Nisa Investment Advisors LLC Purchases 71,912 Shares of Exelixis, Inc. $EXEL

Nisa Investment Advisors LLC boosted its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 195.6% during the third quarter, Holdings Channel reports. The firm owned 108,670 shares of the biotechnology company’s stock after acquiring an additional 71,912 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Exelixis were worth $6,347,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC purchased a new position in Exelixis during the 1st quarter valued at $27,000. Western Wealth Management LLC bought a new stake in shares of Exelixis in the 1st quarter worth approximately $29,000. Mather Group LLC. boosted its holdings in Exelixis by 124.6% in the third quarter. Mather Group LLC. now owns 757 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 420 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Exelixis during the 2nd quarter valued at about $46,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Exelixis during the second quarter valued at approximately $57,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $64.53 on Friday. Exelixis, Inc. has a 1 year low of $36.00 and a 1 year high of $65.50. The business’s 50 day moving average price is $58.19 and its 200-day moving average price is $53.61. The firm has a market capitalization of $15.99 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.83 and a beta of 0.47.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $628.69 million during the quarter, compared to analysts’ expectations of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. On average, sell-side analysts expect that Exelixis, Inc. will post 3.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on EXEL shares. William Blair reissued an “outperform” rating on shares of Exelixis in a report on Friday, September 11th. Zacks Research raised shares of Exelixis from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st. Morgan Stanley raised their price target on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Wall Street Zen upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Wells Fargo & Company boosted 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Exelixis presently has an average rating of “Hold” and an average target price of $51.50.

Exelixis Company Profile

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.