Intech Investment Management LLC Buys 60,925 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Intech Investment Management LLC increased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 155.8% during the first quarter, Holdings Channel reports. The institutional investor owned 100,039 shares of the biotechnology company’s stock after purchasing an additional 60,925 shares during the quarter. Intech Investment Management LLC’s holdings in Exelixis were worth $2,374,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management grew its holdings in shares of Exelixis by 1,651.4% during the 1st quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock worth $65,844,000 after purchasing an additional 2,616,278 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Exelixis by 236.3% during the 4th quarter. State of Alaska Department of Revenue now owns 127,287 shares of the biotechnology company’s stock worth $3,053,000 after acquiring an additional 89,436 shares during the period. Advisors Preferred LLC acquired a new stake in shares of Exelixis during the 4th quarter valued at about $3,384,000. Los Angeles Capital Management LLC raised its position in Exelixis by 948.3% in the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after purchasing an additional 2,220,150 shares in the last quarter. Finally, NewEdge Wealth LLC lifted its stake in Exelixis by 45.4% during the fourth quarter. NewEdge Wealth LLC now owns 681,104 shares of the biotechnology company’s stock worth $16,340,000 after purchasing an additional 212,553 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Insider Activity at Exelixis

In other Exelixis news, Director Jack L. Wyszomierski sold 10,923 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $21.37, for a total transaction of $233,424.51. Following the completion of the sale, the director now directly owns 338,948 shares in the company, valued at $7,243,318.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jack L. Wyszomierski sold 8,287 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $22.00, for a total value of $182,314.00. Following the transaction, the director now directly owns 349,499 shares in the company, valued at $7,688,978. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack L. Wyszomierski sold 10,923 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $21.37, for a total transaction of $233,424.51. Following the transaction, the director now directly owns 338,948 shares in the company, valued at $7,243,318.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,896 shares of company stock worth $660,677. Insiders own 2.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EXEL. TD Cowen increased their target price on Exelixis from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. William Blair reissued an “outperform” rating on shares of Exelixis in a report on Wednesday, May 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 target price on shares of Exelixis in a report on Wednesday, April 10th. HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective on shares of Exelixis in a research report on Friday, May 3rd. Finally, Stephens started coverage on Exelixis in a report on Tuesday, May 14th. They set an “equal weight” rating and a $23.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.13.

Exelixis Stock Performance

Exelixis stock traded up $0.04 during midday trading on Friday, reaching $22.60. 1,351,379 shares of the company’s stock were exchanged, compared to its average volume of 1,513,738. Exelixis, Inc. has a 52 week low of $18.64 and a 52 week high of $24.34. The stock’s 50-day simple moving average is $21.77 and its 200 day simple moving average is $22.19. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 35.31, a P/E/G ratio of 0.56 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.16). Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The business had revenue of $425.23 million for the quarter, compared to analyst estimates of $461.04 million. During the same period in the prior year, the business earned $0.12 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts forecast that Exelixis, Inc. will post 1.14 earnings per share for the current year.

Exelixis Company 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.