Point72 DIFC Ltd Takes Position in Exelixis, Inc. (NASDAQ:EXEL)

Point72 DIFC Ltd bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,200 shares of the biotechnology company’s stock, valued at approximately $446,000.

A number of other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Exelixis during the 3rd quarter valued at approximately $30,000. Brooklyn Investment Group acquired a new position in Exelixis during the third quarter valued at $42,000. GAMMA Investing LLC lifted its position in Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 1,041 shares during the period. Capital Performance Advisors LLP purchased a new stake in Exelixis in the third quarter valued at $61,000. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Exelixis during the 3rd quarter valued at about $74,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EXEL. HC Wainwright restated a “buy” rating and issued a $29.00 target price on shares of Exelixis in a research note on Wednesday, September 18th. Wells Fargo & Company upped their price objective on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Guggenheim lifted their target price on shares of Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus increased their price target on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley lifted their price objective on shares of Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.44.

Insiders Place Their Bets

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now owns 498,945 shares of the company’s stock, valued at $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $28.39, for a total value of $709,750.00. Following the completion of the transaction, the executive vice president now directly owns 580,325 shares in the company, valued at approximately $16,475,426.75. This trade represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 339,736 shares of company stock valued at $11,508,610. Insiders own 2.85% of the company’s stock.

Exelixis Stock Down 0.6 %

Exelixis stock opened at $35.82 on Friday. The company has a fifty day simple moving average of $31.77 and a 200-day simple moving average of $26.59. The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 0.89 and a beta of 0.52. Exelixis, Inc. has a 52-week low of $19.20 and a 52-week high of $36.97.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Exelixis’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 EPS. On average, research analysts anticipate that Exelixis, Inc. will post 1.69 EPS for the current fiscal year.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers 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 progressive and metastatic medullary thyroid cancer.