Nationwide Fund Advisors boosted its stake in Exelixis Inc. (NASDAQ:EXEL) by 29.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 188,996 shares of the biotechnology company’s stock after buying an additional 42,878 shares during the period. Nationwide Fund Advisors owned approximately 0.08% of Exelixis worth $1,476,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new position in Exelixis during the second quarter valued at $1,254,000. Bank of Montreal Can bought a new position in Exelixis during the second quarter valued at $744,000. ING Groep NV bought a new position in Exelixis during the first quarter valued at $359,000. Bayesian Capital Management LP bought a new position in Exelixis during the first quarter valued at $212,000. Finally, Bellevue Group AG bought a new position in Exelixis during the first quarter valued at $680,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of Exelixis Inc. (NASDAQ:EXEL) opened at 11.51 on Tuesday. Exelixis Inc. has a one year low of $3.55 and a one year high of $15.58. The stock’s market capitalization is $2.65 billion. The firm has a 50 day moving average price of $12.76 and a 200 day moving average price of $8.61.
Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.11. The firm earned $36.25 million during the quarter, compared to analysts’ expectations of $16.76 million. The business’s revenue was up 353.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.22) EPS. Analysts predict that Exelixis Inc. will post ($0.61) earnings per share for the current fiscal year.
Several equities analysts have commented on the company. Leerink Swann reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Exelixis in a research report on Thursday, August 18th. Stifel Nicolaus upped their price objective on Exelixis from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Cowen and Company reaffirmed an “outperform” rating on shares of Exelixis in a research report on Wednesday, October 12th. Zacks Investment Research raised Exelixis from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Tuesday, September 13th. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $8.00 price objective (up previously from $5.00) on shares of Exelixis in a research report on Thursday, August 4th. Six research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $13.51.
In related news, insider Gisela Schwab sold 42,338 shares of Exelixis stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $11.00, for a total transaction of $465,718.00. Following the transaction, the insider now owns 174,354 shares in the company, valued at $1,917,894. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.90% of the company’s stock.
Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. It focuses on the development and commercialization of cabozantinib, an inhibitor of multiple receptor tyrosine kinases, in various tumor indications. Cabozantinib is indicated for the treatment of progressive, metastatic medullary thyroid cancer, and is sold under the brand name COMETRIQ.
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