LGT Fund Management Co Ltd. Buys New Holdings in Exelixis, Inc. (NASDAQ:EXEL)

LGT Fund Management Co Ltd. bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 75,834 shares of the biotechnology company’s stock, valued at approximately $2,525,000.

Several other hedge funds have also recently added to or reduced their stakes in EXEL. Seizert Capital Partners LLC increased its stake in Exelixis by 8.0% in the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock valued at $12,195,000 after purchasing an additional 34,875 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Exelixis by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after purchasing an additional 991,494 shares during the last quarter. Tri Ri Asset Management Corp purchased a new position in Exelixis in the third quarter valued at approximately $4,396,000. CWA Asset Management Group LLC purchased a new position in Exelixis in the third quarter valued at approximately $577,000. Finally, Blue Trust Inc. increased its stake in Exelixis by 134.7% in the fourth quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company’s stock valued at $476,000 after purchasing an additional 8,208 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Stephens reiterated an “equal weight” rating and issued a $29.00 price target on shares of Exelixis in a research note on Wednesday, February 12th. Morgan Stanley upgraded shares of Exelixis from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $30.00 to $40.00 in a research note on Monday, January 27th. Truist Financial raised their target price on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company lowered shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 target price on the stock. in a research report on Monday, February 24th. Finally, JMP Securities restated a “market outperform” rating and set a $41.00 target price on shares of Exelixis in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.24.

Exelixis Price Performance

NASDAQ:EXEL opened at $38.69 on Monday. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $38.84. The firm’s fifty day moving average price is $34.53 and its 200 day moving average price is $31.70. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 1.13 and a beta of 0.53.

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

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Jack L. Wyszomierski sold 8,768 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $37.80, for a total value of $331,430.40. Following the completion of the sale, the director now owns 356,605 shares of the company’s stock, valued at approximately $13,479,669. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bob Oliver sold 18,647 shares of Exelixis stock in a transaction on Tuesday, February 25th. The stock was 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 of the company’s stock, valued at $1,248,396.50. This trade represents a 35.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,343 shares of company stock valued at $4,789,234. 2.85% of the stock is 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.