Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 61,025 shares of the biotechnology company’s stock, valued at approximately $1,200,000.
Other hedge funds also recently added to or reduced their stakes in the company. FTB Advisors Inc. grew its stake in Exelixis by 312.0% during the 4th quarter. FTB Advisors Inc. now owns 1,545 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 1,170 shares in the last quarter. JOYN Advisors Inc. grew its stake in Exelixis by 334.2% during the 4th quarter. JOYN Advisors Inc. now owns 1,524 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 1,173 shares in the last quarter. Cornerstone Advisors Inc. purchased a new stake in Exelixis during the 4th quarter valued at about $38,000. Financial Gravity Companies Inc. purchased a new stake in Exelixis during the 4th quarter valued at about $50,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in Exelixis during the 4th quarter valued at about $59,000. 75.68% of the stock is owned by institutional investors and hedge funds.
Exelixis stock opened at $24.53 on Friday. Exelixis, Inc. has a 1-year low of $13.42 and a 1-year high of $25.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.50 and a quick ratio of 8.41. The company has a market capitalization of $7.45 billion, a PE ratio of 17.15, a PEG ratio of 0.77 and a beta of 2.22.
Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 12th. The biotechnology company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.14. Exelixis had a net margin of 80.95% and a return on equity of 48.90%. The business had revenue of $228.60 million during the quarter, compared to analysts’ expectations of $188.44 million. During the same quarter in the prior year, the company posted $0.12 EPS. The business’s revenue for the quarter was up 90.4% on a year-over-year basis. As a group, equities analysts forecast that Exelixis, Inc. will post 1.04 earnings per share for the current fiscal year.
In other news, VP Patrick J. Haley sold 1,560 shares of the company’s stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $23.50, for a total value of $36,660.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Vincent T. Marchesi sold 41,250 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $21.50, for a total transaction of $886,875.00. The disclosure for this sale can be found here. In the last three months, insiders sold 859,872 shares of company stock valued at $19,069,347. Corporate insiders own 4.80% of the company’s stock.
Several brokerages recently issued reports on EXEL. Zacks Investment Research cut shares of Exelixis from a “buy” rating to a “hold” rating in a research note on Monday, February 11th. BidaskClub raised shares of Exelixis from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. ValuEngine raised shares of Exelixis from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Cowen reaffirmed a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research note on Tuesday, February 26th. Finally, TheStreet raised shares of Exelixis from a “c+” rating to a “b-” rating in a research note on Monday, December 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $29.20.
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Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.
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