Stephens Investment Management Group LLC Grows Position in Exelixis, Inc. (EXEL)

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Stephens Investment Management Group LLC boosted its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 50.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 692,226 shares of the biotechnology company’s stock after purchasing an additional 232,761 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.23% of Exelixis worth $14,675,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. James Investment Research Inc. purchased a new position in Exelixis during the 2nd quarter valued at about $133,000. TLP Group LLC purchased a new position in Exelixis during the 1st quarter valued at about $179,000. Massachusetts Financial Services Co. MA purchased a new position in Exelixis during the 1st quarter valued at about $215,000. Washington Trust Bank purchased a new position in Exelixis during the 2nd quarter valued at about $213,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Exelixis by 83.4% during the 1st quarter. Meeder Asset Management Inc. now owns 9,887 shares of the biotechnology company’s stock valued at $218,000 after buying an additional 4,495 shares during the last quarter. Institutional investors own 80.92% of the company’s stock.

NASDAQ:EXEL traded up $0.26 during trading hours on Friday, reaching $16.97. The company had a trading volume of 3,134,720 shares, compared to its average volume of 3,312,297. Exelixis, Inc. has a one year low of $16.54 and a one year high of $32.50. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 33.27 and a beta of 1.96.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 1st. The biotechnology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.16 by $0.12. The company had revenue of $186.10 million for the quarter, compared to analysts’ expectations of $157.37 million. Exelixis had a return on equity of 65.68% and a net margin of 48.17%. The business’s revenue for the quarter was up 88.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. equities research analysts forecast that Exelixis, Inc. will post 1.03 earnings per share for the current fiscal year.

EXEL has been the subject of several research reports. Cann restated a “buy” rating and issued a $40.00 target price on shares of Exelixis in a report on Wednesday, May 30th. ValuEngine upgraded Exelixis from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Stifel Nicolaus lowered their price objective on Exelixis from $29.00 to $25.00 and set a “hold” rating on the stock in a research report on Wednesday, August 1st. Finally, BidaskClub upgraded Exelixis from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 30th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $31.30.

In other Exelixis news, insider Gisela Schwab sold 22,500 shares of the stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $20.56, for a total value of $462,600.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Morrissey sold 90,000 shares of the stock in a transaction dated Monday, June 25th. The stock was sold at an average price of $19.62, for a total value of $1,765,800.00. The disclosure for this sale can be found here. Insiders have sold 714,128 shares of company stock worth $14,496,195 in the last ninety days. 4.80% of the stock is currently owned by insiders.

About Exelixis

Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. 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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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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