Point72 Asia Singapore Pte. Ltd. Invests $657,000 in Exelixis, Inc. (NASDAQ:EXEL)

Point72 Asia Singapore Pte. Ltd. bought a new position in Exelixis, Inc. (NASDAQ:EXEL) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 25,308 shares of the biotechnology company’s stock, valued at approximately $657,000.

A number of other large investors have also recently made changes to their positions in EXEL. Tidal Investments LLC increased its holdings in shares of Exelixis by 10.0% in the 1st quarter. Tidal Investments LLC now owns 9,710 shares of the biotechnology company’s stock worth $230,000 after buying an additional 886 shares during the last quarter. Cetera Advisors LLC bought a new position in Exelixis during the 1st quarter valued at about $327,000. DekaBank Deutsche Girozentrale grew its holdings in Exelixis by 13.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 429,690 shares of the biotechnology company’s stock valued at $10,035,000 after purchasing an additional 49,597 shares during the last quarter. Park Place Capital Corp bought a new position in Exelixis during the 2nd quarter valued at about $45,000. Finally, GAMMA Investing LLC grew 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 valued at $45,000 after purchasing an additional 1,041 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial upped their price target on shares of Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JMP Securities reissued a “market outperform” rating and issued a $29.00 price objective on shares of Exelixis in a research report on Friday, October 11th. Wells Fargo & Company boosted their price objective on shares of Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group initiated coverage on shares of Exelixis in a research report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, Guggenheim boosted their price objective on shares of Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $31.44.

Insider Buying and Selling at Exelixis

In other news, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the sale, the executive vice president now owns 278,665 shares in the company, valued at $9,828,514.55. This represents a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the sale, the executive vice president now owns 605,325 shares in the company, valued at $15,968,473.50. The trade was a 3.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,736 shares of company stock worth $9,308,410. 2.85% of the stock is owned by corporate insiders.

Exelixis Stock Up 1.5 %

NASDAQ:EXEL opened at $36.46 on Monday. Exelixis, Inc. has a 52 week low of $19.20 and a 52 week high of $36.97. The firm has a 50 day moving average of $30.82 and a 200 day moving average of $26.11. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 0.92 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same quarter in the prior year, the business posted $0.10 EPS. Exelixis’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, analysts expect that Exelixis, Inc. will post 1.69 EPS for the current year.

Exelixis Company 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.