Renaissance Technologies LLC increased its stake in Exelixis, Inc. (NASDAQ:EXEL) by 18.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,558,060 shares of the biotechnology company’s stock after buying an additional 247,550 shares during the period. Renaissance Technologies LLC owned approximately 0.53% of Exelixis worth $33,763,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. acquired a new stake in Exelixis during the first quarter valued at $383,000. Nationwide Fund Advisors raised its stake in Exelixis by 61.2% in the first quarter. Nationwide Fund Advisors now owns 284,279 shares of the biotechnology company’s stock valued at $6,160,000 after buying an additional 107,889 shares during the period. Highbridge Capital Management LLC raised 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 valued at $227,000 after buying an additional 8,123 shares during the period. Norges Bank acquired a new stake in Exelixis during the fourth quarter valued at $36,882,000. Finally, Boothbay Fund Management LLC acquired a new stake in Exelixis during the fourth quarter valued at $247,000. 80.82% of the stock is currently owned by institutional investors.
Exelixis, Inc. (NASDAQ:EXEL) opened at 26.21 on Tuesday. The company’s 50 day moving average price is $20.79 and its 200 day moving average price is $20.23. The stock has a market cap of $7.67 billion, a PE ratio of 1248.10 and a beta of 1.87. Exelixis, Inc. has a 12 month low of $8.19 and a 12 month high of $27.63.
Exelixis (NASDAQ:EXEL) last posted its earnings results on Monday, May 1st. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. Exelixis had a net margin of 1.37% and a return on equity of 126.82%. The business had revenue of $80.90 million for the quarter, compared to analyst estimates of $65.23 million. During the same period in the prior year, the company posted ($0.27) EPS. The company’s revenue for the quarter was up 425.3% on a year-over-year basis. Equities analysts forecast that Exelixis, Inc. will post $0.18 EPS for the current fiscal year.
EXEL has been the subject of several research reports. Zacks Investment Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 28th. William Blair restated an “outperform” rating on shares of Exelixis in a research report on Monday, June 26th. Needham & Company LLC initiated coverage on Exelixis in a research report on Friday, March 31st. They set a “buy” rating and a $28.00 price objective for the company. Cann restated a “hold” rating on shares of Exelixis in a research report on Wednesday, April 19th. Finally, TheStreet upgraded Exelixis from a “d” rating to a “c+” rating in a research report on Tuesday, May 2nd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $20.95.
In other news, insider Patrick J. Haley sold 5,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $18.46, for a total transaction of $92,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carl B. Feldbaum sold 32,988 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $21.58, for a total transaction of $711,881.04. Following the transaction, the director now owns 52,721 shares of the company’s stock, valued at approximately $1,137,719.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 709,647 shares of company stock worth $15,673,068. Corporate insiders own 5.10% of the company’s stock.
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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