Dimensional Fund Advisors LP Buys 39,920 Shares of Exelixis, Inc. $EXEL

Key Points

• Dimensional Fund Advisors increased its Exelixis stake by 0.9% in the first quarter, buying 39,920 more shares and bringing its total holding to 4.3 million shares worth about $184.4 million.
• Exelixis reported strong quarterly results, with EPS of $0.87 beating estimates by $0.12 and revenue of $610.8 million, up 10% year over year.
• Several analysts remain cautious but constructive on the stock: the consensus rating is Hold with an average price target of $49, while Exelixis shares recently traded above that level near $55.37.

Dimensional Fund Advisors LP lifted its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,299,597 shares of the biotechnology company's stock after buying an additional 39,920 shares during the period. Dimensional Fund Advisors LP owned approximately 1.69% of Exelixis worth $184,391,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. 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 acquiring an additional 4,477,029 shares during the last quarter. Norges Bank bought a new stake in Exelixis in the fourth quarter valued at approximately $106,460,000. UBS Group AG boosted its stake in shares of Exelixis by 100.1% during the third quarter. UBS Group AG now owns 2,655,069 shares of the biotechnology company's stock valued at $109,654,000 after purchasing an additional 1,328,087 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Exelixis by 1,821.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,188,105 shares of the biotechnology company's stock valued at $52,075,000 after purchasing an additional 1,126,256 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Exelixis by 111.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,115,456 shares of the biotechnology company's stock valued at $92,720,000 after purchasing an additional 1,113,916 shares during the period. Institutional investors own 85.27% of the company's stock.

Exelixis Stock Performance

Shares of EXEL stock opened at $55.37 on Friday. The firm has a market cap of $13.92 billion, a P/E ratio of 18.40, a P/E/G ratio of 1.60 and a beta of 0.42. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $57.57. The business's 50 day moving average price is $53.16 and its 200-day moving average price is $47.19.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. During the same quarter in the prior year, the company earned $0.55 earnings per share. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities analysts predict that Exelixis, Inc. will post 3.15 EPS for the current year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Dana Aftab sold 43,451 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the transaction, the executive vice president directly owned 594,741 shares of the company's stock, valued at approximately $29,945,209.35. The trade was a 6.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Haley sold 32,110 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was 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 of the company's stock, valued at $17,813,948.78. This trade represents a 8.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 219,170 shares of company stock worth $10,620,641. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on EXEL. Barclays lifted their target price on shares of Exelixis from $45.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 14th. Stifel Nicolaus increased their price target on shares of Exelixis from $44.00 to $47.00 and gave the company a "hold" rating in a research report on Wednesday, May 6th. TD Cowen raised their price target on shares of Exelixis from $51.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. HC Wainwright reissued a "buy" rating and issued a $56.00 price target on shares of Exelixis in a report on Thursday, July 2nd. Finally, Citigroup restated a "market outperform" rating on shares of Exelixis in a research report on Wednesday. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $49.00.

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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