Summit Trail Advisors LLC Makes New Investment in Exelixis, Inc. (NASDAQ:EXEL)

Summit Trail Advisors LLC purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the fourth quarter, Holdings Channel reports. The firm purchased 6,910 shares of the biotechnology company’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of EXEL. Los Angeles Capital Management LLC boosted its stake in Exelixis by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after acquiring an additional 991,494 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Exelixis during the 3rd quarter valued at $14,979,000. Burney Co. acquired a new stake in shares of Exelixis in the 4th quarter worth $12,267,000. Robeco Institutional Asset Management B.V. grew its stake in Exelixis by 263.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 483,064 shares of the biotechnology company’s stock worth $12,536,000 after buying an additional 350,026 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in Exelixis during the 4th quarter valued at about $7,455,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Stock Down 0.0 %

Shares of EXEL opened at $32.80 on Thursday. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.63 and a beta of 0.53. Exelixis, Inc. has a 52 week low of $20.14 and a 52 week high of $37.59. The stock’s 50-day moving average price is $34.24 and its 200-day moving average price is $30.72.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 20.99% and a net margin of 22.43%. As a group, equities analysts anticipate that Exelixis, Inc. will post 1.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EXEL has been the topic of a number of research analyst reports. StockNews.com lowered Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company boosted their target price on shares of Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Exelixis in a report on Monday, January 27th. Brookline Capital Management started coverage on shares of Exelixis in a research note on Monday, December 23rd. They set a “buy” rating for the company. Finally, JMP Securities reissued a “market outperform” rating and issued a $41.00 target price on shares of Exelixis in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Exelixis presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Insider Activity at Exelixis

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the sale, the executive vice president now directly owns 278,665 shares in the company, valued at approximately $9,828,514.55. The trade was a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,588 shares of company stock worth $3,981,864 in the last three months. Company insiders own 2.85% of the company’s stock.

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.