Metropolitan Life Insurance Co. NY cut its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,882 shares of the biotechnology company’s stock after selling 6,542 shares during the period. Metropolitan Life Insurance Co. NY owned 0.05% of Exelixis worth $3,356,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Exelixis by 33,678.5% in the first quarter. BlackRock Inc. now owns 19,155,466 shares of the biotechnology company’s stock worth $415,099,000 after buying an additional 19,098,757 shares during the period. Old Mutual Global Investors UK Ltd. increased its position in Exelixis by 237.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 5,041,260 shares of the biotechnology company’s stock valued at $109,244,000 after buying an additional 3,547,665 shares during the last quarter. Vanguard Group Inc. increased its position in Exelixis by 12.8% in the first quarter. Vanguard Group Inc. now owns 23,735,071 shares of the biotechnology company’s stock valued at $514,339,000 after buying an additional 2,696,877 shares during the last quarter. Norges Bank acquired a new position in Exelixis during the fourth quarter valued at $36,882,000. Finally, Wells Fargo & Company MN increased its position in Exelixis by 167.1% in the first quarter. Wells Fargo & Company MN now owns 1,460,194 shares of the biotechnology company’s stock valued at $31,642,000 after buying an additional 913,454 shares during the last quarter. 80.19% of the stock is currently owned by hedge funds and other institutional investors.
Exelixis, Inc. (EXEL) traded up 1.91% during trading on Tuesday, reaching $27.20. 3,102,076 shares of the company’s stock traded hands. The company has a 50 day moving average of $25.47 and a 200 day moving average of $21.97. Exelixis, Inc. has a one year low of $10.04 and a one year high of $28.45. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 141.67 and a beta of 1.89.
Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The firm had revenue of $99.01 million during the quarter, compared to the consensus estimate of $85.27 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s revenue was up 173.1% compared to the same quarter last year. Equities research analysts predict that Exelixis, Inc. will post $0.25 EPS for the current year.
EXEL has been the subject of several recent research reports. BidaskClub upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. SunTrust Banks, Inc. began coverage on shares of Exelixis in a research note on Thursday, July 13th. They issued a “buy” rating and a $33.00 target price for the company. Piper Jaffray Companies reiterated a “buy” rating and set a $29.00 target price on shares of Exelixis in a research report on Thursday, August 3rd. TheStreet upgraded shares of Exelixis from a “d” rating to a “c+” rating in a report on Tuesday, May 2nd. Finally, Zacks Investment Research downgraded shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $25.57.
In other news, insider Michael Morrissey sold 211,300 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $21.87, for a total value of $4,621,131.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick J. Haley sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $18.46, for a total value of $92,300.00. The disclosure for this sale can be found here. Insiders sold 249,288 shares of company stock valued at $5,425,312 over the last three months. 5.10% of the stock is currently owned by corporate insiders.
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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