Old Mutual Global Investors UK Ltd. Purchases 155,569 Shares of Exelixis, Inc. (EXEL)
Old Mutual Global Investors UK Ltd. increased its position in Exelixis, Inc. (NASDAQ:EXEL) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,196,829 shares of the biotechnology company’s stock after purchasing an additional 155,569 shares during the period. Exelixis makes up 1.6% of Old Mutual Global Investors UK Ltd.’s investment portfolio, making the stock its 18th largest holding. Old Mutual Global Investors UK Ltd. owned about 1.77% of Exelixis worth $127,997,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of EXEL. BlackRock Inc. lifted its stake in Exelixis by 33,678.5% during the 1st quarter. BlackRock Inc. now owns 19,155,466 shares of the biotechnology company’s stock valued at $415,099,000 after acquiring an additional 19,098,757 shares in the last quarter. Swiss National Bank lifted its stake in Exelixis by 18.4% during the 1st quarter. Swiss National Bank now owns 448,400 shares of the biotechnology company’s stock valued at $9,717,000 after acquiring an additional 69,700 shares in the last quarter. Credit Suisse AG lifted its stake in Exelixis by 20.1% during the 1st quarter. Credit Suisse AG now owns 768,110 shares of the biotechnology company’s stock valued at $16,646,000 after acquiring an additional 128,398 shares in the last quarter. Martingale Asset Management L P lifted its stake in Exelixis by 5.9% during the 1st quarter. Martingale Asset Management L P now owns 59,428 shares of the biotechnology company’s stock valued at $1,288,000 after acquiring an additional 3,301 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Exelixis by 26.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 9,957 shares of the biotechnology company’s stock valued at $245,000 after acquiring an additional 2,091 shares in the last quarter. Institutional investors own 79.20% of the company’s stock.
EXEL has been the topic of several recent analyst reports. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research note on Tuesday, July 4th. BidaskClub upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 25th. Deutsche Bank AG cut Exelixis from a “buy” rating to a “hold” rating and raised their price objective for the company from $26.00 to $29.00 in a research note on Thursday, August 3rd. SunTrust Banks, Inc. initiated coverage on Exelixis in a research note on Thursday, July 13th. They set a “buy” rating and a $33.00 price objective on the stock. Finally, William Blair restated an “outperform” rating on shares of Exelixis in a research note on Monday, June 26th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $25.57.
Exelixis, Inc. (NASDAQ EXEL) traded up 0.11% during midday trading on Wednesday, hitting $28.25. The stock had a trading volume of 820,512 shares. The firm has a market cap of $8.30 billion, a price-to-earnings ratio of 142.68 and a beta of 1.97. Exelixis, Inc. has a 52 week low of $10.04 and a 52 week high of $29.50. The firm has a 50 day moving average of $27.14 and a 200 day moving average of $23.15.
Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The company had revenue of $99.01 million for the quarter, compared to the consensus estimate of $85.27 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share. Exelixis’s revenue was up 173.1% on a year-over-year basis. Equities research analysts predict that Exelixis, Inc. will post $0.26 EPS for the current year.
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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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