Tri Ri Asset Management Corp Buys New Stake in Exelixis, Inc. (NASDAQ:EXEL)

Tri Ri Asset Management Corp acquired a new position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 167,069 shares of the biotechnology company's stock, valued at approximately $4,396,000. Exelixis makes up about 2.2% of Tri Ri Asset Management Corp's investment portfolio, making the stock its 17th largest holding. Tri Ri Asset Management Corp owned about 0.06% of Exelixis at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in shares of Exelixis by 5.7% during the third quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company's stock worth $164,000 after purchasing an additional 341 shares in the last quarter. Resonant Capital Advisors LLC grew its holdings in Exelixis by 3.6% in the 2nd quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company's stock valued at $309,000 after buying an additional 477 shares in the last quarter. Cornercap Investment Counsel Inc. increased its stake in shares of Exelixis by 1.1% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company's stock worth $1,135,000 after acquiring an additional 539 shares during the last quarter. Creative Planning increased its position in Exelixis by 0.8% during the second quarter. Creative Planning now owns 71,700 shares of the biotechnology company's stock worth $1,611,000 after purchasing an additional 548 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Exelixis by 3.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company's stock valued at $515,000 after buying an additional 609 shares during the period. Hedge funds and other institutional investors own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EXEL shares. HC Wainwright restated a "buy" rating and issued a $29.00 price objective on shares of Exelixis in a report on Wednesday, September 18th. Wells Fargo & Company increased their price objective on Exelixis from $32.00 to $36.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. JMP Securities reiterated a "market outperform" rating and issued a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th. Morgan Stanley boosted their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Friday, October 11th. Finally, Bank of America upped their price target on Exelixis from $30.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.44.

Exelixis Stock Performance

Exelixis stock traded down $0.15 during midday trading on Friday, reaching $35.03. The company's stock had a trading volume of 1,495,507 shares, compared to its average volume of 2,052,101. Exelixis, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $36.97. The firm has a market capitalization of $10.00 billion, a PE ratio of 22.55, a P/E/G ratio of 0.89 and a beta of 0.52. The stock's 50 day simple moving average is $32.49 and its 200 day simple moving average is $26.99.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. Exelixis's revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. Equities analysts predict that Exelixis, Inc. will post 1.69 earnings per share for the current year.

Insider Activity at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares of the company's stock, valued at $17,823,783.53. This represents a 10.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Patrick J. Haley sold 10,000 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the sale, the executive vice president now directly owns 278,665 shares in the company, valued at approximately $9,828,514.55. The trade was a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 339,736 shares of company stock valued at $11,508,610. 2.85% of the stock is owned by corporate insiders.

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.