Canada Pension Plan Investment Board Invests $35.46 Million in Exelixis, Inc. $EXEL

Canada Pension Plan Investment Board acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 651,800 shares of the biotechnology company's stock, valued at approximately $35,464,000. Canada Pension Plan Investment Board owned approximately 0.26% of Exelixis at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Arkadios Wealth Advisors bought a new stake in Exelixis in the 1st quarter valued at $476,000. L2 Asset Management LLC bought a new position in Exelixis during the 2nd quarter worth about $6,839,000. Stephens Investment Management Group LLC raised its stake in shares of Exelixis by 1.1% in the 4th quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company's stock valued at $111,303,000 after purchasing an additional 28,265 shares during the period. JLB & Associates Inc. acquired a new stake in shares of Exelixis in the 2nd quarter valued at about $2,658,000. Finally, Commerce Bank acquired a new stake in shares of Exelixis in the 2nd quarter valued at about $4,295,000. Institutional investors own 85.27% of the company's stock.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $55.26 on Friday. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.67 and a beta of 0.44. The business has a 50-day moving average of $54.52 and a 200-day moving average of $48.96. 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 released its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The business had revenue of $628.69 million for the quarter, compared to the consensus estimate of $636.40 million. During the same quarter in the previous year, the business earned $0.75 earnings per share. Exelixis's quarterly revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts expect that Exelixis, Inc. will post 3.18 EPS for the current year.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Sue Gail Eckhardt sold 9,812 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $50.14, for a total transaction of $491,973.68. Following the transaction, the director owned 16,079 shares of the company's stock, valued at $806,201.06. The trade was a 37.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 company'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 value of $198,408.75. Following the sale, the director owned 284,384 shares in the company, valued at approximately $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. Insiders sold a total of 23,549 shares of company stock worth $1,216,894 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EXEL. Stifel Nicolaus upped their price objective on Exelixis from $47.00 to $51.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. Weiss Ratings raised Exelixis from a "buy (b)" rating to a "buy (a-)" rating in a research report on Tuesday, August 11th. Zacks Research cut Exelixis from a "hold" rating to a "strong sell" rating in a research note on Monday, August 3rd. Wells Fargo & Company upped their price target on Exelixis from $40.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Monday, July 13th. Finally, Wall Street Zen cut shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Exelixis currently has a consensus rating of "Hold" and a consensus price target of $50.07.

About Exelixis

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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