Exelixis, Inc. $EXEL Shares Purchased by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets increased its Exelixis stake by 79.5% in the fourth quarter, buying 495,247 additional shares and bringing its total holdings to 1,117,936 shares valued at about $49 million.
• Exelixis reported better-than-expected quarterly results, with EPS of $0.87 versus $0.75 expected and revenue of $610.81 million, up 10% year over year.
• Despite the earnings beat, insider selling and mixed analyst sentiment remain in focus: CFO Christopher J. Senner and EVP Patrick J. Haley sold shares, while Wall Street’s average rating on the stock is “Hold” with a $47.35 price target.

BNP Paribas Financial Markets boosted its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 79.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,117,936 shares of the biotechnology company's stock after acquiring an additional 495,247 shares during the period. BNP Paribas Financial Markets owned 0.42% of Exelixis worth $48,999,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in EXEL. Farallon Capital Management LLC raised its position in Exelixis by 21.6% in the third quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company's stock valued at $805,412,000 after purchasing an additional 3,466,000 shares during the period. AQR Capital Management LLC raised its position in Exelixis by 20.7% in the third quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company's stock valued at $379,190,000 after purchasing an additional 1,575,280 shares during the period. Invesco Ltd. raised its position in Exelixis by 7.1% in the third quarter. Invesco Ltd. now owns 5,960,525 shares of the biotechnology company's stock valued at $246,170,000 after purchasing an additional 394,897 shares during the period. Dimensional Fund Advisors LP raised its position in Exelixis by 11.2% in the third quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company's stock valued at $172,658,000 after purchasing an additional 419,596 shares during the period. Finally, UBS Group AG raised its position in Exelixis by 40.2% in the fourth quarter. UBS Group AG now owns 3,722,334 shares of the biotechnology company's stock valued at $163,150,000 after purchasing an additional 1,067,265 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EXEL has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on Exelixis from $49.00 to $50.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Stifel Nicolaus boosted their target price on Exelixis from $44.00 to $47.00 and gave the company a "hold" rating in a research report on Wednesday, May 6th. Barclays boosted their target price on Exelixis from $44.00 to $45.00 and gave the company an "equal weight" rating in a research report on Monday, April 20th. Royal Bank Of Canada cut their target price on Exelixis from $46.00 to $43.00 and set a "sector perform" rating on the stock in a research report on Monday, March 2nd. Finally, HC Wainwright boosted their target price on Exelixis from $54.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Exelixis has an average rating of "Hold" and an average price target of $47.35.

Exelixis Trading Down 3.5%

Exelixis stock opened at $48.54 on Wednesday. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $52.96. The stock's fifty day simple moving average is $46.19 and its 200-day simple moving average is $44.29. The firm has a market capitalization of $12.20 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.05 and a beta of 0.41.

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 for the quarter, topping 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 business had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. During the same quarter in the prior year, the company earned $0.55 earnings per share. The company's revenue was up 10.0% on a year-over-year basis. Sell-side analysts predict that Exelixis, Inc. will post 3.18 earnings per share for the current year.

Insider Transactions at Exelixis

In related news, CFO Christopher J. Senner sold 34,901 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total value of $1,745,050.00. Following the transaction, the chief financial officer owned 952,317 shares of the company's stock, valued at $47,615,850. This represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 32,110 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total value of $1,599,399.10. Following the completion of the transaction, the executive vice president directly owned 357,638 shares in the company, valued at $17,813,948.78. This trade represents a 8.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 205,433 shares of company stock valued at $9,930,259 over the last ninety days. Company insiders own 2.60% of the company's stock.

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.

Want to see what other hedge funds are holding EXEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exelixis, Inc. (NASDAQ:EXEL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.