NFJ Investment Group LLC Makes New Investment in Exelixis, Inc. (NASDAQ:EXEL)

NFJ Investment Group LLC bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the 3rd quarter, HoldingsChannel reports. The fund bought 61,012 shares of the biotechnology company’s stock, valued at approximately $1,583,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EXEL. LSV Asset Management boosted its holdings in shares of Exelixis by 107.7% in 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 in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Exelixis by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after acquiring an additional 991,494 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Exelixis in the third quarter valued at about $14,979,000. Farallon Capital Management LLC boosted its holdings 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 valued at $608,993,000 after acquiring an additional 424,000 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Exelixis by 12.7% in 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 in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Activity

In related news, EVP Dana Aftab sold 96,986 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total value of $3,394,510.00. Following the completion of the sale, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $17,463,075. The trade was a 16.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.39, for a total transaction of $709,750.00. Following the completion of the sale, the executive vice president now owns 580,325 shares of the company’s stock, valued at approximately $16,475,426.75. The trade was a 4.13 % 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 valued at $11,508,610 over the last 90 days. Insiders own 2.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Morgan Stanley lifted their target price 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. Wells Fargo & Company boosted their price objective on shares of Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. BMO Capital Markets boosted their price objective on shares of Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Stifel Nicolaus boosted their price objective 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, Royal Bank of Canada reissued an “outperform” rating and set a $34.00 price objective on shares of Exelixis in a report on Wednesday, October 30th. 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 given a strong buy rating to the company. According to data from MarketBeat, Exelixis has an average rating of “Moderate Buy” and an average price target of $31.44.

Exelixis Trading Up 1.4 %

Shares of EXEL opened at $35.77 on Thursday. The company has a 50-day moving average of $31.18 and a two-hundred day moving average of $26.35. The stock has a market cap of $10.22 billion, a P/E ratio of 22.93, a PEG ratio of 0.90 and a beta of 0.52. Exelixis, Inc. has a 12-month low of $19.20 and a 12-month high of $36.97.

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

Exelixis Company Profile

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.