Victory Capital Management Inc. Purchases 19,372 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Victory Capital Management Inc. boosted its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 16.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 136,178 shares of the biotechnology company’s stock after acquiring an additional 19,372 shares during the period. Victory Capital Management Inc.’s holdings in Exelixis were worth $3,534,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EXEL. Covestor Ltd boosted its stake in shares of Exelixis by 5.7% during the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after purchasing an additional 341 shares during the period. Resonant Capital Advisors LLC grew its position in shares of Exelixis by 3.6% in the 2nd quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company’s stock worth $309,000 after buying an additional 477 shares during the last quarter. Cornercap Investment Counsel Inc. grew its position in Exelixis by 1.1% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock worth $1,135,000 after purchasing an additional 539 shares during the last quarter. Creative Planning grew its position in Exelixis by 0.8% during the 2nd quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock worth $1,611,000 after purchasing an additional 548 shares during the last quarter. Finally, Signaturefd LLC grew its position in Exelixis by 12.2% during the 3rd quarter. Signaturefd LLC now owns 6,138 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 666 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Exelixis

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the transaction, the executive vice president now directly owns 605,325 shares of the company’s stock, valued at $15,968,473.50. This represents a 3.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dana Aftab sold 1,162 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the transaction, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 289,736 shares of company stock worth $9,471,510 in the last three months. Insiders own 2.85% of the company’s stock.

Exelixis Trading Up 2.2 %

EXEL stock opened at $35.61 on Friday. Exelixis, Inc. has a twelve month low of $19.20 and a twelve month high of $36.60. The company’s 50 day moving average is $29.90 and its two-hundred day moving average is $25.60. The stock has a market cap of $10.17 billion, a P/E ratio of 22.83, a PEG ratio of 0.88 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. On average, equities research analysts predict that Exelixis, Inc. will post 1.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EXEL shares. Guggenheim upped their price objective on shares of Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets upped their price objective on shares of Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Stifel Nicolaus increased their target price on shares of Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley upped their price objective on shares of Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Finally, TD Cowen increased their target price on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Exelixis has a consensus rating of “Moderate Buy” and a consensus price target of $31.44.

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.