Osaic Holdings Inc. Raises Position in Exelixis, Inc. $EXEL

Osaic Holdings Inc. increased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 151.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,276 shares of the biotechnology company’s stock after purchasing an additional 41,167 shares during the period. Osaic Holdings Inc.’s holdings in Exelixis were worth $2,890,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in shares of Exelixis by 73.8% during the 1st quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company’s stock worth $250,869,000 after buying an additional 2,926,884 shares in the last quarter. Norges Bank acquired a new stake in Exelixis in the second quarter valued at $122,099,000. Qube Research & Technologies Ltd boosted its position in shares of Exelixis by 120.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock worth $134,306,000 after purchasing an additional 1,665,110 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Exelixis by 42.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock worth $231,951,000 after purchasing an additional 1,580,567 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of Exelixis by 776.8% in the 2nd quarter. Prudential Financial Inc. now owns 1,468,865 shares of the biotechnology company’s stock valued at $64,740,000 after purchasing an additional 1,301,330 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity

In other Exelixis news, Director Mary C. Beckerle sold 24,622 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $41.93, for a total value of $1,032,400.46. Following the completion of the transaction, the director directly owned 21,380 shares in the company, valued at approximately $896,463.40. The trade was a 53.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dana Aftab sold 48,383 shares of the stock in a transaction on 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 transaction, the executive vice president directly owned 664,778 shares in the company, valued at approximately $28,253,065. This represents a 6.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 245,235 shares of company stock worth $10,490,600. 2.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

EXEL has been the topic of several recent analyst reports. Guggenheim lowered shares of Exelixis from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research note on Wednesday, October 8th. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 14th. HC Wainwright raised their price target on Exelixis from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Morgan Stanley lifted their price target on Exelixis from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.74.

Exelixis Stock Down 0.6%

Shares of NASDAQ:EXEL opened at $46.24 on Friday. The company has a market capitalization of $12.40 billion, a P/E ratio of 19.51, a P/E/G ratio of 0.84 and a beta of 0.40. Exelixis, Inc. has a 52-week low of $31.90 and a 52-week high of $49.62. The stock’s fifty day simple moving average is $41.82 and its 200-day simple moving average is $40.95.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.10. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The firm had revenue of $597.76 million during the quarter, compared to the consensus estimate of $590.04 million. During the same quarter in the previous year, the company posted $0.47 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current year.

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.