Oppenheimer & Co. Inc. Raises Position in Exelixis, Inc. (EXEL)
Oppenheimer & Co. Inc. increased its stake in Exelixis, Inc. (NASDAQ:EXEL) by 17.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,128 shares of the biotechnology company’s stock after purchasing an additional 2,129 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Exelixis were worth $348,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of EXEL. Vanguard Group Inc. raised its position in Exelixis by 12.8% in the first quarter. Vanguard Group Inc. now owns 23,735,071 shares of the biotechnology company’s stock worth $514,339,000 after acquiring an additional 2,696,877 shares during the period. Meditor Group Ltd raised its position in Exelixis by 5.5% in the second quarter. Meditor Group Ltd now owns 20,229,713 shares of the biotechnology company’s stock worth $498,258,000 after acquiring an additional 1,046,000 shares during the period. BlackRock Inc. raised its position in Exelixis by 33,678.5% in the first quarter. BlackRock Inc. now owns 19,155,466 shares of the biotechnology company’s stock worth $415,099,000 after acquiring an additional 19,098,757 shares during the period. State Street Corp raised its position in Exelixis by 2.1% in the first quarter. State Street Corp now owns 7,710,338 shares of the biotechnology company’s stock worth $167,087,000 after acquiring an additional 157,199 shares during the period. Finally, Jennison Associates LLC raised its position in Exelixis by 10.1% in the second quarter. Jennison Associates LLC now owns 2,873,349 shares of the biotechnology company’s stock worth $70,771,000 after acquiring an additional 263,135 shares during the period. Institutional investors own 79.20% of the company’s stock.
In related news, CFO Christopher J. Senner sold 100,000 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Patrick J. Haley sold 60,640 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $27.21, for a total transaction of $1,650,014.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 560,640 shares of company stock valued at $15,087,014. Company insiders own 5.10% of the company’s stock.
Shares of Exelixis, Inc. (EXEL) opened at 27.57 on Monday. Exelixis, Inc. has a 12 month low of $10.04 and a 12 month high of $29.50. The company has a market capitalization of $8.10 billion, a P/E ratio of 139.24 and a beta of 1.97. The stock’s 50 day moving average is $27.06 and its 200 day moving average is $23.39.
Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The firm had revenue of $99.01 million during the quarter, compared to analysts’ expectations of $85.27 million. During the same period in the previous year, the business posted ($0.15) EPS. The business’s revenue was up 173.1% compared to the same quarter last year. On average, equities analysts predict that Exelixis, Inc. will post $0.27 EPS for the current fiscal year.
Several research analysts have weighed in on the stock. BidaskClub upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. Royal Bank Of Canada assumed coverage on shares of Exelixis in a research report on Thursday. They issued an “outperform” rating and a $32.00 price target on the stock. TheStreet upgraded shares of Exelixis from a “c” rating to a “b-” rating in a research report on Monday, August 7th. Cowen and Company reiterated an “outperform” rating on shares of Exelixis in a research report on Thursday, August 10th. Finally, William Blair reiterated an “outperform” rating on shares of Exelixis in a research report on Thursday, July 27th. Five research 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. The company presently has an average rating of “Buy” and a consensus price target of $26.51.
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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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