Assetmark Inc. boosted its stake in shares of Exelixis, Inc. (NASDAQ:EXEL – Free Report) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,388,920 shares of the biotechnology company’s stock after purchasing an additional 58,149 shares during the period. Assetmark Inc.’s holdings in Exelixis were worth $145,351,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXEL. Wealth Enhancement Advisory Services LLC lifted its holdings in Exelixis by 62.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 187,154 shares of the biotechnology company’s stock valued at $8,224,000 after acquiring an additional 71,987 shares during the period. Stephens Investment Management Group LLC increased its position in shares of Exelixis by 1.1% during the 4th quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company’s stock valued at $111,303,000 after purchasing an additional 28,265 shares during the last quarter. Private Client Services LLC purchased a new stake in shares of Exelixis during the 4th quarter valued at about $1,992,000. Nisa Investment Advisors LLC increased its position in shares of Exelixis by 692.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 140,446 shares of the biotechnology company’s stock valued at $6,156,000 after purchasing an additional 122,720 shares during the last quarter. Finally, Strategic Investment Advisors MI lifted its stake in shares of Exelixis by 486.6% in the 3rd quarter. Strategic Investment Advisors MI now owns 33,343 shares of the biotechnology company’s stock worth $1,377,000 after purchasing an additional 27,659 shares during the period. Institutional investors own 85.27% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on EXEL shares. Citizens Jmp raised their price objective on shares of Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a report on Wednesday, June 24th. Barclays upped their target price on shares of Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday. Wall Street Zen upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Wells Fargo & Company lifted their price target on shares of Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Weiss Ratings raised shares of Exelixis from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, July 8th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $48.80.
Exelixis Trading Up 0.2%
NASDAQ EXEL opened at $55.68 on Friday. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $57.57. The stock has a market cap of $14.00 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 1.60 and a beta of 0.42. The company’s 50 day moving average is $52.49 and its two-hundred day moving average is $46.73.
Exelixis (NASDAQ:EXEL – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. The business had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. Sell-side analysts forecast that Exelixis, Inc. will post 3.16 EPS for the current year.
Insider Activity at Exelixis
In other Exelixis news, Director Maria C. Freire sold 20,634 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $46.00, for a total value of $949,164.00. Following the completion of the sale, the director owned 100,819 shares in the company, valued at approximately $4,637,674. This represents a 16.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dana Aftab sold 43,451 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total value of $2,187,757.85. Following the sale, the executive vice president directly owned 594,741 shares in the company, valued at approximately $29,945,209.35. This represents a 6.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 219,170 shares of company stock worth $10,620,641 in the last 90 days. Company insiders own 2.60% of the company’s stock.
Exelixis Profile
Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.
The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.
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