MML Investors Services LLC Purchases 2,077 Shares of Exelixis, Inc. (NASDAQ:EXEL)

MML Investors Services LLC grew its position in Exelixis, Inc. (NASDAQ:EXEL) by 9.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,958 shares of the biotechnology company’s stock after acquiring an additional 2,077 shares during the quarter. MML Investors Services LLC’s holdings in Exelixis were worth $596,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Exelixis during the 3rd quarter valued at about $30,000. Brooklyn Investment Group acquired a new position in Exelixis in the third quarter worth about $42,000. Capital Performance Advisors LLP bought a new position in Exelixis during the third quarter worth about $61,000. Essex Investment Management Co. LLC acquired a new stake in Exelixis during the third quarter valued at approximately $74,000. Finally, GAMMA Investing LLC boosted its holdings in Exelixis by 50.0% during the third quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 1,004 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Stock Down 1.2 %

Shares of EXEL opened at $33.29 on Monday. The firm has a market capitalization of $9.51 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. Exelixis, Inc. has a 12-month low of $19.20 and a 12-month high of $36.97. The stock’s fifty day simple moving average is $33.51 and its 200-day simple moving average is $27.59.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on EXEL shares. Wells Fargo & Company raised their target price on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Truist Financial lifted their price objective on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus upped their target price on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Guggenheim lifted their price target on shares of Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets cut shares of Exelixis from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $36.00 to $40.00 in a research note on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Exelixis has an average rating of “Moderate Buy” and an average price target of $32.44.

Insider Transactions at Exelixis

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares of the company’s stock, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dana Aftab sold 1,162 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at $15,666,873. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 314,736 shares of company stock worth $10,849,110. 2.85% of the stock is currently owned by company insiders.

Exelixis 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.