Verition Fund Management LLC Purchases New Position in Exelixis, Inc. (EXEL)

Verition Fund Management LLC purchased a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,197 shares of the biotechnology company’s stock, valued at approximately $473,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Quadrant L P CA purchased a new stake in Exelixis during the second quarter valued at about $144,000. Meeder Asset Management Inc. purchased a new stake in Exelixis in the first quarter valued at approximately $170,000. Wetherby Asset Management Inc. purchased a new stake in Exelixis in the second quarter valued at approximately $218,000. Caxton Associates LP purchased a new stake in Exelixis in the second quarter valued at approximately $227,000. Finally, Capstone Asset Management Co. purchased a new stake in Exelixis in the second quarter valued at approximately $242,000. Institutional investors own 78.40% of the company’s stock.

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Exelixis, Inc. (NASDAQ:EXEL) traded up 2.74% during midday trading on Friday, reaching $26.63. The company’s stock had a trading volume of 2,969,016 shares. Exelixis, Inc. has a 1-year low of $10.04 and a 1-year high of $32.50. The company has a 50 day moving average price of $26.15 and a 200 day moving average price of $24.29. The firm has a market cap of $7.83 billion, a price-to-earnings ratio of 134.49 and a beta of 1.91.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. The company had revenue of $99.01 million for the quarter, compared to analyst estimates of $85.27 million. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The firm’s revenue was up 173.1% compared to the same quarter last year. During the same period last year, the company posted ($0.15) earnings per share. On average, equities research analysts expect that Exelixis, Inc. will post $0.28 EPS for the current year.

A number of brokerages have commented on EXEL. TheStreet upgraded shares of Exelixis from a “c” rating to a “b-” rating in a research report on Monday, August 7th. William Blair reiterated an “outperform” rating on shares of Exelixis in a research report on Thursday, July 27th. Needham & Company LLC increased their price target on shares of Exelixis from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, October 17th. Cowen and Company reissued an “outperform” rating on shares of Exelixis in a research report on Thursday, August 10th. Finally, Zacks Investment Research raised Exelixis from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Wednesday, October 18th. Six research 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 company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $31.38.

In related news, EVP Jeffrey Hessekiel sold 27,302 shares of Exelixis stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $24.28, for a total value of $662,892.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gisela Schwab sold 100,000 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $23.79, for a total transaction of $2,379,000.00. The disclosure for this sale can be found here. Insiders sold 970,152 shares of company stock worth $25,923,457 in the last three months. 5.10% of the stock is currently owned by corporate 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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