81,755 Shares in Exelixis, Inc. (EXEL) Acquired by Nordea Investment Management AB
Nordea Investment Management AB purchased a new position in Exelixis, Inc. (NASDAQ:EXEL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 81,755 shares of the biotechnology company’s stock, valued at approximately $2,014,000.
Several other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in Exelixis by 2.0% in the 2nd quarter. FMR LLC now owns 43,748,695 shares of the biotechnology company’s stock valued at $1,077,530,000 after purchasing an additional 857,452 shares during the period. Vanguard Group Inc. increased its holdings in shares of Exelixis by 7.2% in the second quarter. Vanguard Group Inc. now owns 25,441,964 shares of the biotechnology company’s stock worth $626,635,000 after purchasing an additional 1,706,893 shares during the period. Meditor Group Ltd increased its holdings in shares of Exelixis by 5.5% in the second quarter. Meditor Group Ltd now owns 20,229,713 shares of the biotechnology company’s stock worth $498,258,000 after purchasing an additional 1,046,000 shares during the period. BlackRock Inc. increased its holdings in shares of Exelixis by 33,678.5% in the first quarter. BlackRock Inc. now owns 19,155,466 shares of the biotechnology company’s stock worth $415,099,000 after purchasing an additional 19,098,757 shares during the period. Finally, State Street Corp increased its holdings in shares of Exelixis by 2.1% in the first quarter. State Street Corp now owns 7,710,338 shares of the biotechnology company’s stock worth $167,087,000 after purchasing an additional 157,199 shares during the period. 79.20% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Christopher J. Senner sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.79, for a total value of $2,679,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Morrissey sold 300,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $26.90, for a total value of $8,070,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 970,152 shares of company stock valued at $25,923,457. Company insiders own 5.10% of the company’s stock.
EXEL has been the topic of a number of recent analyst reports. Leerink Swann downgraded Exelixis from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $34.00 to $28.00 in a research report on Friday, September 22nd. BidaskClub upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 25th. Royal Bank Of Canada began coverage on Exelixis in a research note on Thursday, September 14th. They issued an “outperform” rating and a $32.00 target price on the stock. TheStreet raised Exelixis from a “c” rating to a “b-” rating in a report on Monday, August 7th. Finally, Cowen and Company reiterated an “outperform” rating on shares of Exelixis in a research report on Thursday, August 10th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $29.50.
Shares of Exelixis, Inc. (NASDAQ EXEL) opened at 24.41 on Wednesday. The firm has a 50-day moving average price of $26.58 and a 200 day moving average price of $23.69. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 123.28 and a beta of 1.91. Exelixis, Inc. has a 52 week low of $10.04 and a 52 week high of $29.50.
Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported $0.06 EPS 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 business had revenue of $99.01 million during the quarter, compared to the consensus estimate of $85.27 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. The business’s revenue was up 173.1% on a year-over-year basis. On average, analysts forecast that Exelixis, Inc. will post $0.27 EPS for the current fiscal year.
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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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