Meeder Asset Management Inc. Has $386,000 Position in Exelixis, Inc. (EXEL)

Meeder Asset Management Inc. grew its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 59.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,917 shares of the biotechnology company’s stock after purchasing an additional 5,960 shares during the quarter. Meeder Asset Management Inc.’s holdings in Exelixis were worth $386,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. First Quadrant L P CA acquired a new stake in Exelixis in the 2nd quarter valued at $144,000. Fisher Asset Management LLC acquired a new stake in Exelixis in the 3rd quarter valued at $213,000. Wetherby Asset Management Inc. acquired a new stake in Exelixis in the 2nd quarter valued at $218,000. Caxton Associates LP acquired a new stake in Exelixis in the 2nd quarter valued at $227,000. Finally, Capstone Asset Management Co. acquired a new stake in Exelixis in the 2nd quarter valued at $242,000. Institutional investors and hedge funds own 79.03% of the company’s stock.

Exelixis, Inc. (NASDAQ EXEL) traded up $0.10 during midday trading on Friday, hitting $25.85. 2,050,200 shares of the company were exchanged, compared to its average volume of 5,064,375. The firm has a market capitalization of $7,647.80, a price-to-earnings ratio of 50.69, a PEG ratio of 1.25 and a beta of 1.89. Exelixis, Inc. has a fifty-two week low of $14.22 and a fifty-two week high of $32.50.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.18. The firm had revenue of $152.50 million for the quarter, compared to analyst estimates of $104.91 million. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. The firm’s quarterly revenue was up 145.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) earnings per share. analysts anticipate that Exelixis, Inc. will post 0.45 earnings per share for the current fiscal year.

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Several analysts recently issued reports on the company. TheStreet raised shares of Exelixis from a “c+” rating to a “b-” rating in a research report on Wednesday, October 18th. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Wednesday, October 18th. Needham & Company LLC increased their price target on shares of Exelixis from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Royal Bank Of Canada increased their price target on shares of Exelixis from $33.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $26.00 price target on shares of Exelixis in a research report on Tuesday, October 17th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $31.38.

In related news, insider Gisela Schwab sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $23.79, for a total value of $2,379,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Patrick J. Haley sold 60,640 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $27.21, for a total transaction of $1,650,014.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 970,152 shares of company stock worth $25,923,457. 5.10% of the stock is currently owned by company insiders.

About Exelixis

Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.

Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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