Arrowstreet Capital Limited Partnership Grows Holdings in Exelixis, Inc. $EXEL

Arrowstreet Capital Limited Partnership lifted its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 42.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,262,643 shares of the biotechnology company’s stock after buying an additional 1,580,567 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.95% of Exelixis worth $231,951,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXEL. Hemington Wealth Management grew its position in shares of Exelixis by 211.3% during the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 522 shares in the last quarter. Byrne Asset Management LLC lifted its position in Exelixis by 129.0% during the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 400 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new stake in Exelixis during the second quarter worth approximately $33,000. Costello Asset Management INC bought a new stake in Exelixis in the first quarter worth $39,000. Finally, Harbour Investments Inc. grew its holdings in Exelixis by 900.0% during the 1st quarter. Harbour Investments Inc. now owns 1,100 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 990 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on EXEL shares. Zacks Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Guggenheim cut Exelixis from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Royal Bank Of Canada reissued a “sector perform” rating and set a $45.00 price objective on shares of Exelixis in a report on Tuesday, October 21st. Oppenheimer reiterated a “market perform” rating and issued a $36.00 price objective on shares of Exelixis in a research note on Wednesday, November 5th. Finally, Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.45.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Dana Aftab sold 48,383 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $42.50, for a total value of $2,056,277.50. Following the sale, the executive vice president owned 664,778 shares of the company’s stock, valued at $28,253,065. This trade represents a 6.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick J. Haley sold 28,043 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $42.58, for a total transaction of $1,194,070.94. Following the completion of the sale, the executive vice president directly owned 374,029 shares in the company, valued at approximately $15,926,154.82. This represents a 6.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 245,235 shares of company stock worth $10,490,600 over the last ninety days. Company insiders own 2.85% of the company’s stock.

Exelixis Stock Performance

EXEL opened at $43.44 on Wednesday. The business’s 50 day moving average price is $40.39 and its 200 day moving average price is $40.84. The stock has a market capitalization of $11.65 billion, a PE ratio of 18.33, a P/E/G ratio of 0.78 and a beta of 0.40. Exelixis, Inc. has a one year low of $31.90 and a one year high of $49.62.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. The company had revenue of $597.76 million for the quarter, compared to analysts’ expectations of $590.04 million. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. Exelixis’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share. As a group, equities research analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Exelixis Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.