Dynamic Technology Lab Private Ltd Acquires Shares of 22,791 Exelixis, Inc. (NASDAQ:EXEL)

Dynamic Technology Lab Private 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 22,791 shares of the biotechnology company’s stock, valued at approximately $591,000.

Several other hedge funds have also recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in Exelixis during the third quarter worth approximately $30,000. Park Place Capital Corp bought a new position in shares of Exelixis during the 2nd quarter valued at approximately $45,000. GAMMA Investing LLC raised 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 buying an additional 1,041 shares during the period. Capital Performance Advisors LLP bought a new stake in Exelixis in the third quarter worth $61,000. Finally, Essex Investment Management Co. LLC purchased a new position in Exelixis during the third quarter worth $74,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Exelixis

In other news, EVP Patrick J. Haley sold 41,588 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the transaction, the executive vice president now directly owns 288,665 shares of the company’s stock, valued at approximately $9,918,529.40. This represents a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $26.38, for a total value of $659,500.00. Following the completion of the sale, the executive vice president now directly owns 605,325 shares of the company’s stock, 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. Over the last ninety days, insiders sold 279,736 shares of company stock valued at $9,308,410. 2.85% of the stock is currently owned by insiders.

Exelixis Stock Down 1.4 %

Shares of NASDAQ:EXEL opened at $35.93 on Friday. The firm has a 50 day moving average of $30.44 and a 200 day moving average of $25.90. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 0.92 and a beta of 0.51. Exelixis, Inc. has a 52 week low of $19.20 and a 52 week high of $36.73.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same period in the previous year, the company posted $0.10 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, sell-side analysts expect that Exelixis, Inc. will post 1.69 EPS for the current year.

Wall Street Analyst Weigh In

EXEL has been the subject of several analyst reports. Bank of America raised their target price on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. BMO Capital Markets boosted their target price on Exelixis from $29.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Stifel Nicolaus upped their target price on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. TD Cowen raised their price target on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.44.

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.