Tri Ri Asset Management Corp Buys Shares of 167,069 Exelixis, Inc. (NASDAQ:EXEL)

Tri Ri Asset Management Corp acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 167,069 shares of the biotechnology company’s stock, valued at approximately $4,396,000. Exelixis makes up 2.2% of Tri Ri Asset Management Corp’s portfolio, making the stock its 17th biggest position. Tri Ri Asset Management Corp owned approximately 0.06% of Exelixis at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of EXEL. Tidal Investments LLC raised its position in Exelixis by 2.3% during the 3rd quarter. Tidal Investments LLC now owns 36,366 shares of the biotechnology company’s stock worth $944,000 after purchasing an additional 823 shares during the last quarter. Sanctuary Advisors LLC increased its position in Exelixis by 42.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 39,261 shares of the biotechnology company’s stock valued at $1,019,000 after buying an additional 11,757 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Exelixis by 376.8% during the 3rd quarter. TD Private Client Wealth LLC now owns 9,756 shares of the biotechnology company’s stock valued at $253,000 after purchasing an additional 7,710 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Exelixis during the 3rd quarter valued at about $264,000. Finally, Coldstream Capital Management Inc. bought a new position in shares of Exelixis in the third quarter valued at approximately $238,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EXEL shares. Morgan Stanley upped their target price on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Bank of America increased their price objective on Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. TD Cowen increased their price objective on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, UBS Group assumed coverage on Exelixis in a report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.44.

Insider Buying and Selling at Exelixis

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $28.39, for a total transaction of $709,750.00. Following the completion of the sale, the executive vice president now owns 580,325 shares of the company’s stock, valued at approximately $16,475,426.75. This represents a 4.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 41,588 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.36, for a total value of $1,428,963.68. Following the sale, the executive vice president now directly owns 288,665 shares of the company’s stock, valued at approximately $9,918,529.40. This trade represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 339,736 shares of company stock worth $11,508,610 over the last 90 days. Corporate insiders own 2.85% of the company’s stock.

Exelixis Stock Performance

Shares of EXEL stock opened at $35.18 on Friday. Exelixis, Inc. has a 52-week low of $19.20 and a 52-week high of $36.97. The company has a market capitalization of $10.05 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. The business’s fifty day moving average is $32.49 and its 200 day moving average is $26.99.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts forecast that Exelixis, Inc. will post 1.69 EPS 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.