Point72 Hong Kong Ltd Makes New Investment in Exelixis, Inc. (NASDAQ:EXEL)

Point72 Hong Kong Ltd bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,918 shares of the biotechnology company’s stock, valued at approximately $958,000.

Other large investors also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Exelixis in the 3rd quarter valued at about $30,000. Brooklyn Investment Group bought a new position in shares of Exelixis in the third quarter valued at approximately $42,000. GAMMA Investing LLC increased its position in shares of Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 1,041 shares during the last quarter. Park Place Capital Corp bought a new stake in Exelixis during the second quarter worth $45,000. Finally, Capital Performance Advisors LLP purchased a new position in Exelixis in the third quarter worth $61,000. 85.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the transaction, the executive vice president now owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. The trade was a 3.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 1,162 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the transaction, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 279,736 shares of company stock worth $9,308,410 in the last ninety days. 2.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EXEL shares. JMP Securities reaffirmed a “market outperform” rating and set a $29.00 target price on shares of Exelixis in a research report on Friday, October 11th. Stifel Nicolaus lifted their price objective on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their target price on shares of Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group started coverage on shares of Exelixis in a report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price target on the stock. Finally, Stephens increased their price objective on Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating 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 issued a strong buy rating to the company. According to data from MarketBeat, Exelixis has an average rating of “Moderate Buy” and an average target price of $31.44.

Exelixis Trading Up 1.5 %

Shares of NASDAQ:EXEL opened at $36.46 on Monday. The company has a 50 day moving average of $30.82 and a 200 day moving average of $26.11. 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. Exelixis, Inc. has a 12 month low of $19.20 and a 12 month high of $36.97.

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

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.