Janney Montgomery Scott LLC raised its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 31.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,220 shares of the biotechnology company’s stock after purchasing an additional 4,095 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Exelixis were worth $371,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. James Investment Research Inc. purchased a new stake in shares of Exelixis in the 2nd quarter valued at $133,000. TLP Group LLC purchased a new stake in shares of Exelixis in the 1st quarter valued at $179,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Exelixis in the 1st quarter valued at $215,000. Washington Trust Bank purchased a new stake in shares of Exelixis in the 2nd quarter valued at $213,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Exelixis by 83.4% in the 1st quarter. Meeder Asset Management Inc. now owns 9,887 shares of the biotechnology company’s stock valued at $218,000 after acquiring an additional 4,495 shares during the last quarter. Institutional investors and hedge funds own 77.56% of the company’s stock.
Shares of NASDAQ EXEL opened at $19.20 on Monday. Exelixis, Inc. has a 1 year low of $18.50 and a 1 year high of $32.50. The firm has a market cap of $6.08 billion, a P/E ratio of 37.65 and a beta of 2.02.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, August 1st. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.12. Exelixis had a net margin of 48.17% and a return on equity of 65.68%. The firm had revenue of $186.10 million for the quarter, compared to the consensus estimate of $157.37 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The firm’s quarterly revenue was up 88.0% compared to the same quarter last year. analysts anticipate that Exelixis, Inc. will post 1.03 EPS for the current fiscal year.
Several analysts have recently commented on EXEL shares. Zacks Investment Research raised shares of Exelixis from a “sell” rating to a “hold” rating in a report on Monday, April 30th. Stifel Nicolaus dropped their price objective on shares of Exelixis from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Thursday, May 3rd. Piper Jaffray Companies dropped their price objective on shares of Exelixis from $33.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, May 10th. ValuEngine downgraded shares of Exelixis from a “sell” rating to a “strong sell” rating in a report on Friday, May 11th. Finally, Needham & Company LLC dropped their price objective on shares of Exelixis from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, May 11th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $32.67.
In related news, Director Carl B. Feldbaum sold 34,262 shares of the stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $20.60, for a total transaction of $705,797.20. Following the sale, the director now directly owns 45,983 shares of the company’s stock, valued at $947,249.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vincent T. Marchesi sold 40,000 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $19.50, for a total transaction of $780,000.00. The disclosure for this sale can be found here. Insiders have sold 863,390 shares of company stock worth $17,914,917 over the last three months. 4.80% of the stock is currently owned by insiders.
Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.
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