Smith Group Asset Management LLC Invests $305,000 in Exelixis, Inc. (NASDAQ:EXEL)

Smith Group Asset Management LLC purchased a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 9,150 shares of the biotechnology company's stock, valued at approximately $305,000.

A number of other large investors 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 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company's stock valued at $46,473,000 after acquiring an additional 991,494 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Exelixis during the 3rd quarter valued at about $14,979,000. Burney Co. bought a new stake in shares of Exelixis during the 4th quarter valued at about $12,267,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Exelixis by 263.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 483,064 shares of the biotechnology company's stock valued at $12,536,000 after acquiring an additional 350,026 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of Exelixis by 24.6% during the 3rd quarter. Retirement Systems of Alabama now owns 911,497 shares of the biotechnology company's stock valued at $23,653,000 after acquiring an additional 180,021 shares during the last quarter. Institutional investors own 85.27% of the company's stock.

Insider Activity at Exelixis

In other news, EVP Dana Aftab sold 96,986 shares of the company's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total value of $3,394,510.00. Following the completion of the transaction, the executive vice president now owns 498,945 shares of the company's stock, valued at $17,463,075. This represents a 16.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the company's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now directly owns 486,059 shares of the company's stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 288,574 shares of company stock worth $10,102,874. 2.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on EXEL shares. Truist Financial lifted their price target on Exelixis from $42.00 to $43.00 and gave the company a "buy" rating in a research report on Monday. Stephens reissued an "equal weight" rating and set a $29.00 price objective on shares of Exelixis in a report on Monday. JMP Securities reissued a "market outperform" rating and set a $41.00 price objective on shares of Exelixis in a report on Thursday, January 23rd. Wells Fargo & Company raised their price objective on Exelixis from $32.00 to $36.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Finally, Piper Sandler raised their price objective on Exelixis from $36.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $36.06.

Exelixis Stock Performance

Shares of EXEL stock traded up $0.01 during mid-day trading on Thursday, hitting $32.97. The company's stock had a trading volume of 359,736 shares, compared to its average volume of 2,646,082. Exelixis, Inc. has a 52-week low of $20.01 and a 52-week high of $37.59. The business has a 50-day moving average price of $34.77 and a 200 day moving average price of $29.99. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 0.72 and a beta of 0.53.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million during the quarter, compared to analysts' expectations of $490.31 million. During the same quarter in the previous year, the business earned $0.10 earnings per share. The company's revenue was up 14.3% on a year-over-year basis. Equities research analysts predict that Exelixis, Inc. will post 1.74 EPS for the current fiscal year.

About Exelixis

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.