Tucker Asset Management LLC Buys New Shares in Exelixis, Inc. $EXEL

Tucker Asset Management LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the third quarter, HoldingsChannel reports. The fund purchased 9,530 shares of the biotechnology company’s stock, valued at approximately $557,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Exelixis during the 2nd quarter worth approximately $1,581,991,000. Dimensional Fund Advisors LP lifted its position in shares of Exelixis by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock worth $184,391,000 after purchasing an additional 39,920 shares in the last quarter. Assetmark Inc. lifted its position in shares of Exelixis by 1.7% in the first quarter. Assetmark Inc. now owns 3,388,920 shares of the biotechnology company’s stock worth $145,351,000 after purchasing an additional 58,149 shares in the last quarter. First Trust Advisors LP boosted its holdings in Exelixis by 62.0% during the first quarter. First Trust Advisors LP now owns 2,534,992 shares of the biotechnology company’s stock worth $108,726,000 after purchasing an additional 970,144 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Exelixis by 30.7% during the second quarter. Bank of America Corp DE now owns 2,149,397 shares of the biotechnology company’s stock worth $116,949,000 after purchasing an additional 504,660 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Insider Activity at Exelixis

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. TD Cowen raised their target price on shares of Exelixis from $55.00 to $76.00 and gave the company a “buy” rating in a research report on Friday. Stifel Nicolaus boosted their price target on shares of Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. HC Wainwright boosted their price target on shares of Exelixis from $56.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday. Citizens Jmp increased their price objective 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. Finally, Citigroup restated a “market outperform” rating on shares of Exelixis in a report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Exelixis presently has an average rating of “Hold” and an average target price of $56.79.

Exelixis Trading Up 1.1%

NASDAQ:EXEL opened at $70.13 on Tuesday. The stock has a market capitalization of $17.38 billion, a PE ratio of 21.00, a P/E/G ratio of 1.86 and a beta of 0.47. Exelixis, Inc. has a 1-year low of $36.00 and a 1-year high of $72.10. The firm has a fifty day simple moving average of $59.71 and a 200 day simple moving average of $51.05.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Thursday, October 29th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.05. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The firm had revenue of $658.70 million for the quarter, compared to analyst estimates of $646.51 million. During the same period in the prior year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Exelixis, Inc. will post 3.19 earnings per share for the current fiscal year.

Exelixis Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company’s research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis’ lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.