Morningstar Investment Management LLC Invests $221,000 in Exelixis, Inc. (NASDAQ:EXEL)

Morningstar Investment Management LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) during the fourth quarter, HoldingsChannel reports. The fund purchased 6,624 shares of the biotechnology company’s stock, valued at approximately $221,000.

Several other institutional investors have also added to or reduced their stakes in EXEL. Blue Trust Inc. lifted its position in Exelixis by 54.2% in the 3rd quarter. Blue Trust Inc. now owns 6,094 shares of the biotechnology company’s stock valued at $158,000 after acquiring an additional 2,141 shares in the last quarter. Raymond James & Associates lifted its position in Exelixis by 118.2% in the 3rd quarter. Raymond James & Associates now owns 239,661 shares of the biotechnology company’s stock valued at $6,219,000 after acquiring an additional 129,805 shares in the last quarter. Signaturefd LLC lifted its position in Exelixis by 12.2% in the 3rd quarter. Signaturefd LLC now owns 6,138 shares of the biotechnology company’s stock valued at $159,000 after acquiring an additional 666 shares in the last quarter. Lecap Asset Management Ltd. acquired a new stake in Exelixis in the 3rd quarter valued at $326,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Exelixis by 18.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,317 shares of the biotechnology company’s stock valued at $268,000 after buying an additional 1,620 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Performance

Shares of EXEL stock opened at $35.07 on Thursday. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.13 and a beta of 0.53. The company has a 50-day simple moving average of $34.16 and a 200 day simple moving average of $31.11. Exelixis, Inc. has a 52 week low of $20.14 and a 52 week high of $37.59.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. Sell-side analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current year.

Analysts Set New Price Targets

EXEL has been the topic of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $34.00 price target on shares of Exelixis in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price target on shares of Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler lifted their price target on shares of Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Oppenheimer lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $41.00 to $33.00 in a research note on Friday, January 24th. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Exelixis in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned 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 $37.24.

Insider Buying and Selling

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the business’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 directly owns 278,665 shares of the company’s stock, valued at $9,828,514.55. This represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,210 shares of company stock valued at $2,978,785. Company insiders own 2.85% of the company’s stock.

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.