Thoroughbred Financial Services LLC Makes New Investment in Exelixis, Inc. (NASDAQ:EXEL)

Key Points

• Thoroughbred Financial Services LLC has acquired 10,000 shares of Exelixis, Inc., valued at approximately $369,000, in the first quarter, according to its recent SEC filing.
• Various institutional investors, including Ruffer LLP and Jupiter Asset Management Ltd., have significantly increased their stakes in Exelixis, now holding 85.27% of the stock collectively.
• Exelixis reported a quarterly earnings per share (EPS) of $0.75, surpassing analysts' expectations, despite a 10.8% decline in revenue compared to the same period last year.

Thoroughbred Financial Services LLC acquired a new position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,000 shares of the biotechnology company's stock, valued at approximately $369,000.

Several other institutional investors have also recently made changes to their positions in the stock. LSV Asset Management grew its position in shares of Exelixis by 0.8% during the fourth quarter. LSV Asset Management now owns 8,169,847 shares of the biotechnology company's stock worth $272,056,000 after purchasing an additional 67,470 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Exelixis by 10.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,630,940 shares of the biotechnology company's stock valued at $254,110,000 after buying an additional 708,312 shares in the last quarter. Invesco Ltd. grew its holdings in Exelixis by 308.1% during the 4th quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company's stock valued at $132,376,000 after buying an additional 3,001,204 shares in the last quarter. AQR Capital Management LLC grew its holdings in Exelixis by 25.7% during the 4th quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company's stock valued at $132,101,000 after buying an additional 810,857 shares in the last quarter. Finally, FMR LLC grew its holdings in Exelixis by 19.7% during the 4th quarter. FMR LLC now owns 2,947,599 shares of the biotechnology company's stock valued at $98,155,000 after buying an additional 485,527 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Insiders Place Their Bets

In related news, EVP Patrick J. Haley sold 126,383 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $47.96, for a total transaction of $6,061,328.68. Following the transaction, the executive vice president directly owned 446,459 shares in the company, valued at $21,412,173.64. The trade was a 22.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stelios Papadopoulos sold 36,508 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $44.35, for a total value of $1,619,129.80. Following the transaction, the director owned 1,279,416 shares in the company, valued at approximately $56,742,099.60. This trade represents a 2.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 456,605 shares of company stock worth $20,966,005. Insiders own 2.82% of the company's stock.

Exelixis Trading Up 0.9%

Shares of NASDAQ:EXEL traded up $0.33 on Friday, reaching $37.72. The company had a trading volume of 1,906,288 shares, compared to its average volume of 3,769,804. Exelixis, Inc. has a 52-week low of $25.12 and a 52-week high of $49.62. The firm's 50 day simple moving average is $42.41 and its 200-day simple moving average is $38.97. The firm has a market capitalization of $10.15 billion, a PE ratio of 18.13, a PEG ratio of 0.78 and a beta of 0.29.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (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 business had revenue of $568.26 million for the quarter, compared to the consensus estimate of $574.36 million. During the same period last year, the business posted $0.84 EPS. The business's revenue was down 10.8% compared to the same quarter last year. As a group, equities research analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on EXEL shares. Wall Street Zen cut Exelixis from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Jefferies Financial Group set a $50.00 price target on Exelixis and gave the company a "buy" rating in a report on Tuesday, June 24th. Morgan Stanley cut their price target on Exelixis from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Tuesday, July 29th. Bank of America raised their price objective on Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Finally, Barclays raised their price objective on Exelixis from $29.00 to $40.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $44.44.

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.