Tri Ri Asset Management Corp Invests $4.34 Million in Exelixis, Inc. (NASDAQ:EXEL)

Tri Ri Asset Management Corp acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 167,069 shares of the biotechnology company’s stock, valued at approximately $4,335,000. Exelixis comprises about 4.8% of Tri Ri Asset Management Corp’s holdings, making the stock its 8th biggest holding.

Several other hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Exelixis in the 3rd quarter valued at about $30,000. Brooklyn Investment Group acquired a new stake in shares of Exelixis during the third quarter worth $42,000. GAMMA Investing LLC lifted its stake in shares of Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 1,041 shares during the period. Capital Performance Advisors LLP purchased a new stake in Exelixis in the 3rd quarter valued at approximately $61,000. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Exelixis during the 3rd quarter valued at approximately $74,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Dana Aftab sold 96,986 shares of Exelixis stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total value of $3,394,510.00. Following the sale, the executive vice president now directly owns 498,945 shares in the company, valued at $17,463,075. This trade represents a 16.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the transaction, the executive vice president now owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. This trade represents a 3.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 339,736 shares of company stock valued at $11,508,610. Company insiders own 2.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on EXEL. The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. JMP Securities restated a “market outperform” rating and set a $29.00 target price on shares of Exelixis in a report on Friday, October 11th. Guggenheim increased their price target on shares of Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research note on Wednesday, September 18th. Finally, UBS Group initiated coverage on shares of Exelixis in a research note on Thursday, September 19th. They issued a “neutral” rating and a $30.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Exelixis presently has an average rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Stock Performance

Shares of NASDAQ EXEL traded down $0.28 during midday trading on Tuesday, reaching $35.31. 224,177 shares of the company’s stock were exchanged, compared to its average volume of 2,062,215. Exelixis, Inc. has a 52-week low of $19.20 and a 52-week high of $36.97. The business’s fifty day moving average price is $30.82 and its two-hundred day moving average price is $26.15. The stock has a market capitalization of $10.08 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results 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. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same period in the prior year, the company posted $0.10 earnings per share. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. Analysts predict that Exelixis, Inc. will post 1.69 earnings per share 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.