23,999 Shares in Exelixis, Inc. $EXEL Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 23,999 shares of the biotechnology company’s stock, valued at approximately $1,402,000.

Other large investors have also made changes to their positions in the company. Cassaday & Co Wealth Management LLC purchased a new position in shares of Exelixis during the 1st quarter valued at approximately $27,000. Western Wealth Management LLC acquired a new stake in Exelixis in the 1st quarter valued at $29,000. Mather Group LLC. grew its stake in Exelixis by 124.6% in the 3rd quarter. Mather Group LLC. now owns 757 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 420 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Exelixis in the 2nd quarter worth $46,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Exelixis in the 2nd quarter worth $57,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on EXEL shares. HC Wainwright upped their price objective on shares of Exelixis from $56.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. Morgan Stanley lifted their target price on shares of Exelixis from $53.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, October 30th. Citizens Jmp boosted their target price on shares of Exelixis from $55.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Monday, October 19th. Wells Fargo & Company boosted their target price on shares of Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, July 13th. Finally, Wall Street Zen downgraded shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Exelixis currently has an average rating of “Hold” and a consensus target price of $58.85.

Insider Transactions at Exelixis

In other news, Director Mary Beckerle sold 9,812 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the sale, the director owned 16,079 shares of the company’s stock, valued at $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is currently owned by company insiders.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $69.57 on Friday. The business’s 50 day moving average price is $60.92 and its 200-day moving average price is $51.57. The firm has a market capitalization of $16.98 billion, a PE ratio of 20.83, a P/E/G ratio of 1.79 and a beta of 0.45. Exelixis, Inc. has a 1 year low of $39.71 and a 1 year high of $73.69.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Thursday, October 29th. The biotechnology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.89 by $0.05. Exelixis had a return on equity of 45.54% and a net margin of 35.45%. The firm had revenue of $658.70 million during the quarter, compared to analysts’ expectations of $646.51 million. During the same period in the previous year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts expect that Exelixis, Inc. will post 3.42 earnings per share for the current year.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company focused on discovering, developing and commercializing medicines for cancer. Founded in 1994 and headquartered in Alameda, California, the company has built its business around oncology treatments and continues to advance a pipeline of potential cancer therapies.

Its principal marketed medicine is cabozantinib, sold in the United States as Cabometyx and Cometriq. Cabometyx is used to treat certain patients with advanced kidney, liver and thyroid cancers, while Cometriq is used for medullary thyroid cancer.