Assetmark Inc. Buys 34,466 Shares of Exelixis, Inc. $EXEL

Assetmark Inc. grew its stake in Exelixis, Inc. (NASDAQ:EXEL) by 16.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 240,158 shares of the biotechnology company’s stock after acquiring an additional 34,466 shares during the quarter. Assetmark Inc. owned 0.09% of Exelixis worth $10,585,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EXEL. Hemington Wealth Management boosted its holdings in Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 522 shares in the last quarter. Byrne Asset Management LLC boosted its holdings in Exelixis by 129.0% in the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 400 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new position in shares of Exelixis during the second quarter valued at $33,000. Costello Asset Management INC bought a new position in shares of Exelixis during the first quarter valued at $39,000. Finally, Harbour Investments Inc. lifted its holdings in shares of Exelixis by 900.0% during the first quarter. Harbour Investments Inc. now owns 1,100 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 990 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a report on Tuesday, July 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a report on Wednesday, October 8th. HC Wainwright lowered their price target on Exelixis from $53.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Leerink Partners raised Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a report on Tuesday, October 21st. Finally, Barclays assumed coverage on Exelixis in a report on Wednesday, September 17th. They set an “equal weight” rating and a $40.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.53.

Exelixis Stock Performance

Exelixis stock opened at $38.67 on Friday. The stock has a market cap of $10.41 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 0.79 and a beta of 0.38. Exelixis, Inc. has a one year low of $31.90 and a one year high of $49.62. The stock has a fifty day moving average of $38.81 and a 200 day moving average of $40.25.

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.