Point72 Hong Kong Ltd Purchases Shares of 36,918 Exelixis, Inc. (NASDAQ:EXEL)

Point72 Hong Kong Ltd bought a new position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 36,918 shares of the biotechnology company's stock, valued at approximately $958,000.

A number of other institutional investors also recently modified their holdings of EXEL. LSV Asset Management raised its stake 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 worth $129,511,000 after acquiring an additional 2,989,021 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Exelixis by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company's stock worth $46,473,000 after buying an additional 991,494 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Exelixis during the third quarter worth approximately $14,979,000. Farallon Capital Management LLC raised its stake in shares of Exelixis by 1.6% during the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company's stock worth $608,993,000 after buying an additional 424,000 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Exelixis by 12.7% during the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company's stock worth $73,425,000 after buying an additional 370,199 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Guggenheim boosted their price target on shares of Exelixis from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. JMP Securities reissued a "market outperform" rating and set a $29.00 price target on shares of Exelixis in a research note on Friday, October 11th. Truist Financial boosted their price target on shares of Exelixis from $33.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. UBS Group assumed coverage on shares of Exelixis in a research note on Thursday, September 19th. They set a "neutral" rating and a $30.00 price target for the company. Finally, BMO Capital Markets boosted their price target on shares of Exelixis from $29.00 to $36.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.44.

Exelixis Price Performance

Shares of Exelixis stock traded down $0.84 on Monday, hitting $35.62. The company had a trading volume of 744,118 shares, compared to its average volume of 2,064,547. The firm has a market capitalization of $10.17 billion, a P/E ratio of 23.29, a P/E/G ratio of 0.92 and a beta of 0.51. Exelixis, Inc. has a twelve month low of $19.20 and a twelve month high of $36.97. The stock has a 50-day moving average of $30.82 and a 200-day moving average of $26.15.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million during the quarter, compared to analysts' expectations of $490.31 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The firm's revenue was up 14.3% on a year-over-year basis. Equities analysts predict that Exelixis, Inc. will post 1.69 EPS for the current year.

Insider Buying and Selling

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the sale, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the sale, the executive vice president now owns 605,325 shares of the company's stock, valued at approximately $15,968,473.50. This represents a 3.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,736 shares of company stock worth $9,308,410. 2.85% of the stock is owned by insiders.

Exelixis 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.