Old Mutual Global Investors UK Ltd. trimmed its position in Exelixis, Inc. (NASDAQ:EXEL) by 19.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,182,760 shares of the biotechnology company’s stock after selling 1,014,069 shares during the quarter. Old Mutual Global Investors UK Ltd. owned approximately 1.42% of Exelixis worth $101,348,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC boosted its position in Exelixis by 2.0% during the 2nd quarter. FMR LLC now owns 43,748,695 shares of the biotechnology company’s stock worth $1,077,530,000 after acquiring an additional 857,452 shares during the period. Vanguard Group Inc. boosted its position in Exelixis by 7.2% during the 2nd quarter. Vanguard Group Inc. now owns 25,441,964 shares of the biotechnology company’s stock worth $626,635,000 after acquiring an additional 1,706,893 shares during the period. Meditor Group Ltd boosted its position in Exelixis by 5.5% during the 2nd quarter. Meditor Group Ltd now owns 20,229,713 shares of the biotechnology company’s stock worth $498,258,000 after acquiring an additional 1,046,000 shares during the period. Matrix Capital Management Company LP boosted its position in Exelixis by 8.8% during the 2nd quarter. Matrix Capital Management Company LP now owns 15,117,460 shares of the biotechnology company’s stock worth $372,343,000 after acquiring an additional 1,225,000 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Exelixis by 13.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 7,059,232 shares of the biotechnology company’s stock worth $173,869,000 after acquiring an additional 818,782 shares during the period. Hedge funds and other institutional investors own 79.03% of the company’s stock.
Several equities research analysts have recently commented on the company. Stifel Nicolaus reissued a “hold” rating and set a $26.00 price target on shares of Exelixis in a research report on Tuesday, October 17th. Royal Bank Of Canada upped their price target on Exelixis from $33.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, October 17th. Needham & Company LLC upped their price target on Exelixis from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, October 17th. Zacks Investment Research raised Exelixis from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Wednesday, October 18th. Finally, Leerink Swann lowered Exelixis from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $34.00 to $28.00 in a research report on Friday, September 22nd. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $31.38.
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Exelixis, Inc. (EXEL) traded up $0.46 during mid-day trading on Monday, reaching $26.71. The company had a trading volume of 357,159 shares, compared to its average volume of 4,922,860. The stock has a market capitalization of $7,766.15, a price-to-earnings ratio of 51.47, a PEG ratio of 1.33 and a beta of 1.89.
Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share 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 return on equity of 105.47% and a net margin of 36.80%. The company’s revenue for the quarter was up 145.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) earnings per share. analysts anticipate that Exelixis, Inc. will post 0.43 earnings per share for the current year.
In other Exelixis news, EVP Jeffrey Hessekiel sold 27,302 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $24.28, for a total transaction of $662,892.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stelios Papadopoulos sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $27.68, for a total value of $5,536,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 970,152 shares of company stock worth $25,923,457. 5.10% of the stock is owned by company insiders.
Exelixis Company Profile
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.
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