Van ECK Associates Corp Buys New Position in Exelixis, Inc. (NASDAQ:EXEL)

Van ECK Associates Corp purchased a new position in Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 104,450 shares of the biotechnology company’s stock, valued at approximately $2,347,000.

A number of other large investors have also modified their holdings of the business. Fisher Asset Management LLC raised its position in shares of Exelixis by 232.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 728 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Exelixis in the first quarter worth $28,000. Park Place Capital Corp purchased a new stake in shares of Exelixis during the second quarter valued at $45,000. GAMMA Investing LLC increased its position in shares of Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 1,041 shares during the period. Finally, USA Financial Formulas raised its stake in Exelixis by 1,548.0% in the 4th quarter. USA Financial Formulas now owns 2,060 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 1,935 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling at Exelixis

In related news, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $13,024,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 520,990 shares in the company, valued at approximately $13,024,750. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 20,000 shares of Exelixis stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $25.79, for a total value of $515,800.00. Following the transaction, the executive vice president now owns 630,325 shares in the company, valued at approximately $16,256,081.75. The disclosure for this sale can be found here. Insiders sold 302,858 shares of company stock valued at $7,980,629 over the last quarter. 2.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EXEL shares. 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 note on Thursday, August 8th. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. Oppenheimer restated an “outperform” rating and set a $29.00 price objective on shares of Exelixis in a research note on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research note on Wednesday, August 7th. Finally, JMP Securities upped their price target on shares of Exelixis from $27.00 to $29.00 and gave the company a “market outperform” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Exelixis has an average rating of “Moderate Buy” and an average price target of $27.43.

Exelixis Trading Down 1.6 %

Shares of EXEL stock opened at $25.15 on Friday. Exelixis, Inc. has a 12-month low of $18.64 and a 12-month high of $27.53. The business’s 50 day moving average is $24.31 and its two-hundred day moving average is $22.99. The company has a market capitalization of $7.63 billion, a P/E ratio of 39.30, a P/E/G ratio of 0.50 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The company had revenue of $637.18 million during the quarter, compared to analyst estimates of $468.21 million. On average, research analysts predict that Exelixis, Inc. will post 1.54 earnings per share for the current fiscal year.

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.