31,547 Shares in Exelixis, Inc. $EXEL Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp bought a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,547 shares of the biotechnology company’s stock, valued at approximately $1,716,000.

A number of other hedge funds have also recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in shares of Exelixis during the 2nd quarter worth approximately $2,267,000. Capital Square LLC purchased a new stake in Exelixis in the second quarter worth $220,000. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Exelixis in the second quarter worth $317,000. Globeflex Capital L P bought a new stake in shares of Exelixis during the second quarter worth $13,874,000. Finally, Bank of Nova Scotia bought a new stake in shares of Exelixis during the second quarter worth $22,838,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Stock Down 1.1%

Shares of NASDAQ:EXEL opened at $56.10 on Thursday. The firm has a 50 day moving average of $54.46 and a 200 day moving average of $48.88. The company has a market capitalization of $13.90 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 1.69 and a beta of 0.44. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $57.57.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The firm had revenue of $628.69 million during the quarter, compared to analyst estimates of $636.40 million. During the same period in the previous year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, sell-side analysts expect that Exelixis, Inc. will post 3.18 EPS for the current year.

Insider Buying and Selling

In other Exelixis news, Director Jack L. Wyszomierski sold 3,925 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.55, for a total value of $198,408.75. Following the completion of the sale, the director directly owned 284,384 shares in the company, valued at approximately $14,375,611.20. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sue Gail Eckhardt sold 9,812 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.14, for a total value of $491,973.68. Following the completion of the sale, the director directly owned 16,079 shares of the company’s stock, valued at approximately $806,201.06. This represents a 37.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,549 shares of company stock worth $1,216,894 in the last 90 days. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EXEL shares. Wells Fargo & Company upped their price target on shares of Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, July 13th. Citigroup reaffirmed a “market outperform” rating on shares of Exelixis in a research note on Wednesday, July 22nd. Stifel Nicolaus boosted their price target on Exelixis from $47.00 to $51.00 and gave the company a “hold” rating in a report on Thursday, August 6th. Leerink Partners cut Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price objective on the stock. in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded Exelixis from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $50.07.

Exelixis Profile

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.