Exelixis, Inc. (NASDAQ:EXEL) Shares Acquired by First Eagle Investment Management LLC

First Eagle Investment Management LLC grew its position in Exelixis, Inc. (NASDAQ:EXEL) by 7.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,887 shares of the biotechnology company’s stock after purchasing an additional 1,100 shares during the quarter. First Eagle Investment Management LLC’s holdings in Exelixis were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of EXEL. Norges Bank acquired a new stake in shares of Exelixis in the 4th quarter valued at $73,449,000. Coldstream Capital Management Inc. acquired a new stake in shares of Exelixis in the 4th quarter valued at $216,000. Quest Partners LLC acquired a new stake in shares of Exelixis in the 4th quarter valued at $352,000. Franklin Resources Inc. raised its holdings in shares of Exelixis by 23.6% in the 4th quarter. Franklin Resources Inc. now owns 434,471 shares of the biotechnology company’s stock valued at $10,423,000 after purchasing an additional 82,916 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Exelixis by 1,125.7% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 165,905 shares of the biotechnology company’s stock valued at $3,980,000 after purchasing an additional 152,370 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Stock Down 1.5 %

Shares of NASDAQ:EXEL opened at $26.42 on Friday. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 41.28, a PEG ratio of 0.58 and a beta of 0.54. The firm’s 50-day simple moving average is $25.20 and its 200-day simple moving average is $23.35. Exelixis, Inc. has a fifty-two week low of $18.64 and a fifty-two week high of $27.83.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The business had revenue of $637.18 million for the quarter, compared to the consensus estimate of $468.21 million. On average, research analysts forecast that Exelixis, Inc. will post 1.54 EPS for the current year.

Wall Street Analysts Forecast Growth

EXEL has been the topic of a number of analyst reports. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a research report on Friday. UBS Group began coverage on shares of Exelixis in a research report on Thursday. They issued a “neutral” rating and a $30.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 target price on shares of Exelixis in a research report on Wednesday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $29.00 target price on shares of Exelixis in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Exelixis currently has an average rating of “Moderate Buy” and an average target price of $27.67.

Insider Activity at Exelixis

In related news, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the sale, the director now owns 91,007 shares in the company, valued at $2,417,145.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the sale, the director now owns 91,007 shares in the company, valued at $2,417,145.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 95,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the executive vice president now owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The disclosure for this sale can be found here. Insiders sold 302,858 shares of company stock worth $7,980,629 over the last 90 days. Company insiders own 2.85% of the company’s stock.

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.