Exelixis, Inc. (NASDAQ:EXEL) Shares Acquired by Moran Wealth Management LLC

Moran Wealth Management LLC boosted its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 59.1% during the third quarter, Holdings Channel reports. The firm owned 29,946 shares of the biotechnology company’s stock after buying an additional 11,119 shares during the quarter. Moran Wealth Management LLC’s holdings in Exelixis were worth $777,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management lifted its position in Exelixis by 107.7% during the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after buying an additional 2,989,021 shares during the period. Los Angeles Capital Management LLC increased its stake in Exelixis by 124.0% during 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. Swedbank AB acquired a new position in shares of Exelixis in the first quarter worth about $22,455,000. Farallon Capital Management LLC boosted its stake in shares of Exelixis by 1.6% during 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 buying an additional 424,000 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Exelixis by 12.7% in the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after buying an additional 370,199 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Trading Up 0.5 %

Shares of Exelixis stock opened at $34.83 on Friday. The firm has a market capitalization of $9.95 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 0.87 and a beta of 0.51. Exelixis, Inc. has a 12 month low of $19.20 and a 12 month high of $36.60. The business’s fifty day simple moving average is $29.72 and its 200 day simple moving average is $25.48.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share 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 the consensus estimate of $490.31 million. During the same quarter last year, the company earned $0.10 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. Analysts predict that Exelixis, Inc. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EXEL. Guggenheim lifted their price objective on shares of Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Stifel Nicolaus raised 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. HC Wainwright reaffirmed a “buy” rating and set a $29.00 target price on shares of Exelixis in a research report on Wednesday, September 18th. Royal Bank of Canada restated an “outperform” rating and issued a $34.00 target price on shares of Exelixis in a report on Wednesday, October 30th. Finally, Oppenheimer reissued an “outperform” rating and set a $29.00 price objective on shares of Exelixis in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.44.

Insider Activity

In other Exelixis news, EVP Jeffrey Hessekiel sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $25.79, for a total transaction of $515,800.00. Following the completion of the sale, the executive vice president now directly owns 630,325 shares in the company, valued at $16,256,081.75. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George Poste sold 30,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the transaction, the director now directly owns 169,020 shares of the company’s stock, valued at approximately $5,746,680. This trade represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 289,736 shares of company stock worth $9,471,510. 2.85% of the stock is currently owned by insiders.

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.