Maverick Capital Ltd. Invests $4.63 Million in Exelixis, Inc. (EXEL) Stock
Maverick Capital Ltd. acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 188,010 shares of the biotechnology company’s stock, valued at approximately $4,631,000. Maverick Capital Ltd. owned 0.06% of Exelixis at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Great West Life Assurance Co. Can increased its stake in shares of Exelixis by 26.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 28,342 shares of the biotechnology company’s stock valued at $613,000 after purchasing an additional 6,000 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Exelixis by 7.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,264,985 shares of the biotechnology company’s stock valued at $27,412,000 after purchasing an additional 86,522 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Exelixis in the 1st quarter valued at $1,232,000. Ameriprise Financial Inc. increased its stake in shares of Exelixis by 4.8% in the 1st quarter. Ameriprise Financial Inc. now owns 396,970 shares of the biotechnology company’s stock valued at $8,601,000 after purchasing an additional 18,192 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Exelixis by 19.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 355,510 shares of the biotechnology company’s stock valued at $7,704,000 after purchasing an additional 58,068 shares during the last quarter. Hedge funds and other institutional investors own 79.20% of the company’s stock.
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In related news, VP Patrick J. Haley sold 60,640 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $27.21, for a total value of $1,650,014.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stelios Papadopoulos sold 72,210 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $27.76, for a total value of $2,004,549.60. The disclosure for this sale can be found here. In the last three months, insiders sold 970,152 shares of company stock worth $25,923,457. 5.10% of the stock is owned by insiders.
Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of Exelixis in a research note on Monday. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Exelixis in a research note on Monday, September 25th. Leerink Swann lowered Exelixis from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $34.00 to $28.00 in a research note on Friday, September 22nd. Royal Bank Of Canada assumed coverage on Exelixis in a research note on Thursday, September 14th. They issued an “outperform” rating and a $32.00 price target on the stock. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $29.00 price target on shares of Exelixis in a research note on Sunday, September 10th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $29.50.
Exelixis, Inc. (NASDAQ EXEL) traded up 1.74% during midday trading on Thursday, hitting $25.70. The company had a trading volume of 1,556,678 shares. The firm has a market capitalization of $7.55 billion, a P/E ratio of 129.80 and a beta of 1.91. The firm’s 50 day moving average is $26.53 and its 200-day moving average is $23.70. Exelixis, Inc. has a 52 week low of $10.04 and a 52 week high of $29.50.
Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. The business had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $85.27 million. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The firm’s revenue was up 173.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. On average, equities research analysts expect that Exelixis, Inc. will post $0.27 EPS for the current fiscal year.
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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