Charles Schwab Investment Management Inc. Purchases 69,054 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Charles Schwab Investment Management Inc. lifted its position in Exelixis, Inc. (NASDAQ:EXEL) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,321,407 shares of the biotechnology company’s stock after acquiring an additional 69,054 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Exelixis were worth $122,626,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Exelixis by 32.2% during the first quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company’s stock valued at $201,000 after buying an additional 1,328 shares during the period. Raymond James Financial Inc. bought a new position in Exelixis during the fourth quarter valued at about $17,046,000. Park Avenue Securities LLC grew its position in Exelixis by 10.6% during the first quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company’s stock valued at $272,000 after buying an additional 707 shares during the period. Envestnet Asset Management Inc. grew its position in Exelixis by 23.9% during the first quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company’s stock valued at $9,159,000 after buying an additional 47,845 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new position in Exelixis during the first quarter valued at about $233,000. Institutional investors own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EXEL shares. Citigroup increased their price target on shares of Exelixis from $45.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Benchmark restated a “neutral” rating on shares of Exelixis in a research report on Monday, June 23rd. Morgan Stanley reduced their price target on shares of Exelixis from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Tuesday, July 29th. Jefferies Financial Group set a $50.00 price target on shares of Exelixis and gave the company a “buy” rating in a research report on Tuesday, June 24th. Finally, Stephens raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $29.00 to $60.00 in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.44.

Exelixis Trading Down 0.8%

Shares of Exelixis stock opened at $37.41 on Tuesday. Exelixis, Inc. has a 12-month low of $25.12 and a 12-month high of $49.62. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 0.78 and a beta of 0.29. The company’s 50-day moving average price is $42.30 and its 200-day moving average price is $39.04.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The firm had revenue of $568.26 million for the quarter, compared to the consensus estimate of $574.36 million. During the same period in the prior year, the firm posted $0.84 earnings per share. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. On average, sell-side analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insider Transactions at Exelixis

In related news, Director Jack L. Wyszomierski sold 7,535 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total value of $324,683.15. Following the sale, the director directly owned 358,882 shares of the company’s stock, valued at $15,464,225.38. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Patrick J. Haley sold 34,387 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $44.06, for a total transaction of $1,515,091.22. Following the completion of the sale, the executive vice president directly owned 412,072 shares in the company, valued at $18,155,892.32. This represents a 7.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 456,605 shares of company stock valued at $20,966,005. Company insiders own 2.85% of the company’s stock.

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.