Squarepoint Ops LLC Has $25.77 Million Stake in Exelixis, Inc. $EXEL

Squarepoint Ops LLC lifted its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 1,649.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 473,707 shares of the biotechnology company’s stock after purchasing an additional 446,635 shares during the period. Squarepoint Ops LLC owned 0.19% of Exelixis worth $25,774,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Motiv8 Investments LLC acquired a new stake in Exelixis during the fourth quarter worth about $26,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Exelixis in the 1st quarter worth approximately $27,000. Western Wealth Management LLC bought a new stake in shares of Exelixis in the 1st quarter worth approximately $29,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Exelixis during the 4th quarter worth approximately $29,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Exelixis by 1,380.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 773 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Stock Down 2.3%

Exelixis stock opened at $57.67 on Wednesday. The business’s 50-day simple moving average is $55.23 and its 200 day simple moving average is $49.74. The stock has a market cap of $14.29 billion, a price-to-earnings ratio of 18.14, a P/E/G ratio of 1.76 and a beta of 0.42. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $59.72.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The firm had revenue of $628.69 million during the quarter, compared to the consensus estimate of $636.40 million. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that Exelixis, Inc. will post 3.19 EPS for the current year.

Analyst Ratings Changes

EXEL has been the subject of a number of recent research reports. Barclays upped their target price on Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. Citizens Jmp boosted their price target on shares of Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a report on Wednesday, June 24th. Weiss Ratings upgraded shares of Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. HC Wainwright reiterated a “buy” rating and set a $56.00 target price on shares of Exelixis in a research report on Thursday, July 2nd. Finally, Stifel Nicolaus upped their target price on shares of Exelixis from $47.00 to $51.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Exelixis has an average rating of “Hold” and a consensus price target of $50.07.

Insiders Place Their Bets

In related news, Director Mary Beckerle sold 9,812 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the transaction, the director directly owned 16,079 shares of the company’s stock, valued at approximately $862,799.14. This represents a 37.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.60% of the company’s stock.

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.