Caisse de depot et placement du Quebec Purchases Shares of 2,094,299 Exelixis, Inc. $EXEL

Caisse de depot et placement du Quebec acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,094,299 shares of the biotechnology company’s stock, valued at approximately $113,951,000.

Other hedge funds have also recently made changes to their positions in the company. Motiv8 Investments LLC purchased a new position in Exelixis in the 4th quarter worth approximately $26,000. Cassaday & Co Wealth Management LLC purchased a new stake in Exelixis during the 1st quarter valued at approximately $27,000. Acumen Wealth Advisors LLC bought a new stake in shares of Exelixis during the fourth quarter valued at approximately $29,000. Western Wealth Management LLC bought a new stake in shares of Exelixis during the first quarter valued at approximately $29,000. Finally, Activest Wealth Management purchased a new position in shares of Exelixis in the fourth quarter worth $32,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

EXEL has been the subject of several research analyst reports. Citizens Jmp raised their target price on shares of Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research note on Wednesday, June 24th. Morgan Stanley boosted their price target on shares of Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. TD Cowen increased their price objective on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. UBS Group set a $55.00 price objective on Exelixis in a research report on Monday, August 3rd. Finally, Stifel Nicolaus lifted their target price on Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $50.07.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $56.10 on Thursday. The firm has a market capitalization of $13.90 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.69 and a beta of 0.44. The business has a 50 day simple moving average of $54.46 and a two-hundred day simple moving average of $48.88. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The firm had revenue of $628.69 million for the quarter, compared to the consensus estimate of $636.40 million. During the same period in the prior year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts expect that Exelixis, Inc. will post 3.18 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In other news, Director Sue Gail Eckhardt sold 9,812 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $50.14, for a total transaction of $491,973.68. Following the completion of the sale, the director directly owned 16,079 shares of the company’s stock, valued at approximately $806,201.06. The trade was a 37.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack L. Wyszomierski sold 3,925 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.55, for a total transaction of $198,408.75. Following the completion of the transaction, the director owned 284,384 shares in the company, valued at approximately $14,375,611.20. The trade was a 1.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,549 shares of company stock valued at $1,216,894 in the last quarter. 2.60% of the stock is owned by insiders.

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.