7,364 Shares in Exelixis, Inc. (NASDAQ:EXEL) Bought by Longboard Asset Management LP

Longboard Asset Management LP bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 7,364 shares of the biotechnology company’s stock, valued at approximately $245,000. Exelixis accounts for approximately 0.6% of Longboard Asset Management LP’s portfolio, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of EXEL. V Square Quantitative Management LLC acquired a new position in Exelixis during the third quarter worth $30,000. USA Financial Formulas acquired a new stake in shares of Exelixis in the fourth quarter valued at about $32,000. Brooklyn Investment Group bought a new stake in Exelixis during the third quarter worth about $42,000. UMB Bank n.a. boosted its position in Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 553 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Exelixis in the third quarter valued at approximately $61,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insiders Place Their Bets

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the sale, the executive vice president now owns 486,059 shares in the company, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the transaction, the executive vice president now owns 278,665 shares of the company’s stock, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,588 shares of company stock worth $3,981,864 over the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $32.88 on Tuesday. The stock has a market capitalization of $9.39 billion, a PE ratio of 21.08, a P/E/G ratio of 0.72 and a beta of 0.53. Exelixis, Inc. has a fifty-two week low of $20.01 and a fifty-two week high of $37.59. The business has a fifty day moving average price of $34.61 and a two-hundred day moving average price of $30.26.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EXEL. Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $35.00 to $39.00 in a research note on Tuesday, December 17th. Guggenheim reaffirmed a “buy” rating on shares of Exelixis in a research report on Wednesday, January 22nd. Oppenheimer cut Exelixis from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $41.00 to $33.00 in a report on Friday, January 24th. JMP Securities reiterated a “market outperform” rating and issued a $41.00 price objective on shares of Exelixis in a report on Thursday, January 23rd. Finally, Stifel Nicolaus increased their price objective on shares of Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Exelixis presently has an average rating of “Moderate Buy” and an average price target of $36.06.

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.