Dimensional Fund Advisors LP Purchases 39,920 Shares of Exelixis, Inc. $EXEL

Dimensional Fund Advisors LP increased its position in Exelixis, Inc. (NASDAQ:EXEL) by 0.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,299,597 shares of the biotechnology company’s stock after purchasing an additional 39,920 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Exelixis were worth $184,391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in EXEL. Parallel Advisors LLC raised its holdings in Exelixis by 5.7% in the first quarter. Parallel Advisors LLC now owns 9,115 shares of the biotechnology company’s stock worth $391,000 after purchasing an additional 495 shares in the last quarter. KBC Group NV lifted its position in Exelixis by 2.8% during the first quarter. KBC Group NV now owns 45,472 shares of the biotechnology company’s stock valued at $1,950,000 after buying an additional 1,236 shares during the period. Precision Wealth Strategies LLC bought a new stake in shares of Exelixis during the 1st quarter valued at $578,000. California Public Employees Retirement System boosted its holdings in shares of Exelixis by 7.1% during the 1st quarter. California Public Employees Retirement System now owns 555,750 shares of the biotechnology company’s stock valued at $23,836,000 after buying an additional 36,751 shares in the last quarter. Finally, Assetmark Inc. grew its position in shares of Exelixis by 1.7% in the 1st quarter. Assetmark Inc. now owns 3,388,920 shares of the biotechnology company’s stock worth $145,351,000 after buying an additional 58,149 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EXEL has been the subject of several research reports. TD Cowen increased their price target on shares of Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Citizens Jmp boosted their price objective on shares of Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Wednesday, June 24th. Barclays upped their price objective on shares of Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Morgan Stanley raised their target price on shares of Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $49.00.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 32,110 shares of Exelixis stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total value of $1,599,399.10. Following the completion of the transaction, the executive vice president directly owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. The trade was a 8.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack L. Wyszomierski sold 3,925 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $50.55, for a total transaction of $198,408.75. Following the completion of the transaction, the director owned 284,384 shares in the company, valued at approximately $14,375,611.20. This represents a 1.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 219,170 shares of company stock worth $10,620,641 in the last 90 days. Insiders own 2.60% of the company’s stock.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $55.37 on Friday. The business has a fifty day moving average price of $53.16 and a 200-day moving average price of $47.19. The company has a market capitalization of $13.92 billion, a PE ratio of 18.40, a PEG ratio of 1.60 and a beta of 0.42. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $57.57.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. During the same quarter in the previous year, the business posted $0.55 EPS. Exelixis’s revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Exelixis, Inc. will post 3.15 earnings per share for the current fiscal year.

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.