Exelixis, Inc. $EXEL Shares Newly Purchased by Tucker Asset Management LLC

Tucker Asset Management LLC bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 9,530 shares of the biotechnology company’s stock, valued at approximately $557,000.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Exelixis in the 2nd quarter valued at approximately $1,581,991,000. Dimensional Fund Advisors LP grew its holdings in Exelixis by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock valued at $184,391,000 after purchasing an additional 39,920 shares during the period. Assetmark Inc. increased its stake in Exelixis by 1.7% in the first quarter. Assetmark Inc. now owns 3,388,920 shares of the biotechnology company’s stock valued at $145,351,000 after purchasing an additional 58,149 shares in the last quarter. First Trust Advisors LP increased its stake in Exelixis by 62.0% in the first quarter. First Trust Advisors LP now owns 2,534,992 shares of the biotechnology company’s stock valued at $108,726,000 after purchasing an additional 970,144 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Exelixis by 30.7% in the second quarter. Bank of America Corp DE now owns 2,149,397 shares of the biotechnology company’s stock valued at $116,949,000 after purchasing an additional 504,660 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Stock Performance

NASDAQ EXEL opened at $70.13 on Tuesday. The business has a 50 day simple moving average of $59.71 and a 200 day simple moving average of $51.05. Exelixis, Inc. has a 52-week low of $36.00 and a 52-week high of $72.10. The stock has a market cap of $17.38 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.86 and a beta of 0.47.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Thursday, October 29th. The biotechnology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.89 by $0.05. The firm had revenue of $658.70 million for the quarter, compared to the consensus estimate of $646.51 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. On average, analysts predict that Exelixis, Inc. will post 3.19 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EXEL shares. Wells Fargo & Company increased their target price on shares of Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, July 13th. Weiss Ratings raised shares of Exelixis from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Leerink Partners cut shares of Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price objective for the company. in a research report on Thursday, August 6th. Morgan Stanley raised their price objective on Exelixis from $53.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Stifel Nicolaus raised their price objective on Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $56.79.

Insiders Place Their Bets

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director owned 16,079 shares in the company, valued at approximately $862,799.14. This represents a 37.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.60% of the company’s stock.

About Exelixis

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company’s research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis’ lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.