Ieq Capital LLC Makes New $24.58 Million Investment in Exelixis, Inc. $EXEL

Ieq Capital LLC purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 451,768 shares of the biotechnology company’s stock, valued at approximately $24,581,000. Ieq Capital LLC owned approximately 0.18% of Exelixis at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of EXEL. BlackRock Inc. purchased a new stake in shares of Exelixis during the 2nd quarter worth $1,581,991,000. AQR Capital Management LLC lifted its stake in shares of Exelixis by 48.8% in the fourth quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock valued at $598,647,000 after purchasing an additional 4,477,029 shares during the period. Norges Bank acquired a new stake in shares of Exelixis in the fourth quarter valued at about $106,460,000. Bank of New York Mellon Corp purchased a new stake in Exelixis during the second quarter worth about $107,803,000. Finally, UBS Group AG grew its position in Exelixis by 100.1% during the third quarter. UBS Group AG now owns 2,655,069 shares of the biotechnology company’s stock worth $109,654,000 after buying an additional 1,328,087 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jack L. Wyszomierski sold 3,925 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $50.55, for a total value of $198,408.75. Following the sale, the director directly owned 284,384 shares of the company’s stock, valued at approximately $14,375,611.20. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sue Gail Eckhardt sold 9,812 shares of the business’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 transaction of $491,973.68. Following the completion of the sale, the director 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 67,000 shares of company stock worth $3,404,652 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

EXEL has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $56.00 price target on shares of Exelixis in a research report on Thursday, July 2nd. Morgan Stanley raised 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. Wall Street Zen cut Exelixis from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. TD Cowen boosted their target price on Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Citigroup restated a “market outperform” rating on shares of Exelixis in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $50.07.

Exelixis Stock Up 0.7%

Shares of NASDAQ:EXEL opened at $54.08 on Friday. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $57.57. The stock’s fifty day simple moving average is $54.26 and its 200-day simple moving average is $48.56. The company has a market capitalization of $13.40 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.60 and a beta of 0.44.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $628.69 million during the quarter, compared to analysts’ expectations of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. On average, sell-side analysts anticipate that Exelixis, Inc. will post 3.18 earnings per share for the current year.

Exelixis 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.