Arbejdsmarkedets Tillaegspension Acquires 53,988 Shares of Exelixis, Inc. $EXEL

Key Points

• Arbejdsmarkedets Tillaegspension increased its Exelixis stake by 9.7% in the first quarter, buying 53,988 more shares and bringing its total to 609,492 shares worth about $26.1 million.
• Wall Street remains cautious but generally constructive on Exelixis: the stock has nine Buy ratings, nine Holds, and two Sells, with an average analyst price target of $47.93.
• Exelixis recently reported better-than-expected quarterly results, posting EPS of $0.87 versus $0.75 expected and revenue of $610.8 million, while the stock has also seen notable insider selling in recent months.

Arbejdsmarkedets Tillaegspension lifted its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 9.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 609,492 shares of the biotechnology company's stock after buying an additional 53,988 shares during the quarter. Exelixis makes up about 0.7% of Arbejdsmarkedets Tillaegspension's investment portfolio, making the stock its 14th largest position. Arbejdsmarkedets Tillaegspension owned about 0.24% of Exelixis worth $26,141,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Motiv8 Investments LLC purchased a new position in Exelixis in the fourth quarter worth about $26,000. Anchor Investment Management LLC boosted its stake in shares of Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company's stock worth $25,000 after purchasing an additional 500 shares during the period. Acumen Wealth Advisors LLC purchased a new position in shares of Exelixis during the 4th quarter worth about $29,000. Activest Wealth Management purchased a new position in Exelixis during the 4th quarter valued at $32,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Exelixis by 1,380.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company's stock worth $34,000 after purchasing an additional 773 shares during the last quarter. Institutional investors own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

EXEL has been the subject of a number of recent research reports. UBS Group reissued a "buy" rating on shares of Exelixis in a research note on Thursday, July 2nd. TD Cowen raised their price target on shares of Exelixis from $51.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Citizens Jmp raised their price target on Exelixis from $50.00 to $55.00 and gave the stock a "market outperform" rating in a report on Wednesday, June 24th. Morgan Stanley reissued a "positive" rating on shares of Exelixis in a research report on Monday, June 22nd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $56.00 price target on shares of Exelixis in a research report on Thursday, July 2nd. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $47.93.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 32,110 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the transaction, the executive vice president owned 357,638 shares in the company, valued at approximately $17,813,948.78. This represents a 8.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 43,451 shares of Exelixis stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total value of $2,187,757.85. Following the completion of the sale, the executive vice president owned 594,741 shares in the company, valued at approximately $29,945,209.35. This trade represents a 6.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 219,170 shares of company stock valued at $10,620,641. 2.60% of the stock is owned by company insiders.

Exelixis Stock Performance

Shares of EXEL stock opened at $56.50 on Monday. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $57.57. The stock has a market cap of $14.20 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.63 and a beta of 0.42. The company's 50-day moving average price is $51.70 and its 200-day moving average price is $46.47.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm had revenue of $610.81 million for the quarter, compared to the consensus estimate of $607.51 million. During the same quarter in the previous year, the business earned $0.55 EPS. The company's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts predict that Exelixis, Inc. will post 3.16 EPS for the current year.

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.

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