ExodusPoint Capital Management LP Acquires Shares of 70,801 Exelixis, Inc. (NASDAQ:EXEL)

ExodusPoint Capital Management LP bought a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 70,801 shares of the biotechnology company's stock, valued at approximately $2,358,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in Exelixis in the 4th quarter worth about $94,867,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Exelixis by 104.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company's stock valued at $105,208,000 after purchasing an additional 1,613,482 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company's stock valued at $52,884,000 after purchasing an additional 704,786 shares during the period. Globeflex Capital L P boosted its holdings in Exelixis by 203.8% in the fourth quarter. Globeflex Capital L P now owns 975,151 shares of the biotechnology company's stock worth $32,473,000 after purchasing an additional 654,200 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Exelixis in the 4th quarter worth approximately $17,046,000. Institutional investors own 85.27% of the company's stock.

Analysts Set New Price Targets

EXEL has been the topic of a number of research reports. JMP Securities restated a "market outperform" rating and issued a $41.00 price target on shares of Exelixis in a research note on Thursday, January 23rd. Wells Fargo & Company downgraded Exelixis from an "overweight" rating to an "equal weight" rating and set a $36.00 price target for the company. in a research note on Monday, February 24th. Stifel Nicolaus increased their price objective on shares of Exelixis from $30.00 to $36.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. Brookline Capital Management assumed coverage on shares of Exelixis in a research note on Monday, December 23rd. They set a "buy" rating on the stock. Finally, BMO Capital Markets downgraded shares of Exelixis from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from $36.00 to $40.00 in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $37.59.

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Exelixis Stock Up 2.5 %

NASDAQ EXEL traded up $0.85 on Friday, reaching $35.31. The company had a trading volume of 2,146,139 shares, compared to its average volume of 2,174,346. The stock has a market capitalization of $9.88 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a 12 month low of $20.14 and a 12 month high of $40.02. The firm's 50 day moving average price is $36.16 and its 200 day moving average price is $33.95.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. On average, research analysts expect that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Activity

In related news, Director Jack L. Wyszomierski sold 8,768 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $37.80, for a total value of $331,430.40. Following the completion of the transaction, the director now owns 356,605 shares of the company's stock, valued at approximately $13,479,669. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the sale, the executive vice president now directly owns 341,028 shares in the company, valued at $13,231,886.40. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,343 shares of company stock worth $5,177,234. 2.85% of the stock is currently owned by insiders.

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.