OMERS ADMINISTRATION Corp Takes Position in Exelixis, Inc. $EXEL

Key Points

• OMERS Administration Corp. initiated a position in Exelixis, purchasing 31,547 shares worth approximately $1.716 million during the second quarter. Institutional investors collectively own 85.27% of the company.
• Exelixis reported quarterly EPS of $0.91, exceeding the $0.85 analyst consensus, while revenue rose 10.6% year over year to $628.69 million, slightly below estimates.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $50.07, below the stock’s reported $56.10 price. Insiders sold 23,549 shares worth about $1.22 million during the last quarter.

OMERS ADMINISTRATION Corp bought a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 31,547 shares of the biotechnology company's stock, valued at approximately $1,716,000.

Several other hedge funds also recently bought and sold shares of the company. Motiv8 Investments LLC bought a new position in shares of Exelixis in the fourth quarter worth about $26,000. Cassaday & Co Wealth Management LLC bought a new stake in Exelixis during the 1st quarter valued at approximately $27,000. Acumen Wealth Advisors LLC bought a new stake in Exelixis during the 4th quarter valued at approximately $29,000. Western Wealth Management LLC purchased a new position in Exelixis in the 1st quarter worth approximately $29,000. Finally, Activest Wealth Management purchased a new position in Exelixis in the 4th quarter worth approximately $32,000. Institutional investors own 85.27% of the company's stock.

Exelixis Stock Performance

EXEL stock opened at $56.10 on Thursday. The firm has a fifty day moving average price of $54.46 and a 200 day moving average price of $48.88. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $57.57. The firm has a market cap of $13.90 billion, a PE 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 released its quarterly 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 net margin of 35.33% and a return on equity of 42.17%. The company had revenue of $628.69 million for the quarter, compared to the consensus estimate of $636.40 million. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Exelixis's revenue was up 10.6% on a year-over-year basis. On average, equities analysts predict that Exelixis, Inc. will post 3.18 EPS for the current year.

Insider Activity at Exelixis

In related news, Director Sue Gail Eckhardt sold 9,812 shares of Exelixis stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.14, for a total value of $491,973.68. Following the completion of the transaction, the director owned 16,079 shares in the company, valued at approximately $806,201.06. This trade represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary C. Beckerle sold 9,812 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the sale, the director owned 16,079 shares in the company, valued at approximately $862,799.14. This trade represents a 37.90% 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. In the last quarter, insiders sold 23,549 shares of company stock valued at $1,216,894. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

EXEL has been the topic of several recent analyst reports. Truist Financial reduced their price objective on shares of Exelixis from $56.00 to $52.00 and set a "hold" rating on the stock in a research report on Thursday, August 6th. BMO Capital Markets began coverage on shares of Exelixis in a research note on Tuesday, August 18th. They set a "market perform" rating and a $54.00 target price for the company. Royal Bank Of Canada lifted their price target 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. Leerink Partners cut shares of Exelixis from an "outperform" rating to a "market perform" rating and set a $52.00 price target on the stock. in a research note on Thursday, August 6th. Finally, Citigroup reissued a "market outperform" rating on shares of Exelixis in a report on Wednesday, July 22nd. One research 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 issued a Sell rating to the company's stock. According to MarketBeat.com, Exelixis currently has a consensus rating of "Hold" and an average price target of $50.07.

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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