Edgestream Partners L.P. Makes New $2.12 Million Investment in Exelixis, Inc. (NASDAQ:EXEL)

Edgestream Partners L.P. acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 110,811 shares of the biotechnology company’s stock, valued at approximately $2,118,000.

Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Exelixis by 4.9% during the first quarter. BlackRock Inc. now owns 36,214,174 shares of the biotechnology company’s stock worth $702,917,000 after acquiring an additional 1,683,880 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Exelixis by 0.7% in the third quarter. Vanguard Group Inc. now owns 31,284,832 shares of the biotechnology company’s stock valued at $490,546,000 after buying an additional 220,099 shares in the last quarter. Farallon Capital Management LLC increased its stake in shares of Exelixis by 115.9% in the first quarter. Farallon Capital Management LLC now owns 23,466,000 shares of the biotechnology company’s stock valued at $455,475,000 after buying an additional 12,597,851 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Exelixis by 2.1% in the first quarter. Renaissance Technologies LLC now owns 15,279,389 shares of the biotechnology company’s stock valued at $296,573,000 after buying an additional 318,300 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Exelixis by 3.4% in the third quarter. State Street Corp now owns 13,019,900 shares of the biotechnology company’s stock valued at $204,152,000 after buying an additional 423,520 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXEL has been the subject of a number of research reports. StockNews.com upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 3rd. Truist Financial restated a “buy” rating and issued a $32.00 target price on shares of Exelixis in a research note on Wednesday, September 13th. HC Wainwright initiated coverage on Exelixis in a research note on Tuesday, September 26th. They issued a “buy” rating and a $28.00 target price for the company. Morgan Stanley raised their target price on Exelixis from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Finally, William Blair restated an “outperform” rating on shares of Exelixis in a research note on Monday, October 23rd. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Exelixis has an average rating of “Moderate Buy” and a consensus price target of $25.44.

Exelixis Trading Up 0.7 %

Shares of EXEL opened at $21.13 on Monday. Exelixis, Inc. has a 1 year low of $15.32 and a 1 year high of $22.80. The stock has a market cap of $6.57 billion, a P/E ratio of 75.46, a price-to-earnings-growth ratio of 1.16 and a beta of 0.59. The stock’s 50-day moving average price is $21.30 and its two-hundred day moving average price is $20.47.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, November 1st. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). Exelixis had a return on equity of 3.71% and a net margin of 5.19%. The company had revenue of $471.90 million for the quarter, compared to the consensus estimate of $473.31 million. During the same quarter last year, the business posted $0.23 EPS. Exelixis’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, equities analysts forecast that Exelixis, Inc. will post 0.62 EPS for the current year.

Insider Transactions at Exelixis

In other news, EVP Dana Aftab sold 4,600 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $22.47, for a total transaction of $103,362.00. Following the sale, the executive vice president now owns 399,943 shares of the company’s stock, valued at $8,986,719.21. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.90% of the stock is currently owned by insiders.

About Exelixis

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines 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.