Exelixis, Inc. $EXEL Stock: Nisa Investment Advisors LLC Grows Stake

Nisa Investment Advisors LLC grew its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 195.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,670 shares of the biotechnology company’s stock after buying an additional 71,912 shares during the period. Nisa Investment Advisors LLC’s holdings in Exelixis were worth $6,347,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Exelixis in the second quarter valued at about $1,581,991,000. Caisse de depot et placement du Quebec bought a new stake in Exelixis in the second quarter valued at approximately $113,951,000. Bank of New York Mellon Corp acquired a new stake in Exelixis during the 2nd quarter valued at approximately $107,803,000. Jupiter Topco LLC acquired a new stake in Exelixis during the 2nd quarter valued at approximately $67,299,000. Finally, First Trust Advisors LP increased its position in Exelixis by 62.0% during the 1st quarter. First Trust Advisors LP now owns 2,534,992 shares of the biotechnology company’s stock valued at $108,726,000 after purchasing an additional 970,144 shares during the period. Institutional investors own 85.27% of the company’s stock.

Insider Transactions at Exelixis

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

Exelixis Trading Down 1.2%

Exelixis stock opened at $64.53 on Friday. Exelixis, Inc. has a 1-year low of $36.00 and a 1-year high of $65.50. The firm has a market capitalization of $15.99 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.83 and a beta of 0.47. The firm’s fifty day moving average price is $58.19 and its two-hundred day moving average price is $53.61.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $628.69 million during the quarter, compared to the consensus estimate of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%. Exelixis’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, research analysts forecast that Exelixis, Inc. will post 3.19 EPS for the current year.

Wall Street Analyst Weigh In

EXEL has been the subject of several analyst reports. Royal Bank Of Canada raised their price target on shares of Exelixis from $45.00 to $51.00 and gave the stock a “sector perform” rating in a report on Friday, October 9th. Weiss Ratings raised shares of Exelixis from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. Barclays increased their price objective on shares of Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Truist Financial lifted their target price on shares of Exelixis from $52.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, October 7th. Finally, BMO Capital Markets began coverage on shares of Exelixis in a report on Tuesday, August 18th. They issued a “market perform” rating and a $54.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Exelixis currently has a consensus rating of “Hold” and a consensus target price of $51.50.

Exelixis Company 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.