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

Point72 Asia Singapore Pte. Ltd. acquired a new position in Exelixis, Inc. (NASDAQ:EXEL) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 25,308 shares of the biotechnology company’s stock, valued at approximately $657,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Farallon Capital Management LLC lifted its holdings in Exelixis by 1.6% in the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after buying an additional 424,000 shares during the period. Renaissance Technologies LLC increased its stake in shares of Exelixis by 0.4% during the second quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock valued at $340,714,000 after purchasing an additional 61,350 shares in the last quarter. LSV Asset Management increased its position in shares of Exelixis by 107.7% during the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after acquiring an additional 2,989,021 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Exelixis by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock valued at $115,434,000 after acquiring an additional 349,837 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Exelixis by 12.7% during the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after acquiring an additional 370,199 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Performance

EXEL opened at $36.46 on Monday. Exelixis, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $36.97. The firm’s fifty day moving average is $30.82 and its 200 day moving average is $26.11. The stock has a market cap of $10.41 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 0.92 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share 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 company had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same quarter in the previous year, the company earned $0.10 EPS. Exelixis’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, equities research analysts predict that Exelixis, Inc. will post 1.69 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on EXEL. Morgan Stanley raised their price target on shares of Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. HC Wainwright reissued a “buy” rating and set a $29.00 price target on shares of Exelixis in a research report on Wednesday, September 18th. Bank of America raised their price target on shares of Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company raised their price target 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. Finally, TD Cowen lifted their target price on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.44.

Insider Activity at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of Exelixis 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 directly owns 278,665 shares in the company, valued at approximately $9,828,514.55. The trade was a 3.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dana Aftab sold 96,986 shares of Exelixis stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the completion of the sale, the executive vice president now owns 498,945 shares in the company, valued at approximately $17,463,075. This represents a 16.27 % decrease in their ownership of the stock. 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 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.