Exelixis, Inc. (NASDAQ:EXEL) Position Boosted by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. boosted its position in Exelixis, Inc. (NASDAQ:EXEL) by 28.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,200 shares of the biotechnology company’s stock after buying an additional 16,677 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Exelixis were worth $2,504,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC increased its holdings in shares of Exelixis by 7.8% in the 4th quarter. Sterling Capital Management LLC now owns 6,627 shares of the biotechnology company’s stock valued at $221,000 after acquiring an additional 477 shares during the last quarter. Covestor Ltd increased its stake in Exelixis by 13.6% during the fourth quarter. Covestor Ltd now owns 7,198 shares of the biotechnology company’s stock valued at $240,000 after purchasing an additional 863 shares during the last quarter. LSV Asset Management increased its stake in Exelixis by 0.8% during the fourth quarter. LSV Asset Management now owns 8,169,847 shares of the biotechnology company’s stock valued at $272,056,000 after purchasing an additional 67,470 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Exelixis during the fourth quarter worth $17,046,000. Finally, Applied Finance Capital Management LLC acquired a new position in shares of Exelixis in the 4th quarter valued at about $245,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Stock Up 1.2 %

Shares of Exelixis stock opened at $35.74 on Tuesday. The business has a fifty day simple moving average of $36.21 and a 200-day simple moving average of $34.08. The firm has a market cap of $10.00 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $40.02.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. Analysts anticipate 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 Bob Oliver sold 18,647 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $37.25, for a total transaction of $694,600.75. Following the sale, the director now owns 33,514 shares in the company, valued at approximately $1,248,396.50. The trade was a 35.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was 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 owns 341,028 shares of the company’s stock, valued at approximately $13,231,886.40. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,343 shares of company stock valued at $5,177,234. Corporate insiders own 2.85% of the company’s stock.

Wall Street Analyst Weigh In

EXEL has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Exelixis in a report on Thursday, March 27th. Stephens restated an “equal weight” rating and set a $29.00 price objective on shares of Exelixis in a research report on Wednesday, February 12th. Morgan Stanley raised Exelixis from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $30.00 to $40.00 in a research report on Monday, January 27th. Citigroup boosted their price target on shares of Exelixis from $38.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Truist Financial increased their price objective on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.59.

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.