Victory Capital Management Inc. Acquires Shares of 53,341 Exelixis, Inc. (EXEL)

Victory Capital Management Inc. acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 53,341 shares of the biotechnology company’s stock, valued at approximately $1,156,000.

A number of other institutional investors have also recently added to or reduced their stakes in EXEL. Fortaleza Asset Management Inc. bought a new stake in shares of Exelixis during the first quarter worth approximately $106,000. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Exelixis during the fourth quarter worth approximately $169,000. Klingenstein Fields & Co. LLC bought a new stake in shares of Exelixis during the first quarter worth approximately $217,000. Highbridge Capital Management LLC boosted its stake in shares of Exelixis by 114.4% in the fourth quarter. Highbridge Capital Management LLC now owns 15,223 shares of the biotechnology company’s stock worth $227,000 after buying an additional 8,123 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in shares of Exelixis during the fourth quarter worth approximately $247,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

Exelixis, Inc. (EXEL) opened at 24.02 on Thursday. The company has a 50-day moving average price of $20.39 and a 200-day moving average price of $19.92. The firm has a market cap of $7.03 billion, a PE ratio of 1143.81 and a beta of 1.98. Exelixis, Inc. has a one year low of $7.20 and a one year high of $24.85.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Monday, May 1st. The biotechnology company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. Exelixis had a net margin of 1.37% and a return on equity of 126.82%. The business had revenue of $80.90 million for the quarter, compared to analysts’ expectations of $65.23 million. During the same period in the previous year, the company posted ($0.27) EPS. Exelixis’s revenue was up 425.3% on a year-over-year basis. Equities analysts predict that Exelixis, Inc. will post $0.18 earnings per share for the current fiscal year.

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A number of equities research analysts have commented on the company. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Exelixis in a report on Monday, June 5th. Needham & Company LLC assumed coverage on Exelixis in a report on Friday, March 31st. They set a “buy” rating and a $28.00 price objective on the stock. William Blair restated an “outperform” rating on shares of Exelixis in a report on Friday, June 16th. Cann restated a “hold” rating on shares of Exelixis in a report on Wednesday, April 19th. Finally, Zacks Investment Research cut Exelixis from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $18.37.

In other news, EVP Jeffrey Hessekiel sold 6,884 shares of the business’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $21.02, for a total transaction of $144,701.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patrick J. Haley sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $18.46, for a total transaction of $92,300.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 731,681 shares of company stock worth $16,141,855. 5.10% of the stock is currently owned by corporate insiders.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.

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