Intech Investment Management LLC Buys 75,489 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Intech Investment Management LLC grew its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 48.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 232,041 shares of the biotechnology company’s stock after purchasing an additional 75,489 shares during the quarter. Intech Investment Management LLC owned about 0.08% of Exelixis worth $6,021,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXEL. V Square Quantitative Management LLC bought a new position in Exelixis in the third quarter worth approximately $30,000. Park Place Capital Corp bought a new position in shares of Exelixis in the 2nd quarter worth $45,000. GAMMA Investing LLC grew its position in 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 purchasing an additional 1,041 shares during the period. EntryPoint Capital LLC increased its stake in Exelixis by 537.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 1,746 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Exelixis during the third quarter worth $61,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Jeffrey Hessekiel sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.79, for a total transaction of $515,800.00. Following the sale, the executive vice president now directly owns 630,325 shares in the company, valued at approximately $16,256,081.75. This represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dana Aftab sold 1,162 shares of Exelixis 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 transaction, the executive vice president now owns 498,945 shares of the company’s stock, valued at $15,666,873. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 289,736 shares of company stock worth $9,471,510 over the last quarter. 2.85% of the stock is currently owned by company insiders.

Exelixis Trading Up 2.2 %

Shares of NASDAQ EXEL opened at $35.61 on Friday. The stock has a fifty day simple moving average of $29.90 and a two-hundred day simple moving average of $25.57. Exelixis, Inc. has a 1-year low of $19.20 and a 1-year high of $36.60. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 0.87 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. Analysts forecast that Exelixis, Inc. will post 1.68 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. Guggenheim upped their price target on Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research note on Wednesday, September 18th. Finally, BMO Capital Markets lifted their price objective on shares of Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.44.

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.