Squarepoint Ops LLC Buys 446,635 Shares of Exelixis, Inc. $EXEL

Squarepoint Ops LLC boosted its stake in Exelixis, Inc. (NASDAQ:EXEL) by 1,649.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 473,707 shares of the biotechnology company’s stock after buying an additional 446,635 shares during the period. Squarepoint Ops LLC’s holdings in Exelixis were worth $25,774,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Exelixis by 81.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock worth $1,592,000 after acquiring an additional 19,407 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Exelixis by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock worth $54,153,000 after purchasing an additional 68,133 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Exelixis by 83.4% in the 1st quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock valued at $1,420,000 after purchasing an additional 17,483 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Exelixis by 134.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 944 shares in the last quarter. Finally, Sivia Capital Partners LLC increased its stake in shares of Exelixis by 23.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock valued at $633,000 after purchasing an additional 2,764 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $57.67 on Wednesday. The company’s 50 day moving average price is $55.23 and its 200-day moving average price is $49.74. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $59.72. The company has a market capitalization of $14.29 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.76 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $628.69 million during the quarter, compared to analysts’ expectations of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. Analysts forecast that Exelixis, Inc. will post 3.19 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Mary Beckerle sold 9,812 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the sale, the director owned 16,079 shares in the company, valued at $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on EXEL. Leerink Partners downgraded Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 target price for the company. in a research note on Thursday, August 6th. BMO Capital Markets started coverage on shares of Exelixis in a research note on Tuesday, August 18th. They issued a “market perform” rating and a $54.00 price target on the stock. Royal Bank Of Canada lifted their price target on shares of Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Zacks Research upgraded shares of Exelixis from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Finally, Morgan Stanley increased their price objective on shares of Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $50.07.

Exelixis 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.