Marietta Investment Partners LLC Purchases Shares of 54,294 Exelixis, Inc. (NASDAQ:EXEL)

Marietta Investment Partners LLC purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 54,294 shares of the biotechnology company’s stock, valued at approximately $1,808,000.

A number of other hedge funds also recently bought and sold shares of the stock. FMR LLC raised its position in Exelixis by 6.1% in the 3rd quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock valued at $63,891,000 after purchasing an additional 140,568 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Exelixis by 20.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 2,156,996 shares of the biotechnology company’s stock valued at $71,828,000 after purchasing an additional 366,141 shares in the last quarter. Two Sigma Advisers LP raised its position in Exelixis by 6.1% in the 3rd quarter. Two Sigma Advisers LP now owns 1,702,590 shares of the biotechnology company’s stock valued at $44,182,000 after purchasing an additional 98,000 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Exelixis by 82.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock worth $52,884,000 after acquiring an additional 704,786 shares in the last quarter. Finally, Systematic Financial Management LP raised its position in shares of Exelixis by 7.1% during the 3rd quarter. Systematic Financial Management LP now owns 1,168,391 shares of the biotechnology company’s stock worth $30,320,000 after acquiring an additional 77,599 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EXEL shares. Guggenheim reissued a “buy” rating and set a $42.00 target price on shares of Exelixis in a research report on Wednesday, February 12th. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 19th. Truist Financial raised their target price on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company lowered Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 target price on the stock. in a research report on Monday, February 24th. Finally, Bank of America lowered Exelixis from a “buy” rating to a “neutral” rating and raised their target price for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

Insider Activity at Exelixis

In related news, CFO Christopher J. Senner sold 29,314 shares of Exelixis stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the completion of the transaction, the chief financial officer now directly owns 779,607 shares of the company’s stock, valued at approximately $28,174,996.98. The trade was a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Patrick J. Haley sold 52,636 shares of Exelixis stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.98, for a total value of $1,946,479.28. Following the transaction, the executive vice president now directly owns 303,310 shares of the company’s stock, valued at approximately $11,216,403.80. This represents a 14.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock worth $5,177,234 over the last three months. 2.85% of the stock is currently owned by corporate insiders.

Exelixis Price Performance

Exelixis stock opened at $36.96 on Friday. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $40.02. The company has a market cap of $10.34 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The stock’s 50 day moving average price is $35.61 and its 200 day moving average price is $32.82.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. On average, equities research analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Exelixis Company 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.