Y Intercept Hong Kong Ltd Acquires Shares of 42,984 Exelixis, Inc. $EXEL

Y Intercept Hong Kong Ltd bought a new position in Exelixis, Inc. (NASDAQ:EXEL) during the third quarter, Holdings Channel.com reports. The firm bought 42,984 shares of the biotechnology company’s stock, valued at approximately $1,775,000.

Several other hedge funds and other institutional investors have also bought and sold shares of EXEL. Norges Bank bought a new position in Exelixis in the 2nd quarter valued at $122,099,000. Qube Research & Technologies Ltd grew its position in Exelixis by 120.5% during the second quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock valued at $134,306,000 after buying an additional 1,665,110 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Exelixis by 42.9% during 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 during the last quarter. Prudential Financial Inc. increased its holdings in Exelixis by 776.8% during the second quarter. Prudential Financial Inc. now owns 1,468,865 shares of the biotechnology company’s stock worth $64,740,000 after buying an additional 1,301,330 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Exelixis by 38.2% in the second quarter. Bank of America Corp DE now owns 2,638,666 shares of the biotechnology company’s stock worth $116,299,000 after acquiring an additional 728,956 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

EXEL has been the subject of a number of research reports. Morgan Stanley reissued an “equal weight” rating and set a $48.00 target price (up from $45.00) on shares of Exelixis in a research report on Thursday, January 8th. Barclays upped their price target on Exelixis from $40.00 to $41.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Guggenheim lowered Exelixis from a “buy” rating to a “neutral” rating in a report on Monday, November 3rd. Leerink Partners upgraded Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research note on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a research report on Thursday, January 22nd. Eleven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Exelixis presently has an average rating of “Hold” and a consensus target price of $45.95.

Insider Activity at Exelixis

In related news, Director Stelios Papadopoulos sold 100,000 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $43.55, for a total value of $4,355,000.00. Following the transaction, the director owned 1,189,228 shares of the company’s stock, valued at $51,790,879.40. This represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dana Aftab sold 48,383 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total value of $2,056,277.50. Following the sale, the executive vice president owned 664,778 shares in the company, valued at $28,253,065. The trade was a 6.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 245,235 shares of company stock worth $10,490,600 in the last 90 days. 2.82% of the stock is currently owned by corporate insiders.

Exelixis Stock Performance

Shares of EXEL stock opened at $42.28 on Friday. Exelixis, Inc. has a 52-week low of $32.38 and a 52-week high of $49.62. The business’s fifty day moving average is $43.78 and its 200 day moving average is $41.09. The company has a market capitalization of $11.34 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 0.77 and a beta of 0.40.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.The firm had revenue of $597.76 million during the quarter, compared to the consensus estimate of $590.04 million. During the same quarter last year, the company posted $0.47 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Exelixis Company Profile

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.