel Nicolaus upped their target price on Exelixis from $30.00 to $36.00 and gave the company a "hold" rating in a report on Wednesday, February 12th. One investment 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, the company has an average rating of "Moderate Buy" and a consensus target price of $37.59.

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Insider Transactions at Exelixis

In related news, EVP Patrick J. Haley sold 52,636 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.98, for a total value of $1,946,479.28. Following the transaction, the executive vice president now directly owns 303,310 shares of the company's stock, valued at $11,216,403.80. This trade represents a 14.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bob Oliver sold 18,647 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $37.25, for a total value of $694,600.75. Following the transaction, the director now directly owns 33,514 shares in the company, valued at approximately $1,248,396.50. The trade was a 35.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 140,343 shares of company stock valued at $5,177,234. Insiders own 2.85% of the company's stock.

Exelixis Price Performance

Exelixis stock traded down $1.22 during trading on Thursday, reaching $34.12. 1,013,436 shares of the company were exchanged, compared to its average volume of 2,692,885. Exelixis, Inc. has a 52-week low of $20.14 and a 52-week high of $40.02. The company has a market capitalization of $9.55 billion, a P/E ratio of 19.28, a PEG ratio of 1.13 and a beta of 0.57. The stock's 50 day simple moving average is $36.09 and its two-hundred day simple moving average is $33.83.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings data 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%. As a group, equities analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current 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.