Everence Capital Management Inc. Buys Shares of 8,150 Exelixis, Inc. (NASDAQ:EXEL)

Everence Capital Management Inc. purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 8,150 shares of the biotechnology company’s stock, valued at approximately $271,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXEL. Los Angeles Capital Management LLC raised its position in 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 valued at $46,473,000 after acquiring an additional 991,494 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Exelixis during the 3rd quarter worth $14,979,000. Farallon Capital Management LLC raised its holdings in shares of Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after purchasing an additional 424,000 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Exelixis by 12.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after purchasing an additional 370,199 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Exelixis by 263.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 483,064 shares of the biotechnology company’s stock worth $12,536,000 after purchasing an additional 350,026 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on EXEL shares. Wells Fargo & Company raised their target price on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. JMP Securities reaffirmed a “market outperform” rating and set a $29.00 target price on shares of Exelixis in a research report on Friday, October 11th. Morgan Stanley increased their price target on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Finally, Piper Sandler boosted their price objective on shares of Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Exelixis Trading Up 3.0 %

Shares of EXEL stock opened at $34.21 on Wednesday. Exelixis, Inc. has a 12 month low of $19.20 and a 12 month high of $36.97. The company has a market capitalization of $9.77 billion, a P/E ratio of 21.93, a P/E/G ratio of 0.89 and a beta of 0.53. The stock has a 50 day moving average of $34.78 and a two-hundred day moving average of $28.63.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. During the same period last year, the business earned $0.10 earnings per share. Exelixis’s quarterly revenue was up 14.3% compared to the same quarter last year. Sell-side analysts predict that Exelixis, Inc. will post 1.69 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the sale, the executive vice president now owns 486,059 shares in the company, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dana Aftab sold 1,162 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the sale, the executive vice president now owns 498,945 shares of the company’s stock, valued at $15,666,873. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 314,736 shares of company stock valued at $10,849,110. Company insiders own 2.85% of the company’s stock.

Exelixis 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.