78,937 Shares in Exelixis, Inc. $EXEL Acquired by Commerce Bank

Key Points

• Commerce Bank acquired 78,937 Exelixis shares during the second quarter, valued at approximately $4.3 million. Institutional investors and hedge funds collectively own 85.27% of the company.
• Exelixis reported quarterly EPS of $0.91, exceeding analyst estimates of $0.85, while revenue rose 10.6% year over year to $628.7 million. Shares recently traded at $54.55, near their 52-week high of $57.57.
• Analysts maintain a mixed outlook, with the stock holding an overall “Hold” rating and an average price target of $50.07, below its recent trading price. Insiders have sold 23,549 shares worth roughly $1.2 million over the past three months.

Commerce Bank bought a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 78,937 shares of the biotechnology company's stock, valued at approximately $4,295,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Exelixis during the second quarter valued at about $1,581,991,000. AQR Capital Management LLC grew its position in Exelixis by 48.8% during the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company's stock worth $598,647,000 after purchasing an additional 4,477,029 shares during the last quarter. Norges Bank acquired a new position in Exelixis during the 4th quarter valued at approximately $106,460,000. Bank of New York Mellon Corp acquired a new position in Exelixis during the 2nd quarter valued at approximately $107,803,000. Finally, UBS Group AG raised its holdings in shares of Exelixis by 100.1% in the third quarter. UBS Group AG now owns 2,655,069 shares of the biotechnology company's stock worth $109,654,000 after buying an additional 1,328,087 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Performance

Shares of Exelixis stock opened at $54.55 on Tuesday. The firm has a 50-day simple moving average of $54.29 and a two-hundred day simple moving average of $48.69. The company has a market cap of $13.52 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.61 and a beta of 0.44. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $57.57.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, beating analysts' consensus estimates 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 business's revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. Equities research analysts forecast that Exelixis, Inc. will post 3.18 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EXEL. Morgan Stanley boosted their price objective on shares of Exelixis from $50.00 to $53.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. Wells Fargo & Company raised their target price on Exelixis from $40.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Monday, July 13th. Wall Street Zen cut Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Citizens Jmp boosted their price target on Exelixis from $50.00 to $55.00 and gave the company a "market outperform" rating in a research note on Wednesday, June 24th. Finally, Royal Bank Of Canada increased their price objective on Exelixis from $43.00 to $46.00 and gave the company a "sector perform" rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $50.07.

Insider Transactions at Exelixis

In related news, Director Sue Gail Eckhardt sold 9,812 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $50.14, for a total value of $491,973.68. Following the completion of the sale, the director owned 16,079 shares of the company's stock, valued at approximately $806,201.06. This represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack L. Wyszomierski sold 3,925 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $50.55, for a total transaction of $198,408.75. Following the sale, the director owned 284,384 shares of the company's stock, valued at $14,375,611.20. This represents a 1.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 23,549 shares of company stock valued at $1,216,894. Corporate 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.

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