Oppenheimer Asset Management Inc. Takes Position in Exelixis, Inc. $EXEL

Oppenheimer Asset Management Inc. acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,568 shares of the biotechnology company’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Belpointe Asset Management LLC purchased a new stake in shares of Exelixis during the first quarter worth approximately $572,000. Envestnet Asset Management Inc. increased its position in shares of Exelixis by 23.9% during the first quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company’s stock worth $9,159,000 after purchasing an additional 47,845 shares in the last quarter. Fortis Capital Advisors LLC purchased a new stake in shares of Exelixis during the first quarter worth approximately $572,000. D.A. Davidson & CO. purchased a new stake in shares of Exelixis during the second quarter worth approximately $212,000. Finally, Intech Investment Management LLC increased its position in shares of Exelixis by 46.4% during the first quarter. Intech Investment Management LLC now owns 392,022 shares of the biotechnology company’s stock worth $14,473,000 after purchasing an additional 124,297 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on EXEL shares. Truist Financial dropped their price target on Exelixis from $56.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. Morgan Stanley dropped their price target on Exelixis from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. Guggenheim reiterated a “buy” rating and set a $45.00 price target on shares of Exelixis in a research report on Tuesday, July 29th. Leerink Partners upgraded Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research report on Tuesday, October 21st. Finally, HC Wainwright dropped their price target on Exelixis from $53.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.53.

Exelixis Stock Down 0.7%

Shares of NASDAQ:EXEL opened at $38.67 on Monday. The business has a fifty day moving average of $38.81 and a two-hundred day moving average of $40.28. The stock has a market cap of $10.41 billion, a P/E ratio of 18.59, a PEG ratio of 0.79 and a beta of 0.38. Exelixis, Inc. has a 52-week low of $31.90 and a 52-week high of $49.62.

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.