Jennison Associates LLC Buys 187,654 Shares of Exelixis, Inc. (EXEL)
Jennison Associates LLC increased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 6.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,061,003 shares of the biotechnology company’s stock after acquiring an additional 187,654 shares during the quarter. Jennison Associates LLC owned approximately 1.03% of Exelixis worth $74,168,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Legal & General Group Plc lifted its holdings in Exelixis by 1.3% during the first quarter. Legal & General Group Plc now owns 84,763 shares of the biotechnology company’s stock worth $1,834,000 after acquiring an additional 1,078 shares during the period. Aperio Group LLC increased its position in Exelixis by 2.7% in the second quarter. Aperio Group LLC now owns 58,345 shares of the biotechnology company’s stock worth $1,437,000 after buying an additional 1,514 shares during the last quarter. Teacher Retirement System of Texas increased its position in Exelixis by 7.0% in the second quarter. Teacher Retirement System of Texas now owns 23,251 shares of the biotechnology company’s stock worth $573,000 after buying an additional 1,517 shares during the last quarter. Meeder Asset Management Inc. increased its position in Exelixis by 26.6% in the second quarter. Meeder Asset Management Inc. now owns 9,957 shares of the biotechnology company’s stock worth $245,000 after buying an additional 2,091 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Exelixis by 17.7% in the second quarter. Oppenheimer & Co. Inc. now owns 14,128 shares of the biotechnology company’s stock worth $348,000 after buying an additional 2,129 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.
Shares of Exelixis, Inc. (NASDAQ:EXEL) traded up $0.20 during mid-day trading on Monday, reaching $26.06. The company’s stock had a trading volume of 240,611 shares, compared to its average volume of 4,257,384. Exelixis, Inc. has a 52-week low of $14.22 and a 52-week high of $32.50. The company has a market capitalization of $7,647.81, a price-to-earnings ratio of 50.69, a P/E/G ratio of 1.25 and a beta of 1.89.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.18. Exelixis had a return on equity of 105.47% and a net margin of 36.80%. The firm had revenue of $152.50 million during the quarter, compared to analyst estimates of $104.91 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s revenue was up 145.2% compared to the same quarter last year. research analysts expect that Exelixis, Inc. will post 0.45 earnings per share for the current year.
In other news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 27,302 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $24.28, for a total value of $662,892.56. The disclosure for this sale can be found here. In the last three months, insiders sold 970,152 shares of company stock valued at $25,923,457. 5.10% of the stock is currently owned by corporate insiders.
EXEL has been the subject of a number of recent research reports. BidaskClub raised Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. Deutsche Bank AG downgraded Exelixis from a “buy” rating to a “hold” rating and raised their target price for the stock from $26.00 to $29.00 in a research report on Thursday, August 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $26.00 price target on shares of Exelixis in a research report on Thursday, September 7th. Leerink Swann cut Exelixis from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $34.00 to $28.00 in a research report on Friday, September 22nd. Finally, TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a research report on Wednesday, October 18th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $31.38.
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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