Inceptionr LLC Invests $814,000 in Exelixis, Inc. (NASDAQ:EXEL)

Inceptionr LLC bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) during the fourth quarter, Holdings Channel.com reports. The fund bought 24,437 shares of the biotechnology company’s stock, valued at approximately $814,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC grew its holdings in shares of Exelixis by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after buying an additional 991,494 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock worth $52,884,000 after buying an additional 704,786 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Exelixis during the third quarter worth about $14,979,000. Raymond James Financial Inc. purchased a new position in shares of Exelixis during the fourth quarter worth about $17,046,000. Finally, Burney Co. purchased a new position in shares of Exelixis during the fourth quarter worth about $12,267,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $38.58 on Friday. The business’s 50 day simple moving average is $34.90 and its 200-day simple moving average is $31.96. The firm has a market capitalization of $10.80 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a 12 month low of $20.14 and a 12 month high of $39.30.

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 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%. On average, equities analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EXEL has been the topic of a number of research reports. Oppenheimer lowered Exelixis from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $41.00 to $33.00 in a report on Friday, January 24th. Citigroup lifted their price objective on Exelixis from $38.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Guggenheim reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Exelixis in a report on Wednesday, February 12th. Brookline Capital Management initiated coverage on Exelixis in a report on Monday, December 23rd. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company lowered Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective on the stock. in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.24.

Insider Buying and Selling

In other Exelixis news, Director Bob Oliver sold 18,647 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $37.25, for a total value of $694,600.75. Following the completion of the transaction, the director now directly owns 33,514 shares in the company, valued at approximately $1,248,396.50. The trade was a 35.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Senner sold 29,314 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.14, for a total value of $1,059,407.96. Following the completion of the transaction, the chief financial officer now owns 779,607 shares of the company’s stock, valued at $28,174,996.98. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,343 shares of company stock worth $5,177,234 in the last ninety days. Insiders own 2.85% of the company’s stock.

Exelixis Company 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.