Intech Investment Management LLC Purchases 75,489 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Intech Investment Management LLC boosted its position in Exelixis, Inc. (NASDAQ:EXEL) by 48.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 232,041 shares of the biotechnology company’s stock after purchasing an additional 75,489 shares during the quarter. Intech Investment Management LLC’s holdings in Exelixis were worth $6,021,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Covestor Ltd raised its position in shares of Exelixis by 5.7% in the third quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after buying an additional 341 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in shares of Exelixis by 3.6% during the 2nd quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company’s stock valued at $309,000 after acquiring an additional 477 shares during the last quarter. Cornercap Investment Counsel Inc. grew its holdings in shares of Exelixis by 1.1% during the second quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock worth $1,135,000 after purchasing an additional 539 shares in the last quarter. Creative Planning increased its position in shares of Exelixis by 0.8% in the second quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock worth $1,611,000 after purchasing an additional 548 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Exelixis by 3.2% during the third quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock valued at $515,000 after purchasing an additional 609 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EXEL shares. Morgan Stanley raised their price objective on shares of Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Guggenheim lifted their price target on Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus increased their price objective on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. TD Cowen boosted their target price on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $34.00 price target on shares of Exelixis in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.44.

Exelixis Stock Up 2.2 %

Shares of EXEL stock opened at $35.61 on Friday. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 0.87 and a beta of 0.51. The stock has a fifty day moving average of $29.90 and a 200 day moving average of $25.57. Exelixis, Inc. has a 52 week low of $19.20 and a 52 week high of $36.60.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. During the same period last year, the company posted $0.10 EPS. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. Equities research analysts anticipate that Exelixis, Inc. will post 1.68 earnings per share for the current year.

Insider Activity

In other Exelixis news, EVP Patrick J. Haley sold 41,588 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the completion of the sale, the executive vice president now directly owns 288,665 shares in the company, valued at approximately $9,918,529.40. This trade represents a 12.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.79, for a total transaction of $515,800.00. Following the sale, the executive vice president now directly owns 630,325 shares of the company’s stock, valued at $16,256,081.75. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 289,736 shares of company stock worth $9,471,510. Corporate insiders own 2.85% of the company’s stock.

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.