CIBC Asset Management Inc Takes Position in Exelixis, Inc. (NASDAQ:EXEL)

CIBC Asset Management Inc bought a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,758 shares of the biotechnology company’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Exelixis in the third quarter worth about $30,000. Park Place Capital Corp purchased a new stake in Exelixis in the 2nd quarter worth approximately $45,000. GAMMA Investing LLC raised its stake in Exelixis by 107.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 1,041 shares during the period. EntryPoint Capital LLC lifted its holdings in Exelixis by 537.2% during the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 1,746 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Exelixis in the third quarter worth approximately $61,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Trading Up 2.2 %

EXEL opened at $35.61 on Friday. The stock has a 50-day moving average of $29.90 and a 200 day moving average of $25.57. Exelixis, Inc. has a 12 month low of $19.20 and a 12 month high of $36.60. The firm has a market cap of $10.17 billion, a P/E ratio of 22.83, a P/E/G ratio of 0.87 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $490.31 million. During the same quarter in the previous year, the business earned $0.10 EPS. The company’s quarterly revenue was up 14.3% on a year-over-year basis. On average, research analysts forecast that Exelixis, Inc. will post 1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on EXEL. UBS Group started coverage on shares of Exelixis in a research note on Thursday, September 19th. They set a “neutral” rating and a $30.00 target price on the stock. Stephens boosted their price objective on Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. BMO Capital Markets increased their target price on Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Exelixis in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.44.

Insider Buying and Selling at Exelixis

In related news, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at approximately $15,666,873. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value of $659,500.00. Following the completion of the sale, the executive vice president now owns 605,325 shares in the company, valued at approximately $15,968,473.50. The trade was a 3.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 289,736 shares of company stock worth $9,471,510 over the last quarter. Insiders own 2.85% of the company’s stock.

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.