Advisors Asset Management Inc. Purchases 609 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Advisors Asset Management Inc. raised its position in Exelixis, Inc. (NASDAQ:EXEL) by 3.2% during the third quarter, Holdings Channel reports. The institutional investor owned 19,853 shares of the biotechnology company’s stock after buying an additional 609 shares during the quarter. Advisors Asset Management Inc.’s holdings in Exelixis were worth $515,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Covestor Ltd boosted its position in Exelixis by 5.7% in the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 341 shares during the last quarter. Resonant Capital Advisors LLC boosted its position in Exelixis by 3.6% in the 2nd quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company’s stock valued at $309,000 after buying an additional 477 shares during the last quarter. Cornercap Investment Counsel Inc. boosted its position in Exelixis by 1.1% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock valued at $1,135,000 after buying an additional 539 shares during the last quarter. Creative Planning boosted its position in Exelixis by 0.8% in the 2nd quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock valued at $1,611,000 after buying an additional 548 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Exelixis by 12.2% in the 3rd quarter. Signaturefd LLC now owns 6,138 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 666 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Insider Transactions at Exelixis

In related news, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $28.39, for a total value of $709,750.00. Following the completion of the sale, the executive vice president now directly owns 580,325 shares in the company, valued at approximately $16,475,426.75. This trade represents a 4.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the sale, the executive vice president now owns 278,665 shares of the company’s stock, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 279,736 shares of company stock worth $9,308,410 in the last three months. Insiders own 2.85% of the company’s stock.

Analysts Set New Price Targets

EXEL has been the topic of several recent research reports. Stephens raised their price target on Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price target on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. TD Cowen raised their price target on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Morgan Stanley raised their price target on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Finally, UBS Group started coverage on Exelixis in a research report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.44.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $35.93 on Thursday. The company’s 50-day moving average price is $30.25 and its two-hundred day moving average price is $25.83. Exelixis, Inc. has a one year low of $19.20 and a one year high of $36.73. The stock has a market capitalization of $10.26 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 0.92 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same period in the prior year, the business posted $0.10 EPS. The company’s quarterly revenue was up 14.3% on a year-over-year basis. On average, analysts anticipate that Exelixis, Inc. will post 1.69 earnings per share for the current fiscal 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.