Icon Advisers Inc. Co. purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 35,000 shares of the biotechnology company’s stock, valued at approximately $862,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. TIAA CREF Investment Management LLC boosted its stake in shares of Exelixis by 18.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,395,352 shares of the biotechnology company’s stock valued at $34,368,000 after purchasing an additional 221,118 shares in the last quarter. Seven Eight Capital LP boosted its stake in shares of Exelixis by 280.3% in the 2nd quarter. Seven Eight Capital LP now owns 48,987 shares of the biotechnology company’s stock valued at $1,207,000 after purchasing an additional 36,107 shares in the last quarter. Pittenger & Anderson Inc. acquired a new stake in shares of Exelixis in the 2nd quarter valued at approximately $246,000. Wells Fargo & Company MN boosted its stake in shares of Exelixis by 52.6% in the 2nd quarter. Wells Fargo & Company MN now owns 2,228,517 shares of the biotechnology company’s stock valued at $54,889,000 after purchasing an additional 768,323 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of Exelixis in the 2nd quarter valued at approximately $247,000. Institutional investors own 79.20% of the company’s stock.
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EXEL has been the topic of a number of research analyst reports. William Blair restated an “outperform” rating on shares of Exelixis in a research note on Friday, June 16th. Oppenheimer Holdings, Inc. started coverage on shares of Exelixis in a research note on Monday, June 12th. They issued a “hold” rating on the stock. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a report on Tuesday, July 11th. Cann reiterated a “hold” rating on shares of Exelixis in a report on Thursday, July 20th. Finally, BidaskClub upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Exelixis presently has an average rating of “Buy” and an average target price of $26.51.
In other news, insider Michael Morrissey sold 300,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $26.90, for a total transaction of $8,070,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Senner sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.79, for a total value of $2,679,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 560,640 shares of company stock valued at $15,087,014. 5.10% of the stock is owned by insiders.
Exelixis, Inc. (NASDAQ:EXEL) opened at 27.57 on Monday. The firm’s 50-day moving average is $27.06 and its 200 day moving average is $23.39. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 139.24 and a beta of 1.97. Exelixis, Inc. has a 12-month low of $10.04 and a 12-month high of $29.50.
Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The business had revenue of $99.01 million during the quarter, compared to analyst estimates of $85.27 million. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. Exelixis’s revenue for the quarter was up 173.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. On average, equities analysts expect that Exelixis, Inc. will post $0.27 earnings per share for the current fiscal year.
Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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