Allen Investment Management LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,945 shares of the biotechnology company’s stock, valued at approximately $314,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of EXEL. Legal & General Group Plc grew its position in shares of Exelixis by 1.3% during the 1st quarter. Legal & General Group Plc now owns 84,763 shares of the biotechnology company’s stock worth $1,834,000 after buying an additional 1,078 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Exelixis by 11.4% during the first quarter. Dimensional Fund Advisors LP now owns 591,901 shares of the biotechnology company’s stock valued at $12,826,000 after purchasing an additional 60,548 shares in the last quarter. Bank of America Corp DE boosted its position in Exelixis by 428.4% during the first quarter. Bank of America Corp DE now owns 132,505 shares of the biotechnology company’s stock valued at $2,871,000 after purchasing an additional 172,854 shares in the last quarter. Capstone Asset Management Co. bought a new stake in Exelixis during the second quarter valued at about $242,000. Finally, Meeder Asset Management Inc. boosted its position in Exelixis by 26.6% during the second quarter. Meeder Asset Management Inc. now owns 9,957 shares of the biotechnology company’s stock valued at $245,000 after purchasing an additional 2,091 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $26.00 price objective on shares of Exelixis in a research report on Tuesday, October 17th. Royal Bank Of Canada raised their price objective 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 raised their price objective 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 price objective on the stock in a research report on Wednesday, October 18th. Finally, Leerink Swann downgraded Exelixis from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $34.00 to $28.00 in a research report on Friday, September 22nd. Six 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 presently has a consensus rating of “Buy” and a consensus price target of $31.38.
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In other news, CFO Christopher J. Senner sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.79, for a total value of $2,679,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stelios Papadopoulos sold 200,000 shares of the firm’s stock in a transaction dated 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 three months, insiders sold 970,152 shares of company stock valued at $25,923,457. Corporate insiders own 5.10% of the company’s stock.
Shares of Exelixis, Inc. (EXEL) traded down $0.36 during midday trading on Thursday, reaching $24.75. The company’s stock had a trading volume of 2,792,200 shares, compared to its average volume of 4,229,964. The firm has a market capitalization of $7,320.00, a P/E ratio of 49.24, a PEG ratio of 1.13 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 issued its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.18. The business had revenue of $152.50 million during the quarter, compared to the consensus estimate of $104.91 million. Exelixis had a return on equity of 105.47% and a net margin of 36.80%. The company’s quarterly revenue was up 145.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) earnings per share. equities analysts anticipate that Exelixis, Inc. will post 0.49 earnings per share for the current fiscal year.
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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