Quest Partners LLC Purchases 41,270 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Quest Partners LLC increased its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 89,717.4% during the 2nd quarter, Holdings Channel reports. The fund owned 41,316 shares of the biotechnology company’s stock after acquiring an additional 41,270 shares during the period. Quest Partners LLC’s holdings in Exelixis were worth $928,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EXEL. Truist Financial Corp bought a new position in Exelixis during the fourth quarter worth $218,000. Victory Capital Management Inc. boosted its stake in Exelixis by 132.1% during the fourth quarter. Victory Capital Management Inc. now owns 130,731 shares of the biotechnology company’s stock worth $3,136,000 after acquiring an additional 74,410 shares in the last quarter. M&T Bank Corp boosted its stake in Exelixis by 8.3% during the fourth quarter. M&T Bank Corp now owns 11,974 shares of the biotechnology company’s stock worth $287,000 after acquiring an additional 922 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Exelixis by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,364,480 shares of the biotechnology company’s stock worth $80,714,000 after acquiring an additional 28,840 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Exelixis by 88.7% during the fourth quarter. BNP Paribas Financial Markets now owns 450,097 shares of the biotechnology company’s stock worth $10,798,000 after acquiring an additional 211,555 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis Price Performance

Shares of EXEL stock opened at $26.31 on Wednesday. The firm has a 50-day moving average of $24.46 and a 200-day moving average of $23.09. The company has a market cap of $7.98 billion, a P/E ratio of 41.11, a P/E/G ratio of 0.55 and a beta of 0.54. Exelixis, Inc. has a one year low of $18.64 and a one year high of $27.53.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The company had revenue of $637.18 million during the quarter, compared to the consensus estimate of $468.21 million. As a group, research analysts expect that Exelixis, Inc. will post 1.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on EXEL. Royal Bank of Canada reissued an “outperform” rating and set a $27.00 target price on shares of Exelixis in a research note on Wednesday, August 7th. JMP Securities upped their price objective on shares of Exelixis from $27.00 to $29.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and set a $29.00 price objective on shares of Exelixis in a report on Tuesday, July 30th. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. Finally, Truist Financial restated a “buy” rating and set a $33.00 price objective (up previously from $32.00) on shares of Exelixis in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.43.

Insider Buying and Selling

In related news, CFO Christopher J. Senner sold 125,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the completion of the sale, the chief financial officer now owns 721,680 shares in the company, valued at $19,622,479.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Christopher J. Senner sold 125,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the completion of the sale, the chief financial officer now owns 721,680 shares in the company, valued at $19,622,479.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $25.79, for a total transaction of $515,800.00. Following the sale, the executive vice president now owns 630,325 shares of the company’s stock, valued at approximately $16,256,081.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 302,858 shares of company stock worth $7,980,629. 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.