GAMMA Investing LLC Increases Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

GAMMA Investing LLC raised its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 37.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,129 shares of the biotechnology company’s stock after purchasing an additional 1,119 shares during the quarter. GAMMA Investing LLC’s holdings in Exelixis were worth $137,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Exelixis during the 3rd quarter valued at about $30,000. Brooklyn Investment Group purchased a new stake in Exelixis in the third quarter worth about $42,000. Capital Performance Advisors LLP bought a new stake in Exelixis during the 3rd quarter valued at approximately $61,000. Essex Investment Management Co. LLC purchased a new position in shares of Exelixis during the 3rd quarter worth approximately $74,000. Finally, Farther Finance Advisors LLC raised its position in shares of Exelixis by 467.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,940 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 3,246 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Exelixis Price Performance

Exelixis stock opened at $34.50 on Friday. Exelixis, Inc. has a one year low of $20.01 and a one year high of $36.97. The business’s fifty day moving average is $34.84 and its 200 day moving average is $28.71. The stock has a market capitalization of $9.85 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 0.88 and a beta of 0.52.

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

Analyst Ratings Changes

Several research firms recently weighed in on EXEL. Stephens lifted their price target on Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. UBS Group began coverage on shares of Exelixis in a research report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 target price on the stock. TD Cowen lifted their price target on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Brookline Capital Management began coverage on shares of Exelixis in a research note on Monday, December 23rd. They set a “buy” rating on the stock. Finally, Stifel Nicolaus raised their target price on shares of Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Insiders Place Their Bets

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at $17,823,783.53. This represents a 10.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the transaction, the executive vice president now owns 278,665 shares in the company, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 314,736 shares of company stock valued at $10,849,110. Company insiders own 2.85% of the company’s stock.

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.