Caisse DE Depot ET Placement DU Quebec Invests $14.98 Million in Exelixis, Inc. (NASDAQ:EXEL)

Caisse DE Depot ET Placement DU Quebec acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 577,228 shares of the biotechnology company’s stock, valued at approximately $14,979,000. Caisse DE Depot ET Placement DU Quebec owned about 0.20% of Exelixis as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in EXEL. Verition Fund Management LLC acquired a new position in shares of Exelixis in the 3rd quarter valued at $1,225,000. Captrust Financial Advisors raised its holdings in Exelixis by 4.0% in the 3rd quarter. Captrust Financial Advisors now owns 35,430 shares of the biotechnology company’s stock valued at $919,000 after buying an additional 1,368 shares during the period. Capstone Investment Advisors LLC acquired a new position in Exelixis in the third quarter valued at about $625,000. CreativeOne Wealth LLC purchased a new position in Exelixis during the third quarter worth about $203,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Exelixis during the third quarter valued at about $42,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXEL has been the topic of several recent analyst reports. BMO Capital Markets upped 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 upped their price target on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. TD Cowen increased their target price on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Truist Financial lifted their target price on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Stock Performance

NASDAQ:EXEL opened at $36.46 on Monday. Exelixis, Inc. has a 1 year low of $19.20 and a 1 year high of $36.97. The stock has a market cap of $10.41 billion, a P/E ratio of 23.37, a P/E/G ratio of 0.92 and a beta of 0.51. The stock has a 50-day simple moving average of $30.82 and a 200-day simple moving average of $26.11.

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. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same period in the prior year, the company posted $0.10 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts predict that Exelixis, Inc. will post 1.69 EPS for the current year.

Insider Transactions at Exelixis

In related news, EVP Dana Aftab sold 96,986 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the transaction, the executive vice president now owns 498,945 shares of the company’s stock, valued at $17,463,075. This trade represents a 16.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the transaction, the executive vice president now owns 278,665 shares in the company, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 279,736 shares of company stock worth $9,308,410. Corporate insiders own 2.85% of the company’s stock.

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.