Exelixis, Inc. (NASDAQ:EXEL) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC increased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 2.3% in the third quarter, Holdings Channel reports. The firm owned 36,366 shares of the biotechnology company’s stock after buying an additional 823 shares during the period. Tidal Investments LLC’s holdings in Exelixis were worth $944,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXEL. Raymond James & Associates increased its position in shares of Exelixis by 1.2% during the second quarter. Raymond James & Associates now owns 109,856 shares of the biotechnology company’s stock valued at $2,468,000 after acquiring an additional 1,328 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in Exelixis in the second quarter valued at approximately $216,000. Retirement Systems of Alabama lifted its stake in Exelixis by 92.1% during the second quarter. Retirement Systems of Alabama now owns 731,476 shares of the biotechnology company’s stock worth $16,436,000 after purchasing an additional 350,740 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Exelixis by 1.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 157,905 shares of the biotechnology company’s stock worth $3,548,000 after buying an additional 2,732 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Exelixis by 2.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,604 shares of the biotechnology company’s stock valued at $1,384,000 after buying an additional 1,364 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $26.38, for a total value of $659,500.00. Following the completion of the sale, the executive vice president now directly owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. The trade was a 3.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the transaction, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 339,736 shares of company stock worth $11,508,610. Corporate insiders own 2.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BMO Capital Markets increased their target price on Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen increased their price target on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a report on Wednesday, October 30th. Stifel Nicolaus increased 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. Finally, Morgan Stanley boosted their price target on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.19.

Exelixis Stock Performance

NASDAQ:EXEL opened at $33.68 on Friday. Exelixis, Inc. has a 1 year low of $19.20 and a 1 year high of $36.97. The stock has a market cap of $9.62 billion, a P/E ratio of 21.59, a P/E/G ratio of 0.89 and a beta of 0.52. The stock has a 50-day simple moving average of $33.36 and a 200-day simple moving average of $27.47.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 earnings per share. On average, equities research analysts predict that Exelixis, Inc. will post 1.69 EPS 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.