Fmr LLC Raises Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Fmr LLC grew its position in Exelixis, Inc. (NASDAQ:EXEL) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,462,072 shares of the biotechnology company’s stock after buying an additional 140,568 shares during the period. Fmr LLC owned 0.86% of Exelixis worth $63,891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in EXEL. V Square Quantitative Management LLC purchased a new stake in Exelixis in the 3rd quarter valued at about $30,000. GAMMA Investing LLC lifted its holdings in shares of Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 1,041 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Exelixis in the 3rd quarter worth approximately $61,000. Essex Investment Management Co. LLC purchased a new position in shares of Exelixis during the 3rd quarter worth approximately $74,000. Finally, Farther Finance Advisors LLC increased its holdings in Exelixis by 467.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,940 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 3,246 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity at Exelixis

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the sale, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.39, for a total value of $709,750.00. Following the completion of the sale, the executive vice president now directly owns 580,325 shares of the company’s stock, valued at $16,475,426.75. The trade was a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 339,736 shares of company stock valued at $11,508,610 over the last ninety days. Insiders own 2.85% of the company’s stock.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $35.82 on Friday. The stock’s 50-day simple moving average is $31.77 and its 200-day simple moving average is $26.59. The firm has a market capitalization of $10.23 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. Exelixis, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $36.97.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. On average, sell-side analysts forecast that Exelixis, Inc. will post 1.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EXEL shares. Royal Bank of Canada restated an “outperform” rating and set a $34.00 price target on shares of Exelixis in a research report on Wednesday, October 30th. Morgan Stanley boosted their price target on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. JMP Securities reissued a “market outperform” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th. Bank of America upped their target price on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.44.

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.