Ontario Teachers Pension Plan Board Acquires 101,181 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Key Points

• Ontario Teachers Pension Plan Board increased its stake in Exelixis, Inc. by 212.8%, acquiring an additional 101,181 shares to own approximately 0.05% worth $5,491,000.
• Exelixis reported a Q2 EPS of $0.75, beating analyst estimates but showing a 10.8% decline in revenue year-over-year.
• The stock has a consensus rating of "Moderate Buy" with a price target of $44.44, as analysts show overall positive sentiment towards the company.

Ontario Teachers Pension Plan Board increased its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 212.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,726 shares of the biotechnology company's stock after purchasing an additional 101,181 shares during the period. Ontario Teachers Pension Plan Board owned approximately 0.05% of Exelixis worth $5,491,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EXEL. GAMMA Investing LLC boosted its holdings in shares of Exelixis by 32.2% in the 1st quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company's stock worth $201,000 after purchasing an additional 1,328 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Exelixis in the 4th quarter worth approximately $17,046,000. Wells Fargo & Company MN lifted its position in Exelixis by 1,637.9% in the 4th quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company's stock worth $24,851,000 after buying an additional 703,343 shares during the last quarter. Park Avenue Securities LLC boosted its stake in Exelixis by 10.6% in the first quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company's stock worth $272,000 after buying an additional 707 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Exelixis by 23.9% in the first quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company's stock worth $9,159,000 after buying an additional 47,845 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Exelixis Stock Performance

NASDAQ EXEL opened at $37.71 on Thursday. The stock has a market cap of $10.15 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 0.78 and a beta of 0.29. Exelixis, Inc. has a fifty-two week low of $24.26 and a fifty-two week high of $49.62. The stock has a 50 day simple moving average of $42.61 and a two-hundred day simple moving average of $38.91.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.12. Exelixis had a return on equity of 27.47% and a net margin of 27.01%. The company had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. During the same quarter in the prior year, the company earned $0.84 earnings per share. The firm's revenue for the quarter was down 10.8% on a year-over-year basis. Sell-side analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on EXEL shares. William Blair reissued an "outperform" rating on shares of Exelixis in a research note on Tuesday, July 29th. Wells Fargo & Company reaffirmed a "market outperform" rating on shares of Exelixis in a report on Thursday, April 17th. UBS Group set a $38.00 target price on shares of Exelixis and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Citigroup boosted their price target on shares of Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Barclays upped their price target on shares of Exelixis from $29.00 to $40.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.44.

Insider Buying and Selling at Exelixis

In related news, Director Stelios Papadopoulos sold 36,508 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $44.35, for a total value of $1,619,129.80. Following the completion of the transaction, the director directly owned 1,279,416 shares of the company's stock, valued at $56,742,099.60. This represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Senner sold 100,000 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $46.00, for a total transaction of $4,600,000.00. Following the completion of the sale, the chief financial officer owned 967,842 shares of the company's stock, valued at $44,520,732. This trade represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 456,605 shares of company stock worth $20,966,005. 2.82% of the stock is owned by corporate insiders.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.

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