Deutsche Bank AG Takes Position in Exelixis, Inc. $EXEL

Key Points

• Deutsche Bank acquired a new 60,390-share stake in Exelixis during the second quarter, valued at approximately $3.3 million. Institutional investors collectively own 85.27% of the company.
• Exelixis reported quarterly EPS of $0.91, beating estimates of $0.85, while revenue rose 10.6% year over year to $628.7 million, slightly below expectations.
• EXEL shares opened at $56.10, near their 12-month high, despite analysts’ average “Hold” rating and average price target of $50.07; insiders have sold about $1.2 million of stock over the past 90 days.

Deutsche Bank AG acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 60,390 shares of the biotechnology company's stock, valued at approximately $3,286,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in Exelixis by 48.8% during the fourth quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company's stock valued at $598,647,000 after purchasing an additional 4,477,029 shares in the last quarter. Invesco Ltd. raised its position in shares of Exelixis by 1.6% during the 4th quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company's stock valued at $265,379,000 after purchasing an additional 94,218 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Exelixis by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company's stock valued at $184,391,000 after buying an additional 39,920 shares in the last quarter. Morgan Stanley boosted its holdings in Exelixis by 31.0% in the 4th quarter. Morgan Stanley now owns 4,206,656 shares of the biotechnology company's stock worth $184,378,000 after buying an additional 995,949 shares during the period. Finally, UBS Group AG increased its stake in Exelixis by 40.2% in the 4th quarter. UBS Group AG now owns 3,722,334 shares of the biotechnology company's stock worth $163,150,000 after buying an additional 1,067,265 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Trading Down 1.1%

Shares of EXEL stock opened at $56.10 on Thursday. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57. The stock's 50-day moving average price is $54.46 and its 200-day moving average price is $48.88. The stock has a market capitalization of $13.90 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 1.69 and a beta of 0.44.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $628.69 million during the quarter, compared to analyst estimates 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 period in the prior year, the company earned $0.75 earnings per share. As a group, research analysts predict that Exelixis, Inc. will post 3.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on EXEL shares. Stifel Nicolaus boosted their price objective on Exelixis from $47.00 to $51.00 and gave the company a "hold" rating in a research report on Thursday, August 6th. Citigroup reissued a "market outperform" rating on shares of Exelixis in a research note on Wednesday, July 22nd. Barclays boosted their price target on Exelixis from $45.00 to $49.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 14th. Royal Bank Of Canada increased their price objective 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. Finally, BMO Capital Markets began coverage on shares of Exelixis in a report on Tuesday, August 18th. They issued a "market perform" rating and a $54.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $50.07.

Insider Transactions at Exelixis

In other news, Director Mary C. Beckerle sold 9,812 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director directly owned 16,079 shares in the company, valued at approximately $862,799.14. This represents a 37.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 on Monday, June 1st. The shares were sold at an average price of $50.55, for a total transaction of $198,408.75. Following the completion of the transaction, the director directly owned 284,384 shares of the company's stock, valued at approximately $14,375,611.20. This trade represents a 1.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,549 shares of company stock valued at $1,216,894 in the last ninety days. Corporate insiders own 2.60% of the company's stock.

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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