Navellier & Associates Inc lifted its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 34.9% in the fourth quarter, HoldingsChannel reports. The firm owned 74,942 shares of the biotechnology company’s stock after buying an additional 19,394 shares during the quarter. Navellier & Associates Inc’s holdings in Exelixis were worth $2,278,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Exelixis in the third quarter valued at approximately $120,000. Sigma Planning Corp acquired a new position in shares of Exelixis in the fourth quarter valued at approximately $208,000. American International Group Inc. acquired a new position in shares of Exelixis in the fourth quarter valued at approximately $208,000. Fisher Asset Management LLC acquired a new position in shares of Exelixis in the third quarter valued at approximately $213,000. Finally, Klingenstein Fields & Co. LLC acquired a new position in shares of Exelixis in the fourth quarter valued at approximately $213,000. Hedge funds and other institutional investors own 79.48% of the company’s stock.
In other news, Director Alan M. Garber sold 15,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $30.30, for a total value of $454,500.00. Following the completion of the transaction, the director now owns 64,829 shares in the company, valued at approximately $1,964,318.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 5.10% of the company’s stock.
A number of research analysts recently weighed in on the stock. William Blair restated an “outperform” rating on shares of Exelixis in a report on Monday, February 12th. BidaskClub upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Oppenheimer restated a “hold” rating on shares of Exelixis in a report on Wednesday, January 17th. Cann reiterated a “hold” rating on shares of Exelixis in a report on Thursday, January 4th. Finally, Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a report on Tuesday, January 2nd. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $32.13.
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Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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