Massachusetts Financial Services Co. MA Boosts Stake in Exelixis, Inc. (NASDAQ:EXEL)

Massachusetts Financial Services Co. MA grew its position in Exelixis, Inc. (NASDAQ:EXEL) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 465,048 shares of the biotechnology company’s stock after buying an additional 14,443 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.15% of Exelixis worth $10,450,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC lifted its holdings in Exelixis by 232.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after buying an additional 728 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Exelixis during the first quarter worth $28,000. Park Place Capital Corp acquired a new stake in Exelixis in the second quarter valued at $45,000. GAMMA Investing LLC lifted its holdings in Exelixis by 107.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,041 shares during the last quarter. Finally, EntryPoint Capital LLC raised its position in shares of Exelixis by 537.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 1,746 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group initiated coverage on shares of Exelixis in a report on Thursday. They issued a “neutral” rating and a $30.00 target price for the company. Truist Financial reaffirmed a “buy” rating and set a $33.00 price objective (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. JMP Securities reissued a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $27.00 price target on shares of Exelixis in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Exelixis Stock Performance

EXEL opened at $26.42 on Friday. Exelixis, Inc. has a one year low of $18.64 and a one year high of $27.83. The business’s fifty day moving average is $25.20 and its two-hundred day moving average is $23.35. 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.

Exelixis (NASDAQ:EXEL) last announced 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. The firm had revenue of $637.18 million during the quarter, compared to the consensus estimate of $468.21 million. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. On average, analysts predict that Exelixis, Inc. will post 1.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Jeffrey Hessekiel sold 20,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.79, for a total value of $515,800.00. Following the completion of the transaction, the executive vice president now directly owns 630,325 shares in the company, valued at $16,256,081.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Exelixis news, EVP Jeffrey Hessekiel sold 20,000 shares of Exelixis stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.79, for a total value of $515,800.00. Following the transaction, the executive vice president now owns 630,325 shares in the company, valued at approximately $16,256,081.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 95,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the sale, the executive vice president now owns 520,990 shares of the company’s stock, valued at $13,024,750. The disclosure for this sale can be found here. In the last three months, insiders sold 302,858 shares of company stock valued at $7,980,629. Company insiders own 2.85% of the company’s stock.

Exelixis Profile

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.