Havemeyer Place LP Makes New Investment in Exelixis, Inc. $EXEL

Havemeyer Place LP acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,550 shares of the biotechnology company’s stock, valued at approximately $682,000.

Several other large investors have also modified their holdings of the stock. Farallon Capital Management LLC grew its holdings in Exelixis by 21.6% in the third quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock valued at $805,412,000 after purchasing an additional 3,466,000 shares during the period. Assetmark Inc. raised its stake in Exelixis by 1,230.8% during the third quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company’s stock worth $131,994,000 after purchasing an additional 2,955,813 shares during the period. Norges Bank acquired a new position in shares of Exelixis in the 4th quarter valued at $106,460,000. AQR Capital Management LLC boosted its holdings in shares of Exelixis by 20.7% in the 3rd quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock valued at $379,190,000 after purchasing an additional 1,575,280 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of Exelixis by 100.1% during the 3rd quarter. UBS Group AG now owns 2,655,069 shares of the biotechnology company’s stock valued at $109,654,000 after buying an additional 1,328,087 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Down 1.8%

Shares of NASDAQ:EXEL opened at $51.74 on Tuesday. The company has a market capitalization of $13.00 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.52 and a beta of 0.41. The company has a 50 day moving average of $47.15 and a two-hundred day moving average of $44.60. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $52.98.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. The business had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 earnings per share. On average, equities analysts anticipate that Exelixis, Inc. will post 3.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EXEL has been the topic of several research reports. HC Wainwright increased their target price on Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wells Fargo & Company boosted their price target on Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Morgan Stanley upped their price target on Exelixis from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. TD Cowen raised their price objective on Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Exelixis currently has an average rating of “Hold” and an average target price of $47.35.

Insider Buying and Selling

In other Exelixis news, EVP Dana Aftab sold 43,451 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total value of $2,187,757.85. Following the completion of the transaction, the executive vice president directly owned 594,741 shares of the company’s stock, valued at $29,945,209.35. This represents a 6.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Maria C. Freire sold 20,634 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $46.00, for a total value of $949,164.00. Following the completion of the transaction, the director owned 100,819 shares in the company, valued at approximately $4,637,674. This trade represents a 16.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 219,170 shares of company stock worth $10,620,641 over the last quarter. Company insiders own 2.60% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.