USA Financial Formulas Buys Shares of 968 Exelixis, Inc. (NASDAQ:EXEL)

USA Financial Formulas purchased a new position in Exelixis, Inc. (NASDAQ:EXEL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 968 shares of the biotechnology company’s stock, valued at approximately $32,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Farallon Capital Management LLC grew its position in Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after acquiring an additional 424,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Exelixis by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock valued at $115,434,000 after purchasing an additional 349,837 shares during the period. AQR Capital Management LLC grew its holdings in shares of Exelixis by 12.7% in the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after purchasing an additional 370,199 shares during the last quarter. FMR LLC increased its stake in Exelixis by 6.1% in the 3rd quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock worth $63,891,000 after buying an additional 140,568 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in Exelixis by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after buying an additional 991,494 shares during the period. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Down 1.0 %

NASDAQ:EXEL opened at $36.20 on Friday. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 0.87 and a beta of 0.53. Exelixis, Inc. has a 52 week low of $20.01 and a 52 week high of $37.59. The firm has a 50 day moving average of $34.97 and a 200 day moving average of $29.28.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $490.31 million. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, analysts expect that Exelixis, Inc. will post 1.7 EPS for the current year.

Wall Street Analysts Forecast Growth

EXEL has been the subject of several research reports. Oppenheimer boosted their price objective on shares of Exelixis from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday. Guggenheim increased their price objective on Exelixis from $33.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. HC Wainwright lifted their target price on Exelixis from $29.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Wells Fargo & Company increased their price target on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, 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. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 41,588 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.36, for a total value of $1,428,963.68. Following the completion of the transaction, the executive vice president now owns 288,665 shares of the company’s stock, valued at approximately $9,918,529.40. This trade represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 314,736 shares of company stock worth $10,849,110. 2.85% of the stock is owned by insiders.

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.