GAM Holding AG Takes Position in Exelixis, Inc. (EXEL)
GAM Holding AG bought a new position in Exelixis, Inc. (NASDAQ:EXEL) during the second quarter, according to its most recent filing with the SEC. The firm bought 51,000 shares of the biotechnology company’s stock, valued at approximately $1,256,000.
Other hedge funds have also added to or reduced their stakes in the company. Fortaleza Asset Management Inc. purchased a new position in shares of Exelixis during the first quarter worth $106,000. First Quadrant L P CA purchased a new position in shares of Exelixis during the second quarter worth $144,000. Meeder Asset Management Inc. purchased a new position in shares of Exelixis during the first quarter worth $170,000. Atlantic Trust Group LLC purchased a new position in shares of Exelixis during the first quarter worth $216,000. Finally, Wetherby Asset Management Inc. purchased a new position in shares of Exelixis during the second quarter worth $218,000. 79.18% of the stock is owned by hedge funds and other institutional investors.
Shares of Exelixis, Inc. (NASDAQ:EXEL) opened at 28.28 on Thursday. The company has a market capitalization of $8.31 billion, a PE ratio of 142.83 and a beta of 1.89. Exelixis, Inc. has a 52-week low of $10.04 and a 52-week high of $28.67. The company has a 50-day moving average of $26.74 and a 200 day moving average of $22.86.
Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. The firm had revenue of $99.01 million for the quarter, compared to the consensus estimate of $85.27 million. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The company’s revenue was up 173.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.15) EPS. Analysts predict that Exelixis, Inc. will post $0.26 earnings per share for the current year.
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A number of equities analysts have recently weighed in on the stock. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Exelixis in a research report on Monday, June 5th. Stifel Nicolaus reissued a “hold” rating and set a $26.00 price target on shares of Exelixis in a research report on Thursday, August 3rd. Piper Jaffray Companies reissued a “buy” rating and set a $29.00 price target on shares of Exelixis in a research report on Thursday, August 3rd. William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Monday, June 26th. Finally, Deutsche Bank AG cut shares of Exelixis from a “buy” rating to a “hold” rating and lifted their price target for the stock from $26.00 to $29.00 in a research report on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $25.57.
Exelixis Company Profile
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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