Strategic Investment Advisors MI Grows Stake in Exelixis, Inc. $EXEL

Strategic Investment Advisors MI grew its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 486.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 33,343 shares of the biotechnology company’s stock after acquiring an additional 27,659 shares during the period. Strategic Investment Advisors MI’s holdings in Exelixis were worth $1,377,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EXEL. Farallon Capital Management LLC grew its position in Exelixis by 21.6% during the 3rd quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock valued at $805,412,000 after purchasing an additional 3,466,000 shares during the last quarter. AQR Capital Management LLC increased its stake in Exelixis by 20.7% during the 3rd quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock valued at $379,190,000 after purchasing an additional 1,575,280 shares in the last quarter. Invesco Ltd. raised its holdings in Exelixis by 7.1% in the third quarter. Invesco Ltd. now owns 5,960,525 shares of the biotechnology company’s stock worth $246,170,000 after buying an additional 394,897 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Exelixis by 42.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock worth $231,951,000 after buying an additional 1,580,567 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Exelixis by 11.2% in the third quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock worth $172,658,000 after buying an additional 419,596 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Transactions at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 67,814 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $43.52, for a total value of $2,951,265.28. Following the transaction, the executive vice president owned 381,908 shares of the company’s stock, valued at approximately $16,620,636.16. This represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack L. Wyszomierski sold 99,574 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total value of $4,382,251.74. Following the completion of the transaction, the director directly owned 279,942 shares in the company, valued at approximately $12,320,247.42. This represents a 26.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 362,849 shares of company stock worth $15,917,463. Company insiders own 2.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on EXEL. Royal Bank Of Canada reduced their price target on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Barclays upped their price objective on Exelixis from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 4th. UBS Group set a $41.00 target price on Exelixis in a report on Monday, January 5th. Wells Fargo & Company boosted their price target on Exelixis from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 11th. Finally, Zacks Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Ten research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.94.

Exelixis Stock Down 1.4%

EXEL opened at $41.26 on Thursday. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 0.94 and a beta of 0.41. The firm has a 50 day moving average price of $43.15 and a 200-day moving average price of $41.76. Exelixis, Inc. has a twelve month low of $32.38 and a twelve month high of $49.62.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.20. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The company had revenue of $598.66 million for the quarter, compared to analysts’ expectations of $609.17 million. During the same quarter last year, the company posted $0.55 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current year.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.