Strategic Investment Advisors MI Acquires 15,313 Shares of Exelixis, Inc. $EXEL

Strategic Investment Advisors MI increased its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 48.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,921 shares of the biotechnology company’s stock after buying an additional 15,313 shares during the period. Strategic Investment Advisors MI’s holdings in Exelixis were worth $2,012,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. AQR Capital Management LLC raised its holdings in Exelixis by 48.8% during 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 acquiring an additional 4,477,029 shares during the period. Invesco Ltd. lifted its position in shares of Exelixis by 1.6% during the fourth quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock worth $265,379,000 after acquiring an additional 94,218 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 worth $184,391,000 after acquiring an additional 39,920 shares during the period. Morgan Stanley boosted 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 worth $184,378,000 after acquiring an additional 995,949 shares during the period. Finally, UBS Group AG grew its position in shares of Exelixis by 40.2% in the fourth quarter. UBS Group AG now owns 3,722,334 shares of the biotechnology company’s stock valued at $163,150,000 after purchasing an additional 1,067,265 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Performance

Shares of EXEL stock opened at $55.27 on Thursday. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $57.57. The company has a market capitalization of $13.89 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 1.63 and a beta of 0.42. The business’s fifty day moving average is $53.54 and its 200 day moving average is $47.46.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EXEL shares. Morgan Stanley boosted their price objective on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. HC Wainwright restated a “buy” rating and issued a $56.00 target price on shares of Exelixis in a research note on Thursday, July 2nd. Royal Bank Of Canada lifted their target price on Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Citigroup reiterated a “market outperform” rating on shares of Exelixis in a research report on Wednesday, July 22nd. Finally, Stifel Nicolaus increased their price target on shares of Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Exelixis presently has a consensus rating of “Hold” and a consensus price target of $49.29.

Insider Activity

In other news, CFO Christopher J. Senner sold 34,901 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the completion of the transaction, the chief financial officer owned 952,317 shares of the company’s stock, valued at approximately $47,615,850. The trade was a 3.54% 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 the SEC website. Also, EVP Patrick J. Haley sold 32,110 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the transaction, the executive vice president owned 357,638 shares in the company, valued at approximately $17,813,948.78. This trade represents a 8.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 219,170 shares of company stock worth $10,620,641. Company insiders own 2.60% of the company’s stock.

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.