Envestnet Asset Management Inc. Has $6.67 Million Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Envestnet Asset Management Inc. boosted its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 17.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 200,228 shares of the biotechnology company’s stock after buying an additional 29,892 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of Exelixis worth $6,668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Principal Securities Inc. boosted its position in Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 373 shares during the last quarter. USA Financial Formulas bought a new stake in Exelixis during the fourth quarter valued at about $32,000. Kestra Investment Management LLC bought a new stake in Exelixis during the 4th quarter valued at approximately $39,000. UMB Bank n.a. increased its position in Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 553 shares during the period. Finally, Crowley Wealth Management Inc. acquired a new position in shares of Exelixis during the fourth quarter valued at about $50,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Guggenheim reiterated a “buy” rating and set a $42.00 price target on shares of Exelixis in a research note on Wednesday, February 12th. Oppenheimer lowered Exelixis from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $41.00 to $33.00 in a research note on Friday, January 24th. Wells Fargo & Company reaffirmed a “market outperform” rating on shares of Exelixis in a report on Thursday. JMP Securities restated a “market outperform” rating and issued a $41.00 price objective on shares of Exelixis in a report on Thursday. Finally, Barclays boosted their target price on Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

Exelixis Stock Performance

Exelixis stock opened at $36.19 on Monday. Exelixis, Inc. has a 52 week low of $20.14 and a 52 week high of $40.02. The stock has a 50-day simple moving average of $36.44 and a 200 day simple moving average of $34.36. The stock has a market capitalization of $10.13 billion, a P/E ratio of 20.45, a PEG ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last announced its earnings results 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 23.52% and a net margin of 24.04%. Research analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insider Activity at Exelixis

In related news, EVP Patrick J. Haley sold 52,636 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.98, for a total transaction 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 trade represents a 14.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $34.88, for a total transaction of $425,884.80. Following the transaction, the director now owns 30,406 shares in the company, valued at approximately $1,060,561.28. The trade was a 28.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,343 shares of company stock worth $5,177,234 in the last ninety days. 2.85% of the stock is owned by company insiders.

About Exelixis

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.