Frontier Capital Management Co. LLC Grows Holdings in Exelixis, Inc. (EXEL)

Frontier Capital Management Co. LLC raised its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 350.9% in the 1st quarter, Holdings Channel reports. The firm owned 2,822,208 shares of the biotechnology company’s stock after buying an additional 2,196,279 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Exelixis were worth $67,169,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. FTB Advisors Inc. raised its stake in shares of Exelixis by 312.0% in the fourth quarter. FTB Advisors Inc. now owns 1,545 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 1,170 shares during the period. JOYN Advisors Inc. raised its stake in shares of Exelixis by 334.2% in the fourth quarter. JOYN Advisors Inc. now owns 1,524 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 1,173 shares during the period. Cornerstone Advisors Inc. purchased a new stake in shares of Exelixis in the fourth quarter valued at $38,000. Financial Gravity Companies Inc. purchased a new stake in shares of Exelixis in the fourth quarter valued at $50,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Exelixis in the fourth quarter valued at $59,000. Institutional investors and hedge funds own 76.73% of the company’s stock.

Several equities research analysts have recently weighed in on EXEL shares. Cowen reissued a “buy” rating and issued a $29.00 target price on shares of Exelixis in a research note on Tuesday, February 26th. BidaskClub raised shares of Exelixis from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. Oppenheimer reissued a “buy” rating on shares of Exelixis in a research note on Tuesday, March 19th. Morgan Stanley raised shares of Exelixis from an “underweight” rating to an “equal weight” rating and set a $24.80 target price on the stock in a research note on Monday, March 18th. Finally, ValuEngine raised shares of Exelixis from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.11.

In related news, Director Lance Willsey sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $20.36, for a total value of $1,018,000.00. Following the transaction, the director now owns 368,273 shares of the company’s stock, valued at approximately $7,498,038.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director George A. Scangos sold 40,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $19.84, for a total transaction of $793,600.00. Following the completion of the transaction, the director now directly owns 1,248,031 shares in the company, valued at approximately $24,760,935.04. The disclosure for this sale can be found here. Insiders sold a total of 941,862 shares of company stock worth $21,143,292 in the last ninety days. 4.50% of the stock is currently owned by insiders.

EXEL stock opened at $19.79 on Friday. The stock has a market capitalization of $5.97 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.39 and a beta of 2.06. Exelixis, Inc. has a 12 month low of $13.42 and a 12 month high of $25.31. The company has a current ratio of 7.56, a quick ratio of 7.48 and a debt-to-equity ratio of 0.01.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.24 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. The company had revenue of $215.49 million for the quarter, compared to the consensus estimate of $206.06 million. Exelixis had a net margin of 75.97% and a return on equity of 37.21%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. On average, equities research analysts expect that Exelixis, Inc. will post 1.09 EPS for the current fiscal year.

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Exelixis Profile

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. 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.

See Also: Initial Public Offering (IPO)

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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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