Victory Capital Management Inc. Grows Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Victory Capital Management Inc. raised its position in Exelixis, Inc. (NASDAQ:EXEL) by 16.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,178 shares of the biotechnology company’s stock after purchasing an additional 19,372 shares during the period. Victory Capital Management Inc.’s holdings in Exelixis were worth $3,534,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EXEL. Farallon Capital Management LLC increased its position in Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after purchasing an additional 424,000 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Exelixis by 0.4% in the second quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock valued at $340,714,000 after buying an additional 61,350 shares during the last quarter. LSV Asset Management increased its holdings in shares of Exelixis by 107.7% during the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after purchasing an additional 2,989,021 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Exelixis by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock valued at $115,434,000 after purchasing an additional 349,837 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Exelixis by 12.7% during the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after acquiring an additional 370,199 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Exelixis

In related news, EVP Dana Aftab sold 96,986 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total value of $3,394,510.00. Following the completion of the sale, the executive vice president now owns 498,945 shares in the company, valued at approximately $17,463,075. This represents a 16.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Patrick J. Haley sold 41,588 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.36, for a total value of $1,428,963.68. Following the completion of the sale, the executive vice president now owns 288,665 shares of the company’s stock, valued at $9,918,529.40. This represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 289,736 shares of company stock worth $9,471,510. 2.85% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EXEL. Oppenheimer reissued an “outperform” rating and issued a $29.00 price target on shares of Exelixis in a research note on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $34.00 price target on shares of Exelixis in a report on Wednesday, October 30th. HC Wainwright restated a “buy” rating and issued a $29.00 target price on shares of Exelixis in a report on Wednesday, September 18th. BMO Capital Markets lifted their price target on Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, UBS Group initiated coverage on Exelixis in a research report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.44.

Exelixis Stock Performance

Exelixis stock opened at $35.61 on Friday. The firm has a market cap of $10.17 billion, a P/E ratio of 22.83, a P/E/G ratio of 0.88 and a beta of 0.51. The business’s fifty day moving average is $29.90 and its two-hundred day moving average is $25.60. Exelixis, Inc. has a 52 week low of $19.20 and a 52 week high of $36.60.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities research analysts predict that Exelixis, Inc. will post 1.69 earnings per share for the current year.

Exelixis Profile

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.