Intech Investment Management LLC Has $8.92 Million Position in Exelixis, Inc. (NASDAQ:EXEL)

Intech Investment Management LLC lifted its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 15.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 267,725 shares of the biotechnology company’s stock after acquiring an additional 35,684 shares during the period. Intech Investment Management LLC owned approximately 0.09% of Exelixis worth $8,915,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXEL. Victory Capital Management Inc. increased its holdings in Exelixis by 16.6% in the third quarter. Victory Capital Management Inc. now owns 136,178 shares of the biotechnology company’s stock worth $3,534,000 after purchasing an additional 19,372 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of Exelixis in the 3rd quarter valued at $227,000. Natixis Advisors LLC lifted its position in shares of Exelixis by 26.2% during the 3rd quarter. Natixis Advisors LLC now owns 29,113 shares of the biotechnology company’s stock valued at $755,000 after acquiring an additional 6,051 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Exelixis during the third quarter worth $1,972,000. Finally, Advisors Asset Management Inc. grew its holdings in Exelixis by 3.2% in the third quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock worth $515,000 after purchasing an additional 609 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group upped their price objective on shares of Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Brookline Capital Management assumed coverage on Exelixis in a report on Monday, December 23rd. They issued a “buy” rating on the stock. Piper Sandler raised their price objective on Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Wells Fargo & Company lowered 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, Stifel Nicolaus lifted their price target on shares of Exelixis from $30.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Exelixis currently has a consensus rating of “Moderate Buy” and an average price target of $37.59.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $36.36 on Wednesday. Exelixis, Inc. has a 1 year low of $20.14 and a 1 year high of $40.02. The company has a market capitalization of $10.18 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The business has a fifty day moving average price of $35.48 and a two-hundred day moving average price of $32.68.

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

Insider Activity

In other news, CFO Christopher J. Senner sold 29,314 shares of the company’s stock in a transaction on Monday, February 24th. The stock was 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 owns 779,607 shares of the company’s stock, valued at $28,174,996.98. This represents a 3.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 140,343 shares of company stock valued at $5,177,234 in the last three months. Company insiders own 2.85% of the company’s stock.

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.