Meritage Portfolio Management Has $10.14 Million Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Meritage Portfolio Management grew its position in Exelixis, Inc. (NASDAQ:EXEL) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 422,676 shares of the biotechnology company’s stock after acquiring an additional 27,815 shares during the period. Meritage Portfolio Management owned about 0.14% of Exelixis worth $10,140,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Alaska Permanent Fund Corp increased its holdings in shares of Exelixis by 1.5% during the third quarter. Alaska Permanent Fund Corp now owns 40,855 shares of the biotechnology company’s stock worth $893,000 after purchasing an additional 596 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Exelixis by 44.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,970 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 604 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Exelixis by 17.1% during the third quarter. Signaturefd LLC now owns 4,577 shares of the biotechnology company’s stock worth $100,000 after purchasing an additional 668 shares during the last quarter. Treasurer of the State of North Carolina increased its position in Exelixis by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 145,343 shares of the biotechnology company’s stock valued at $3,176,000 after acquiring an additional 738 shares during the period. Finally, Jennison Associates LLC increased its holdings in Exelixis by 0.5% in the fourth quarter. Jennison Associates LLC now owns 164,200 shares of the biotechnology company’s stock valued at $3,939,000 after purchasing an additional 815 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Alan M. Garber sold 19,205 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the sale, the director now directly owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Alan M. Garber sold 19,205 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the sale, the director now directly owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 47,020 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.45, for a total value of $1,008,579.00. Following the transaction, the executive vice president now directly owns 384,866 shares of the company’s stock, valued at approximately $8,255,375.70. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EXEL shares. JMP Securities reissued a “market outperform” rating and set a $27.00 target price on shares of Exelixis in a research note on Wednesday, April 10th. Barclays cut shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a report on Thursday, April 11th. Royal Bank of Canada lifted their target price on Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Stifel Nicolaus upped their price target on Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Exelixis in a report on Friday, January 26th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Exelixis has an average rating of “Moderate Buy” and an average price target of $26.29.

Exelixis Trading Up 0.8 %

Shares of NASDAQ:EXEL traded up $0.18 on Friday, reaching $23.71. 755,545 shares of the company traded hands, compared to its average volume of 2,245,552. The stock has a market capitalization of $6.99 billion, a P/E ratio of 36.77, a price-to-earnings-growth ratio of 0.63 and a beta of 0.54. The business’s 50-day simple moving average is $22.73 and its 200 day simple moving average is $22.17. Exelixis, Inc. has a 52 week low of $18.08 and a 52 week high of $24.34.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. Exelixis had a return on equity of 8.57% and a net margin of 11.35%. The firm had revenue of $479.65 million during the quarter, compared to the consensus estimate of $481.23 million. Sell-side analysts expect that Exelixis, Inc. will post 1.21 EPS for the current fiscal year.

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.