Two Sigma Advisers LP Acquires 98,000 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Two Sigma Advisers LP grew its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 6.1% during the 3rd quarter, Holdings Channel reports. The fund owned 1,702,590 shares of the biotechnology company’s stock after buying an additional 98,000 shares during the period. Two Sigma Advisers LP’s holdings in Exelixis were worth $44,182,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Farallon Capital Management LLC increased its stake in shares of Exelixis by 1.6% in the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after purchasing an additional 424,000 shares in the last quarter. Renaissance Technologies LLC increased its stake in Exelixis by 0.4% in the 2nd quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock worth $340,714,000 after buying an additional 61,350 shares in the last quarter. LSV Asset Management raised its holdings in Exelixis by 107.7% during the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after acquiring an additional 2,989,021 shares during the period. Dimensional Fund Advisors LP raised its holdings in Exelixis by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock valued at $115,434,000 after acquiring an additional 349,837 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Exelixis by 12.7% during the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after acquiring an additional 370,199 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $35.82 on Friday. The firm has a market capitalization of $10.23 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. The business has a 50 day simple moving average of $31.77 and a two-hundred day simple moving average of $26.59. Exelixis, Inc. has a 1 year low of $19.20 and a 1 year high of $36.97.

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

Insiders Place Their Bets

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dana Aftab sold 1,162 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the transaction, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $15,666,873. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 339,736 shares of company stock worth $11,508,610 over the last 90 days. Company insiders own 2.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EXEL. Piper Sandler raised their price target on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. BMO Capital Markets raised their price target on Exelixis from $29.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and set a $34.00 price target on shares of Exelixis in a report on Wednesday, October 30th. Stifel Nicolaus raised their price target on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, TD Cowen lifted their target price on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.44.

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.