Navellier & Associates Inc. Makes New $573,000 Investment in Exelixis, Inc. (NASDAQ:EXEL)

Navellier & Associates Inc. acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 3rd quarter, Holdings Channel reports. The fund acquired 22,070 shares of the biotechnology company’s stock, valued at approximately $573,000.

A number of other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Exelixis during the third quarter valued at about $30,000. Park Place Capital Corp bought a new stake in Exelixis during the 2nd quarter valued at approximately $45,000. GAMMA Investing LLC raised its stake in Exelixis by 107.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 1,041 shares during the period. EntryPoint Capital LLC lifted its holdings in Exelixis by 537.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 1,746 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Exelixis in the 3rd quarter worth approximately $61,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Activity

In other Exelixis news, EVP Patrick J. Haley sold 41,588 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.36, for a total value 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 represents a 12.59 % decrease in their position. The sale was disclosed in a filing 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 on Monday, August 26th. The shares were sold at an average price of $25.79, for a total value of $515,800.00. Following the transaction, the executive vice president now owns 630,325 shares in the company, valued at approximately $16,256,081.75. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 289,736 shares of company stock valued at $9,471,510. 2.85% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on EXEL shares. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Piper Sandler boosted their price target on shares of Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Truist Financial raised their price objective on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets raised their price target on Exelixis from $29.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.44.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $34.83 on Friday. Exelixis, Inc. has a 1 year low of $19.20 and a 1 year high of $36.60. The firm has a 50-day simple moving average of $29.72 and a two-hundred day simple moving average of $25.48. The company has a market cap of $9.95 billion, a P/E ratio of 22.33, a PEG ratio of 0.87 and a beta of 0.51.

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

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.