Edgestream Partners L.P. Raises Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Edgestream Partners L.P. lifted its position in Exelixis, Inc. (NASDAQ:EXEL) by 50.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,293 shares of the biotechnology company’s stock after acquiring an additional 37,085 shares during the quarter. Edgestream Partners L.P.’s holdings in Exelixis were worth $3,673,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas bought a new stake in shares of Exelixis in the 4th quarter worth about $32,000. Principal Securities Inc. lifted its holdings in shares of Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 373 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Exelixis in the 4th quarter worth about $39,000. Brooklyn Investment Group bought a new stake in shares of Exelixis in the 3rd quarter worth about $42,000. Finally, UMB Bank n.a. lifted its holdings in shares of Exelixis by 68.4% in the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 553 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Exelixis from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $30.00 to $40.00 in a report on Monday, January 27th. Truist Financial lifted their price objective on shares of Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 27th. BMO Capital Markets lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $36.00 to $40.00 in a report on Friday, December 20th. Bank of America lowered shares of Exelixis from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $35.00 to $39.00 in a report on Tuesday, December 17th. Finally, Stephens reiterated an “equal weight” rating and set a $29.00 price objective on shares of Exelixis in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.24.

Insider Transactions at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 29,314 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the sale, the chief financial officer now owns 779,607 shares of the company’s stock, valued at approximately $28,174,996.98. The trade was a 3.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick J. Haley sold 52,636 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the sale, the executive vice president now directly owns 303,310 shares in the company, valued at approximately $11,216,403.80. This represents a 14.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock valued at $5,177,234 in the last 90 days. Insiders own 2.85% of the company’s stock.

Exelixis Stock Up 1.0 %

Shares of Exelixis stock opened at $38.58 on Friday. The firm’s 50 day moving average price is $34.99 and its 200-day moving average price is $32.08. Exelixis, Inc. has a 52-week low of $20.14 and a 52-week high of $39.30. The company has a market cap of $10.80 billion, a P/E ratio of 21.80, a PEG ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. As a group, equities research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

About Exelixis

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.