Edgestream Partners L.P. Boosts Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Edgestream Partners L.P. boosted its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 50.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,293 shares of the biotechnology company’s stock after purchasing an additional 37,085 shares during the period. Edgestream Partners L.P.’s holdings in Exelixis were worth $3,673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXEL. Los Angeles Capital Management LLC lifted its position in Exelixis by 124.0% during 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 period. Allspring Global Investments Holdings LLC lifted its position in Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock valued at $52,884,000 after purchasing an additional 704,786 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new position in Exelixis during the third quarter valued at approximately $14,979,000. Raymond James Financial Inc. bought a new position in Exelixis during the fourth quarter valued at approximately $17,046,000. Finally, Burney Co. bought a new position in Exelixis during the fourth quarter valued at approximately $12,267,000. Institutional investors own 85.27% of the company’s stock.

Insider Activity at Exelixis

In related news, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $38.80, for a total transaction of $388,000.00. Following the completion of the transaction, the executive vice president now directly owns 341,028 shares of the company’s stock, valued at approximately $13,231,886.40. This trade represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Senner sold 29,314 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the transaction, the chief financial officer now directly owns 779,607 shares of the company’s stock, valued at $28,174,996.98. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,343 shares of company stock valued at $5,177,234. Corporate insiders own 2.85% of the company’s stock.

Analysts Set New Price Targets

EXEL has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and set a $41.00 price objective on shares of Exelixis in a research report on Thursday, January 23rd. Oppenheimer downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $41.00 to $33.00 in a research report on Friday, January 24th. Bank of America downgraded shares of Exelixis from a “buy” rating to a “neutral” rating and increased their price target for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. UBS Group increased their price target on shares of Exelixis from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Brookline Capital Management assumed coverage on shares of Exelixis in a research report on Monday, December 23rd. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and a consensus target price of $37.24.

Exelixis Stock Performance

EXEL opened at $38.58 on Friday. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 1.13 and a beta of 0.57. The company has a fifty day moving average of $34.99 and a 200 day moving average of $32.08. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $39.30.

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

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.