Matrix Capital Management Company LP increased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 8.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,117,460 shares of the biotechnology company’s stock after acquiring an additional 1,225,000 shares during the quarter. Exelixis makes up approximately 12.6% of Matrix Capital Management Company LP’s holdings, making the stock its 2nd biggest holding. Matrix Capital Management Company LP owned approximately 5.14% of Exelixis worth $372,343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EXEL. Legal & General Group Plc boosted its holdings in shares of Exelixis by 1.3% in the 1st quarter. Legal & General Group Plc now owns 84,763 shares of the biotechnology company’s stock valued at $1,834,000 after purchasing an additional 1,078 shares during the last quarter. Aperio Group LLC lifted its holdings in shares of Exelixis by 2.7% during the 2nd quarter. Aperio Group LLC now owns 58,345 shares of the biotechnology company’s stock valued at $1,437,000 after acquiring an additional 1,514 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Exelixis by 7.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,251 shares of the biotechnology company’s stock valued at $573,000 after acquiring an additional 1,517 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of 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. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Exelixis by 17.7% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,128 shares of the biotechnology company’s stock valued at $348,000 after acquiring an additional 2,129 shares in the last quarter. Hedge funds and other institutional investors own 79.20% of the company’s stock.

Several equities analysts recently weighed in on the stock. Leerink Swann lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $34.00 to $28.00 in a report on Friday, September 22nd. BidaskClub upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Royal Bank Of Canada assumed coverage on shares of Exelixis in a report on Thursday, September 14th. They set an “outperform” rating and a $32.00 target price on the stock. TheStreet upgraded shares of Exelixis from a “c” rating to a “b-” rating in a report on Monday, August 7th. Finally, Cowen and Company restated an “outperform” rating on shares of Exelixis in a 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 issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $29.50.

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In related news, insider Gisela Schwab sold 100,000 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $23.79, for a total transaction of $2,379,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stelios Papadopoulos sold 72,210 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $27.76, for a total transaction of $2,004,549.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 970,152 shares of company stock valued at $25,923,457. Corporate insiders own 5.10% of the company’s stock.

Exelixis, Inc. (EXEL) traded down 0.08% during midday trading on Friday, hitting $25.71. 2,525,338 shares of the stock traded hands. Exelixis, Inc. has a 1-year low of $10.04 and a 1-year high of $29.50. The stock has a market cap of $7.56 billion, a PE ratio of 129.85 and a beta of 1.91. The company has a 50-day moving average of $26.46 and a 200-day moving average of $23.74.

Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The firm had revenue of $99.01 million during the quarter, compared to analysts’ expectations of $85.27 million. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The business’s quarterly revenue was up 173.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.15) EPS. On average, equities analysts expect that Exelixis, Inc. will post $0.27 EPS for the current fiscal year.

About Exelixis

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.

Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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