Essex Investment Management Co. LLC Takes Position in Exelixis, Inc. (NASDAQ:EXEL)

Essex Investment Management Co. LLC purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the third quarter, according to its most recent filing with the SEC. The fund purchased 2,859 shares of the biotechnology company’s stock, valued at approximately $74,000.

Other institutional investors have also made changes to their positions in the company. LSV Asset Management grew its stake in Exelixis by 107.7% during the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after buying an additional 2,989,021 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in Exelixis by 948.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after buying an additional 2,220,150 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in Exelixis by 148.2% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock worth $53,817,000 after buying an additional 1,354,062 shares during the last quarter. Swedbank AB bought a new position in Exelixis during the 1st quarter worth $22,455,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Exelixis during the 1st quarter worth $10,906,000. 85.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on EXEL shares. StockNews.com upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. HC Wainwright reiterated a “buy” rating and set a $29.00 price target on shares of Exelixis in a research report on Wednesday, September 18th. Morgan Stanley boosted their price target on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday. Truist Financial reiterated a “buy” rating and set a $33.00 price target (up previously from $32.00) on shares of Exelixis in a research report on Thursday, August 8th. Finally, JMP Securities reiterated a “market outperform” rating and set a $29.00 price target on shares of Exelixis in a research report on Friday. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.15.

Insider Activity

In other news, EVP Dana Aftab sold 95,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at $13,024,750. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Christopher J. Senner sold 125,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the transaction, the chief financial officer now directly owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dana Aftab sold 95,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total value of $2,375,000.00. Following the transaction, the executive vice president now directly owns 520,990 shares in the company, valued at $13,024,750. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,858 shares of company stock valued at $8,640,129 over the last three months. Insiders own 2.85% of the company’s stock.

Exelixis Stock Up 2.0 %

Shares of Exelixis stock opened at $26.23 on Monday. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 40.98, a price-to-earnings-growth ratio of 0.54 and a beta of 0.54. The business has a fifty day simple moving average of $26.14 and a 200-day simple moving average of $23.67. Exelixis, Inc. has a fifty-two week low of $18.64 and a fifty-two week high of $27.83.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The business had revenue of $637.18 million during the quarter, compared to the consensus estimate of $468.21 million. Analysts anticipate that Exelixis, Inc. will post 1.59 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.