MQS Management LLC Takes $259,000 Position in Exelixis, Inc. (NASDAQ:EXEL)

MQS Management LLC purchased a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,542 shares of the biotechnology company’s stock, valued at approximately $259,000.

A number of other institutional investors have also added to or reduced their stakes in EXEL. Fisher Asset Management LLC grew its position in shares of Exelixis by 232.6% in 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 during the period. Rise Advisors LLC bought a new stake in Exelixis during the first quarter worth about $28,000. Park Place Capital Corp bought a new position in shares of Exelixis during the second quarter valued at approximately $45,000. GAMMA Investing LLC lifted its holdings in shares of Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 1,041 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its position in shares of Exelixis by 537.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 1,746 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 520,990 shares of the company’s stock, valued at $13,024,750. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Maria C. Freire sold 8,250 shares of Exelixis stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total transaction of $219,120.00. Following the transaction, the director now directly owns 91,007 shares in the company, valued at $2,417,145.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were 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 directly owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,858 shares of company stock valued at $7,980,629. 2.85% of the stock is owned by insiders.

Exelixis Price Performance

Shares of EXEL opened at $26.42 on Friday. The firm has a market capitalization of $8.01 billion, a P/E ratio of 41.28, a PEG ratio of 0.58 and a beta of 0.54. Exelixis, Inc. has a one year low of $18.64 and a one year high of $27.83. The business has a fifty day moving average of $25.12 and a 200 day moving average of $23.31.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on EXEL. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research report on Wednesday. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. Royal Bank of Canada reissued an “outperform” rating and set a $27.00 price objective on shares of Exelixis in a research report on Wednesday, August 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a report on Friday. Finally, Oppenheimer reiterated an “outperform” rating and set a $29.00 price target on shares of Exelixis in a 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 issued a strong buy rating to the stock. According to MarketBeat.com, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $27.67.

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.