Healthcare of Ontario Pension Plan Trust Fund Acquires 202,000 Shares of Exelixis, Inc. $EXEL

Healthcare of Ontario Pension Plan Trust Fund increased its position in Exelixis, Inc. (NASDAQ:EXEL) by 82.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 446,000 shares of the biotechnology company’s stock after acquiring an additional 202,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Exelixis were worth $19,548,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Anchor Investment Management LLC raised its holdings in Exelixis by 500.0% in the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 500 shares during the period. Acumen Wealth Advisors LLC bought a new position in Exelixis in the 4th quarter worth $29,000. Activest Wealth Management bought a new position in Exelixis in the 4th quarter worth $32,000. Northwestern Mutual Wealth Management Co. raised its holdings in Exelixis by 1,380.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 773 shares during the period. Finally, V Square Quantitative Management LLC bought a new position in Exelixis in the 4th quarter worth $44,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Price Performance

NASDAQ EXEL opened at $53.00 on Tuesday. The firm has a market capitalization of $13.32 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 1.53 and a beta of 0.41. The company’s fifty day moving average is $48.16 and its two-hundred day moving average is $44.98. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $53.93.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.12. The company had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $0.55 EPS. As a group, sell-side analysts expect that Exelixis, Inc. will post 3.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In other news, Director Jack L. Wyszomierski sold 3,925 shares of Exelixis stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $50.55, for a total transaction of $198,408.75. Following the sale, the director directly owned 284,384 shares in the company, valued at approximately $14,375,611.20. The trade was a 1.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Dana Aftab sold 43,451 shares of Exelixis stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the sale, the executive vice president owned 594,741 shares in the company, valued at approximately $29,945,209.35. This trade represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 219,170 shares of company stock worth $10,620,641 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a report on Tuesday, May 19th. Barclays lifted their target price on shares of Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, April 20th. Wall Street Zen upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. TD Cowen lifted their target price on shares of Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Truist Financial upgraded shares of Exelixis to a “strong-buy” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.35.

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.