Exelixis, Inc. (EXEL) Shares Bought by BB Biotech AG
BB Biotech AG lifted its stake in Exelixis, Inc. (NASDAQ:EXEL) by 162.7% in the third quarter, HoldingsChannel reports. The firm owned 2,785,000 shares of the biotechnology company’s stock after acquiring an additional 1,725,000 shares during the quarter. Exelixis comprises 1.3% of BB Biotech AG’s portfolio, making the stock its 24th largest holding. BB Biotech AG’s holdings in Exelixis were worth $49,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of EXEL. Globeflex Capital L P raised its position in Exelixis by 60.4% during the third quarter. Globeflex Capital L P now owns 55,254 shares of the biotechnology company’s stock valued at $979,000 after acquiring an additional 20,800 shares in the last quarter. American International Group Inc. raised its position in Exelixis by 8,466.5% during the third quarter. American International Group Inc. now owns 607,533 shares of the biotechnology company’s stock valued at $10,765,000 after acquiring an additional 600,441 shares in the last quarter. BlackRock Inc. raised its position in Exelixis by 3.8% during the third quarter. BlackRock Inc. now owns 30,094,004 shares of the biotechnology company’s stock valued at $533,265,000 after acquiring an additional 1,096,629 shares in the last quarter. Twin Tree Management LP acquired a new position in Exelixis during the third quarter valued at approximately $646,000. Finally, PNC Financial Services Group Inc. grew its holdings in Exelixis by 508.0% during the third quarter. PNC Financial Services Group Inc. now owns 24,519 shares of the biotechnology company’s stock valued at $436,000 after purchasing an additional 20,486 shares during the last quarter. 79.37% of the stock is owned by institutional investors and hedge funds.
EXEL has been the topic of several analyst reports. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a report on Tuesday, July 31st. Stifel Nicolaus lowered their price target on Exelixis from $29.00 to $25.00 and set a “hold” rating on the stock in a report on Wednesday, August 1st. BidaskClub downgraded Exelixis from a “sell” rating to a “strong sell” rating in a report on Saturday, August 11th. Morgan Stanley initiated coverage on Exelixis in a report on Monday, September 10th. They set an “underweight” rating and a $19.00 price target on the stock. Finally, Goldman Sachs Group initiated coverage on Exelixis in a report on Monday, September 17th. They set a “neutral” rating and a $22.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $29.44.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Thursday, November 1st. The biotechnology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.19 by $0.22. Exelixis had a return on equity of 55.71% and a net margin of 49.53%. The company had revenue of $225.40 million for the quarter, compared to the consensus estimate of $174.14 million. During the same quarter last year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 47.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Exelixis, Inc. will post 1.3 earnings per share for the current fiscal year.
In other news, Director George A. Scangos sold 25,000 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $17.86, for a total value of $446,500.00. Following the sale, the director now owns 1,536,981 shares in the company, valued at $27,450,480.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gisela Schwab sold 12,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $17.77, for a total transaction of $213,240.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,500 shares of company stock worth $3,692,860. 4.80% of the stock is currently owned by corporate insiders.
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Exelixis Company Profile
Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. 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.
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