OMERS ADMINISTRATION Corp Purchases 18,800 Shares of Exelixis, Inc. $EXEL

OMERS ADMINISTRATION Corp grew its position in Exelixis, Inc. (NASDAQ:EXEL) by 27.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,362 shares of the biotechnology company’s stock after purchasing an additional 18,800 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Exelixis were worth $3,790,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in Exelixis by 48.8% in the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock valued at $598,647,000 after buying an additional 4,477,029 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Exelixis by 1.6% in the 4th quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock worth $265,379,000 after buying an additional 94,218 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Exelixis by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock valued at $184,391,000 after acquiring an additional 39,920 shares in the last quarter. Morgan Stanley grew its holdings in shares of Exelixis by 31.0% in the fourth quarter. Morgan Stanley now owns 4,206,656 shares of the biotechnology company’s stock valued at $184,378,000 after acquiring an additional 995,949 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Exelixis by 40.2% during the fourth quarter. UBS Group AG now owns 3,722,334 shares of the biotechnology company’s stock valued at $163,150,000 after acquiring an additional 1,067,265 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial lifted their price target on Exelixis from $54.00 to $56.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. HC Wainwright reaffirmed a “buy” rating and set a $56.00 target price on shares of Exelixis in a research report on Thursday, July 2nd. Stifel Nicolaus lifted their target price on Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Royal Bank Of Canada increased their price target on shares of Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $49.00.

Exelixis Stock Up 0.8%

NASDAQ EXEL opened at $55.81 on Tuesday. The firm has a market cap of $14.03 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 1.60 and a beta of 0.42. The company’s 50 day moving average is $53.28 and its 200-day moving average is $47.31. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. During the same period last year, the company earned $0.55 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts expect that Exelixis, Inc. will post 3.15 EPS for the current year.

Insider Transactions at Exelixis

In other news, Director Sue Gail Eckhardt sold 9,812 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $50.14, for a total value of $491,973.68. Following the completion of the transaction, the director directly owned 16,079 shares in the company, valued at approximately $806,201.06. This trade represents a 37.90% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick J. Haley sold 32,110 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the transaction, the executive vice president directly owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. This represents a 8.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 219,170 shares of company stock valued at $10,620,641. Company insiders own 2.60% of the company’s stock.

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.