Mirae Asset Global Investments Co. Ltd. Has $322,000 Position in Exelixis, Inc. (NASDAQ:EXEL)

Mirae Asset Global Investments Co. Ltd. lessened its position in Exelixis, Inc. (NASDAQ:EXEL) by 7.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,516 shares of the biotechnology company’s stock after selling 801 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Exelixis were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Paragon Capital Management Inc. acquired a new stake in shares of Exelixis in the fourth quarter valued at approximately $1,642,000. Longboard Asset Management LP acquired a new stake in Exelixis during the 4th quarter valued at $245,000. Spire Wealth Management boosted its position in Exelixis by 49.9% during the fourth quarter. Spire Wealth Management now owns 9,010 shares of the biotechnology company’s stock worth $300,000 after purchasing an additional 3,000 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Exelixis by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 60,553 shares of the biotechnology company’s stock valued at $2,016,000 after purchasing an additional 5,690 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in shares of Exelixis in the fourth quarter valued at about $247,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Stock Up 5.2 %

Shares of Exelixis stock opened at $34.49 on Friday. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of 0.63 and a beta of 0.53. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $37.59. The company’s fifty day moving average is $34.21 and its 200 day moving average is $30.75.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 22.43% and a return on equity of 20.99%. As a group, equities analysts anticipate that Exelixis, Inc. will post 1.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EXEL shares. Morgan Stanley upgraded Exelixis from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $30.00 to $40.00 in a report on Monday, January 27th. Guggenheim restated a “buy” rating and issued a $42.00 price target on shares of Exelixis in a research note on Wednesday. UBS Group raised their price target on shares of Exelixis from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Stephens restated an “equal weight” rating and set a $29.00 price objective on shares of Exelixis in a research note on Wednesday. Finally, HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of Exelixis in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.24.

Insider Transactions at Exelixis

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the transaction, the executive vice president now owns 278,665 shares of the company’s stock, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,588 shares of company stock valued at $3,981,864 in the last quarter. 2.85% of the stock is currently owned by company insiders.

About Exelixis

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.