Intech Investment Management LLC Raises Stake in Exelixis, Inc. (NASDAQ:EXEL)

Intech Investment Management LLC boosted its stake in Exelixis, Inc. (NASDAQ:EXEL) by 15.4% in the 4th quarter, Holdings Channel reports. The firm owned 267,725 shares of the biotechnology company’s stock after acquiring an additional 35,684 shares during the quarter. Intech Investment Management LLC’s holdings in Exelixis were worth $8,915,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in Exelixis by 16.6% during the third quarter. Victory Capital Management Inc. now owns 136,178 shares of the biotechnology company’s stock valued at $3,534,000 after acquiring an additional 19,372 shares in the last quarter. CIBC Asset Management Inc bought a new position in Exelixis in the 3rd quarter valued at $227,000. Natixis Advisors LLC grew its position in shares of Exelixis by 26.2% during the 3rd quarter. Natixis Advisors LLC now owns 29,113 shares of the biotechnology company’s stock valued at $755,000 after purchasing an additional 6,051 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Exelixis in the third quarter worth $1,972,000. Finally, Advisors Asset Management Inc. raised its position in shares of Exelixis by 3.2% in the third quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock worth $515,000 after buying an additional 609 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the sale, the executive vice president now directly owns 341,028 shares in the company, valued at approximately $13,231,886.40. This trade represents a 2.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bob Oliver sold 18,647 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $37.25, for a total value of $694,600.75. Following the transaction, the director now directly owns 33,514 shares in the company, valued at $1,248,396.50. This trade represents a 35.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock valued at $5,177,234 over the last ninety days. 2.85% of the stock is owned by insiders.

Exelixis Stock Performance

Shares of Exelixis stock opened at $36.36 on Wednesday. Exelixis, Inc. has a 52-week low of $20.14 and a 52-week high of $40.02. The company’s 50 day moving average price is $35.48 and its 200-day moving average price is $32.68. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. As a group, equities research analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EXEL has been the topic of a number of research analyst reports. Morgan Stanley upgraded Exelixis from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $30.00 to $40.00 in a research note on Monday, January 27th. Bank of America downgraded shares of Exelixis from a “buy” rating to a “neutral” rating and raised their target price for the company from $35.00 to $39.00 in a research note on Tuesday, December 17th. Barclays boosted their price target on shares of Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Wells Fargo & Company cut shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective on the stock. in a research report on Monday, February 24th. Finally, Brookline Capital Management started coverage on shares of Exelixis in a research report on Monday, December 23rd. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Exelixis has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

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.