Edgestream Partners L.P. Purchases New Shares in Exelixis, Inc. (NASDAQ:EXEL)

Edgestream Partners L.P. purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 110,811 shares of the biotechnology company’s stock, valued at approximately $2,118,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXEL. Fifth Third Bancorp raised its position in Exelixis by 100.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,366 shares of the biotechnology company’s stock worth $26,000 after buying an additional 686 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in Exelixis during the 2nd quarter worth $28,000. Massmutual Trust Co. FSB ADV raised its position in Exelixis by 189.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,440 shares of the biotechnology company’s stock worth $28,000 after buying an additional 943 shares during the last quarter. CENTRAL TRUST Co acquired a new position in shares of Exelixis during the 2nd quarter worth $34,000. Finally, Parallel Advisors LLC grew its stake in shares of Exelixis by 52.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,809 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 625 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

EXEL has been the topic of several recent analyst reports. Truist Financial restated a “buy” rating and set a $32.00 target price on shares of Exelixis in a research report on Wednesday, September 13th. Guggenheim restated a “buy” rating and issued a $30.00 price target on shares of Exelixis in a report on Wednesday, October 11th. HC Wainwright started coverage on Exelixis in a report on Tuesday, September 26th. They set a “buy” rating and a $28.00 price objective for the company. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a report on Friday, November 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research note on Monday, October 23rd. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.44.

Insider Transactions at Exelixis

In other news, EVP Dana Aftab sold 4,600 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $22.47, for a total transaction of $103,362.00. Following the transaction, the executive vice president now directly owns 399,943 shares in the company, valued at approximately $8,986,719.21. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.90% of the company’s stock.

Exelixis Stock Up 0.7 %

EXEL stock opened at $21.13 on Monday. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 75.46, a price-to-earnings-growth ratio of 1.16 and a beta of 0.59. Exelixis, Inc. has a 52-week low of $15.32 and a 52-week high of $22.80. The stock’s fifty day simple moving average is $21.30 and its 200-day simple moving average is $20.47.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). Exelixis had a return on equity of 3.71% and a net margin of 5.19%. The business had revenue of $471.90 million during the quarter, compared to analyst estimates of $473.31 million. During the same period in the previous year, the business posted $0.23 earnings per share. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, analysts anticipate that Exelixis, Inc. will post 0.62 earnings per share for the current fiscal year.

Exelixis Company Profile

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines 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.