Cibc World Market Inc. Grows Position in Exelixis, Inc. $EXEL

Cibc World Market Inc. increased its position in Exelixis, Inc. (NASDAQ:EXEL) by 462.3% in the fourth quarter, HoldingsChannel reports. The firm owned 38,904 shares of the biotechnology company’s stock after purchasing an additional 31,985 shares during the quarter. Cibc World Market Inc.’s holdings in Exelixis were worth $1,705,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BridgePort Financial Solutions LLC purchased a new position in shares of Exelixis in the 3rd quarter valued at approximately $517,000. Candriam S.C.A. lifted its stake in shares of Exelixis by 18.4% in the 3rd quarter. Candriam S.C.A. now owns 696,104 shares of the biotechnology company’s stock valued at $28,749,000 after purchasing an additional 108,367 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Exelixis by 11.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock valued at $172,658,000 after purchasing an additional 419,596 shares during the period. Illinois Municipal Retirement Fund lifted its stake in shares of Exelixis by 19.1% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 204,211 shares of the biotechnology company’s stock valued at $8,434,000 after purchasing an additional 32,737 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Exelixis by 62.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 187,154 shares of the biotechnology company’s stock valued at $8,224,000 after purchasing an additional 71,987 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on EXEL shares. Stifel Nicolaus lifted their price objective on Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Truist Financial upgraded Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a research note on Tuesday, May 19th. Morgan Stanley lifted their price objective on Exelixis from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, HC Wainwright lifted their price objective on Exelixis from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Exelixis presently has an average rating of “Hold” and an average target price of $47.35.

Insiders Place Their Bets

In other Exelixis news, CFO Christopher J. Senner sold 34,901 shares of Exelixis stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total value of $1,745,050.00. Following the completion of the sale, the chief financial officer owned 952,317 shares of the company’s stock, valued at approximately $47,615,850. This trade represents a 3.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dana Aftab sold 43,451 shares of Exelixis stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total value of $2,187,757.85. Following the completion of the sale, the executive vice president directly owned 594,741 shares of the company’s stock, valued at approximately $29,945,209.35. The trade was a 6.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 219,170 shares of company stock worth $10,620,641. 2.60% of the stock is owned by corporate insiders.

Exelixis Trading Up 2.4%

Shares of NASDAQ:EXEL opened at $52.99 on Wednesday. The stock has a fifty day simple moving average of $47.38 and a two-hundred day simple moving average of $44.68. The stock has a market capitalization of $13.32 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.49 and a beta of 0.41. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $53.28.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. The business had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 earnings per share. As a group, equities research analysts predict that Exelixis, Inc. will post 3.16 EPS 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.