Range Financial Group LLC Invests $994,000 in Exelixis, Inc. (NASDAQ:EXEL)

Range Financial Group LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,855 shares of the biotechnology company’s stock, valued at approximately $994,000.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Exelixis during the third quarter worth about $30,000. Brooklyn Investment Group acquired a new stake in shares of Exelixis in the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP purchased a new position in Exelixis in the 3rd quarter valued at approximately $61,000. Essex Investment Management Co. LLC acquired a new position in Exelixis during the third quarter worth $74,000. Finally, GAMMA Investing LLC boosted its position in Exelixis by 50.0% during the third quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 1,004 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EXEL. Wells Fargo & Company lifted their price target on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Stephens upped their price target on shares of Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. UBS Group initiated coverage on shares of Exelixis in a research note on Thursday, September 19th. They set a “neutral” rating and a $30.00 price objective for the company. Morgan Stanley upped their target price on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus raised their price target on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Insider Activity

In other news, EVP Dana Aftab sold 1,162 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $15,666,873. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $28.39, for a total value of $709,750.00. Following the transaction, the executive vice president now owns 580,325 shares in the company, valued at $16,475,426.75. This trade represents a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 314,736 shares of company stock worth $10,849,110 over the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Exelixis Trading Up 3.0 %

Shares of EXEL traded up $1.01 during midday trading on Tuesday, reaching $34.21. 2,441,349 shares of the company were exchanged, compared to its average volume of 1,907,130. Exelixis, Inc. has a 1-year low of $19.20 and a 1-year high of $36.97. The stock has a 50-day moving average price of $34.67 and a 200-day moving average price of $28.54. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 0.89 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Exelixis’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. Equities research analysts anticipate that Exelixis, Inc. will post 1.69 earnings per share for the current year.

Exelixis 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.