Brooklyn Investment Group Buys Shares of 1,635 Exelixis, Inc. (NASDAQ:EXEL)

Brooklyn Investment Group bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the third quarter, Holdings Channel.com reports. The institutional investor bought 1,635 shares of the biotechnology company’s stock, valued at approximately $42,000.

Other large investors also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in Exelixis during the third quarter worth about $30,000. Park Place Capital Corp purchased a new stake in Exelixis during the second quarter worth about $45,000. GAMMA Investing LLC increased its stake in Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,041 shares during the period. Capital Performance Advisors LLP purchased a new stake in Exelixis during the third quarter worth about $61,000. Finally, Essex Investment Management Co. LLC purchased a new stake in Exelixis during the third quarter worth about $74,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Stock Up 1.5 %

Shares of Exelixis stock opened at $36.46 on Friday. The firm has a market capitalization of $10.41 billion, a P/E ratio of 23.59, a P/E/G ratio of 0.90 and a beta of 0.51. Exelixis, Inc. has a 52 week low of $19.20 and a 52 week high of $36.97. The firm’s 50 day moving average is $30.62 and its two-hundred day moving average is $25.97.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The business had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. As a group, research analysts expect that Exelixis, Inc. will post 1.69 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the sale, the executive vice president now directly owns 278,665 shares of the company’s stock, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dana Aftab sold 96,986 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total value of $3,394,510.00. Following the sale, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at approximately $17,463,075. This represents a 16.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 279,736 shares of company stock valued at $9,308,410. 2.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Truist Financial boosted their price target on shares of Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Bank of America boosted their price target on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Stephens upped their target price on shares of Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, JMP Securities restated a “market outperform” rating and set a $29.00 target price on shares of Exelixis in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.44.

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.