Alps Advisors Inc. increased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 55.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,870 shares of the biotechnology company’s stock after purchasing an additional 10,355 shares during the period. Alps Advisors Inc.’s holdings in Exelixis were worth $512,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. James Investment Research Inc. bought a new stake in shares of Exelixis during the 2nd quarter valued at $133,000. Polaris Greystone Financial Group LLC bought a new stake in Exelixis in the 3rd quarter valued at $177,000. Fox Run Management L.L.C. bought a new stake in Exelixis in the 3rd quarter valued at $183,000. Advisors Asset Management Inc. increased its holdings in Exelixis by 94.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 41,168 shares of the biotechnology company’s stock valued at $213,000 after acquiring an additional 20,025 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in Exelixis in the 2nd quarter valued at $217,000. Hedge funds and other institutional investors own 81.84% of the company’s stock.
In other news, Director Vincent T. Marchesi sold 40,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $19.50, for a total value of $780,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Morrissey sold 234,267 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $21.04, for a total transaction of $4,928,977.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 535,767 shares of company stock valued at $10,228,738. Company insiders own 4.80% of the company’s stock.
Shares of NASDAQ:EXEL opened at $17.81 on Tuesday. Exelixis, Inc. has a 52 week low of $13.42 and a 52 week high of $32.20. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 34.92 and a beta of 2.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.66 and a quick ratio of 8.54.
Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Thursday, November 1st. The biotechnology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.22. The firm had revenue of $225.40 million during the quarter, compared to analysts’ expectations of $174.14 million. Exelixis had a net margin of 49.53% and a return on equity of 55.71%. The firm’s revenue for the quarter was up 47.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 EPS. As a group, research analysts expect that Exelixis, Inc. will post 1.03 EPS for the current fiscal year.
A number of analysts have issued reports on EXEL shares. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a report on Tuesday, July 31st. Stifel Nicolaus reduced their price target on shares of Exelixis from $29.00 to $25.00 and set a “hold” rating on the stock in a report on Wednesday, August 1st. BidaskClub downgraded shares of Exelixis from a “sell” rating to a “strong sell” rating in a report on Saturday, August 11th. Morgan Stanley started coverage on shares of Exelixis in a report on Monday, September 10th. They issued an “underweight” rating and a $19.00 price target on the stock. Finally, Goldman Sachs Group started coverage on shares of Exelixis in a report on Monday, September 17th. They issued a “neutral” rating and a $22.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $29.44.
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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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