Burney Co. Takes $12.27 Million Position in Exelixis, Inc. (NASDAQ:EXEL)

Burney Co. acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 368,373 shares of the biotechnology company’s stock, valued at approximately $12,267,000.

Several other large investors also recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in Exelixis during the 3rd quarter worth approximately $30,000. Brooklyn Investment Group bought a new stake in shares of Exelixis in the third quarter worth $42,000. Capital Performance Advisors LLP acquired a new stake in Exelixis in the third quarter valued at $61,000. Essex Investment Management Co. LLC acquired a new position in Exelixis during the 3rd quarter worth $74,000. Finally, GAMMA Investing LLC raised its stake in shares of Exelixis by 50.0% in the 3rd quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 1,004 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Price Performance

Shares of EXEL opened at $36.56 on Wednesday. Exelixis, Inc. has a 12-month low of $20.01 and a 12-month high of $36.97. The stock has a market capitalization of $10.44 billion, a P/E ratio of 23.44, a P/E/G ratio of 0.88 and a beta of 0.53. The firm’s 50 day moving average is $34.90 and its 200-day moving average is $28.99.

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. The company had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. As a group, equities research analysts forecast that Exelixis, Inc. will post 1.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EXEL shares. Truist Financial boosted their price objective on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a report on Wednesday, October 30th. Guggenheim lifted their price target on shares of Exelixis from $33.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. UBS Group started coverage on Exelixis in a research report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price target on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.75.

Insider Buying and Selling

In related news, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.39, for a total value of $709,750.00. Following the completion of the transaction, the executive vice president now owns 580,325 shares of the company’s stock, valued at approximately $16,475,426.75. This trade represents a 4.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dana Aftab sold 1,162 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the sale, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 314,736 shares of company stock valued at $10,849,110. 2.85% of the stock is owned by corporate insiders.

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.