GAMMA Investing LLC Acquires New Shares in Exelixis, Inc. (NASDAQ:EXEL)

GAMMA Investing LLC acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,140 shares of the biotechnology company’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. raised its stake in shares of Exelixis by 31.5% during the 3rd quarter. American Century Companies Inc. now owns 1,410,113 shares of the biotechnology company’s stock valued at $30,811,000 after purchasing an additional 338,021 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Exelixis by 236.3% during the 4th quarter. State of Alaska Department of Revenue now owns 127,287 shares of the biotechnology company’s stock valued at $3,053,000 after purchasing an additional 89,436 shares during the period. Advisors Preferred LLC bought a new stake in shares of Exelixis during the 4th quarter valued at $3,384,000. Exchange Traded Concepts LLC raised its stake in shares of Exelixis by 244.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 118,359 shares of the biotechnology company’s stock valued at $2,839,000 after purchasing an additional 83,999 shares during the period. Finally, Seven Eight Capital LP raised its stake in shares of Exelixis by 61.7% during the 3rd quarter. Seven Eight Capital LP now owns 21,765 shares of the biotechnology company’s stock valued at $476,000 after purchasing an additional 8,305 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the sale, the director now owns 35,703 shares in the company, valued at approximately $857,229.03. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Exelixis news, Director David Edward Johnson acquired 190,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was acquired at an average price of $20.70 per share, for a total transaction of $3,933,000.00. Following the acquisition, the director now owns 1,100,730 shares in the company, valued at approximately $22,785,111. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alan M. Garber sold 19,205 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the sale, the director now owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The disclosure for this sale can be found here. 2.85% of the stock is owned by corporate insiders.

Exelixis Price Performance

EXEL opened at $21.90 on Tuesday. The stock’s 50 day simple moving average is $22.98 and its 200 day simple moving average is $22.23. Exelixis, Inc. has a 1 year low of $18.52 and a 1 year high of $24.34. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 0.59 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.16). Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The company had revenue of $425.23 million for the quarter, compared to the consensus estimate of $461.04 million. During the same quarter in the previous year, the business earned $0.12 earnings per share. Exelixis’s revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Exelixis, Inc. will post 1.17 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on EXEL. Stifel Nicolaus boosted their target price on Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Royal Bank of Canada boosted their target price on Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. HC Wainwright restated a “buy” rating and set a $28.00 target price on shares of Exelixis in a research report on Friday. Barclays cut Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a research report on Thursday, April 11th. Finally, William Blair restated an “outperform” rating on shares of Exelixis in a research report on Wednesday, May 1st. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

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.