Point72 Hong Kong Ltd Makes New Investment in Exelixis, Inc. (NASDAQ:EXEL)

Point72 Hong Kong Ltd purchased a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 36,918 shares of the biotechnology company’s stock, valued at approximately $958,000.

Several other large investors have also recently made changes to their positions in the business. Farallon Capital Management LLC grew its holdings in shares of Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after purchasing an additional 424,000 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Exelixis by 0.4% during the second quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock valued at $340,714,000 after buying an additional 61,350 shares during the last quarter. LSV Asset Management increased its holdings in shares of Exelixis by 107.7% in the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after buying an additional 2,989,021 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Exelixis by 7.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock valued at $115,434,000 after acquiring an additional 349,837 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Exelixis by 12.7% during the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after acquiring an additional 370,199 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EXEL shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $34.00 price target on shares of Exelixis in a research note on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and set a $29.00 price target on shares of Exelixis in a report on Friday, October 11th. Morgan Stanley raised their price target on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. UBS Group initiated coverage on shares of Exelixis in a research report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price objective on the stock. Finally, Guggenheim increased their target price on shares of Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.44.

Insider Transactions at Exelixis

In related news, EVP Dana Aftab sold 1,162 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the transaction, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $35.27, for a total transaction of $352,700.00. Following the sale, the executive vice president now directly owns 278,665 shares in the company, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 279,736 shares of company stock valued at $9,308,410 in the last ninety days. 2.85% of the stock is currently owned by corporate insiders.

Exelixis Trading Up 1.5 %

Shares of Exelixis stock opened at $36.46 on Monday. Exelixis, Inc. has a 12 month low of $19.20 and a 12 month high of $36.97. The firm has a market capitalization of $10.41 billion, a P/E ratio of 23.37, a P/E/G ratio of 0.92 and a beta of 0.51. The business has a fifty day simple moving average of $30.82 and a two-hundred day simple moving average of $26.11.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Exelixis’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS. Analysts predict that Exelixis, Inc. will post 1.69 earnings per share for the current year.

Exelixis Company 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.