Meeder Asset Management Inc. boosted its position in Exelixis, Inc. (NASDAQ:EXEL) by 26.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,957 shares of the biotechnology company’s stock after buying an additional 2,091 shares during the period. Meeder Asset Management Inc.’s holdings in Exelixis were worth $245,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of EXEL. Fortaleza Asset Management Inc. purchased a new stake in Exelixis during the first quarter worth $106,000. Atlantic Trust Group LLC purchased a new stake in Exelixis during the first quarter worth $216,000. Klingenstein Fields & Co. LLC purchased a new stake in Exelixis during the first quarter worth $217,000. Highbridge Capital Management LLC increased its stake in Exelixis by 114.4% in the fourth quarter. Highbridge Capital Management LLC now owns 15,223 shares of the biotechnology company’s stock worth $227,000 after buying an additional 8,123 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Exelixis during the first quarter worth $236,000. 80.85% of the stock is owned by institutional investors.
Exelixis, Inc. (NASDAQ:EXEL) opened at 27.23 on Monday. The company has a 50 day moving average price of $23.04 and a 200-day moving average price of $21.23. The company has a market capitalization of $7.97 billion, a P/E ratio of 1296.67 and a beta of 1.87. Exelixis, Inc. has a 52 week low of $8.58 and a 52 week high of $27.63.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Monday, May 1st. The biotechnology company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The firm had revenue of $80.90 million during the quarter, compared to analysts’ expectations of $65.23 million. Exelixis had a return on equity of 126.82% and a net margin of 1.37%. The business’s quarterly revenue was up 425.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.27) earnings per share. On average, equities analysts anticipate that Exelixis, Inc. will post $0.18 earnings per share for the current fiscal year.
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A number of equities research analysts have recently weighed in on the company. Cann reaffirmed a “hold” rating on shares of Exelixis in a research note on Wednesday, April 19th. Zacks Investment Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. SunTrust Banks, Inc. assumed coverage on Exelixis in a research note on Thursday, July 13th. They set a “buy” rating and a $33.00 price target for the company. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Exelixis in a research note on Friday, April 21st. Finally, TheStreet raised Exelixis from a “d” rating to a “c+” rating in a research note on Tuesday, May 2nd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $20.95.
In other Exelixis news, insider Michael Morrissey sold 259,149 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $22.24, for a total value of $5,763,473.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Gisela Schwab sold 89,910 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $23.01, for a total value of $2,068,829.10. The disclosure for this sale can be found here. Insiders sold 709,647 shares of company stock worth $15,673,068 in the last 90 days. Corporate insiders own 5.10% of the company’s stock.
About Exelixis
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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