Osaic Holdings Inc. Boosts Holdings in Exelixis, Inc. $EXEL

Osaic Holdings Inc. grew its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 151.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,276 shares of the biotechnology company’s stock after acquiring an additional 41,167 shares during the quarter. Osaic Holdings Inc.’s holdings in Exelixis were worth $2,890,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. American Trust acquired a new position in Exelixis during the second quarter worth approximately $215,000. Centaurus Financial Inc. acquired a new stake in shares of Exelixis during the 2nd quarter worth $274,000. Orion Porfolio Solutions LLC raised its position in shares of Exelixis by 20.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 55,301 shares of the biotechnology company’s stock worth $2,437,000 after buying an additional 9,224 shares during the period. Neuberger Berman Group LLC boosted its holdings in Exelixis by 32.9% in the second quarter. Neuberger Berman Group LLC now owns 31,406 shares of the biotechnology company’s stock valued at $1,384,000 after acquiring an additional 7,779 shares during the last quarter. Finally, Advisory Services Network LLC grew its position in Exelixis by 38.6% during the second quarter. Advisory Services Network LLC now owns 40,698 shares of the biotechnology company’s stock valued at $1,794,000 after acquiring an additional 11,334 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EXEL shares. TD Cowen raised their price objective on Exelixis from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Oppenheimer reissued a “market perform” rating and set a $36.00 target price on shares of Exelixis in a research report on Wednesday, November 5th. Citigroup reaffirmed a “market outperform” rating on shares of Exelixis in a research report on Thursday, December 18th. HC Wainwright boosted their price objective on shares of Exelixis from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $45.00 price target on shares of Exelixis in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.74.

Exelixis Trading Down 0.6%

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

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The business had revenue of $597.76 million during the quarter, compared to analyst estimates of $590.04 million. During the same period last year, the business earned $0.47 EPS. The business’s revenue was up 10.8% on a year-over-year basis. On average, research analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Patrick J. Haley sold 28,043 shares of Exelixis stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $42.58, for a total transaction of $1,194,070.94. Following the sale, the executive vice president directly owned 374,029 shares of the company’s stock, valued at approximately $15,926,154.82. The trade was a 6.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stelios Papadopoulos sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $43.55, for a total value of $4,355,000.00. Following the completion of the transaction, the director owned 1,189,228 shares in the company, valued at approximately $51,790,879.40. This trade represents a 7.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 245,235 shares of company stock valued at $10,490,600 in the last three months. 2.82% of the stock is owned by insiders.

About Exelixis

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.