Marshall Wace North America L.P. Acquires 458,527 Shares of Exelixis, Inc. (EXEL)
Marshall Wace North America L.P. raised its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 59.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,230,182 shares of the biotechnology company’s stock after buying an additional 458,527 shares during the period. Marshall Wace North America L.P. owned about 0.42% of Exelixis worth $30,755,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of the stock. Fortaleza Asset Management Inc. acquired a new stake in Exelixis during the first quarter valued at approximately $106,000. First Quadrant L P CA acquired a new stake in Exelixis during the second quarter valued at approximately $144,000. Meeder Asset Management Inc. acquired a new stake in Exelixis during the first quarter valued at approximately $170,000. Atlantic Trust Group LLC acquired a new stake in Exelixis during the first quarter valued at approximately $216,000. Finally, Klingenstein Fields & Co. LLC acquired a new stake in Exelixis during the first quarter valued at approximately $217,000. Institutional investors and hedge funds own 79.93% of the company’s stock.
Shares of Exelixis, Inc. (EXEL) opened at 26.37 on Tuesday. Exelixis, Inc. has a 52-week low of $10.04 and a 52-week high of $28.45. The firm’s 50-day moving average is $26.53 and its 200 day moving average is $22.70. The stock has a market cap of $7.75 billion, a P/E ratio of 133.18 and a beta of 1.89.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The firm had revenue of $99.01 million during the quarter, compared to the consensus estimate of $85.27 million. During the same quarter in the previous year, the company posted ($0.15) EPS. The firm’s revenue for the quarter was up 173.1% on a year-over-year basis. Analysts forecast that Exelixis, Inc. will post $0.26 earnings per share for the current fiscal year.
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Several equities research analysts have recently commented on EXEL shares. TheStreet upgraded shares of Exelixis from a “c” rating to a “b-” rating in a report on Monday, August 7th. SunTrust Banks, Inc. initiated coverage on shares of Exelixis in a research note on Thursday, July 13th. They set a “buy” rating and a $33.00 price objective for the company. BidaskClub upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Piper Jaffray Companies reiterated a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research note on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $25.57.
In related news, insider Patrick J. Haley sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $18.46, for a total value of $92,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.10% of the company’s stock.
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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