Connor Clark & Lunn Investment Management Ltd. Makes New $1.97 Million Investment in Exelixis, Inc. (NASDAQ:EXEL)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the third quarter, Holdings Channel reports. The firm purchased 75,995 shares of the biotechnology company’s stock, valued at approximately $1,972,000.

Other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Exelixis in the third quarter worth $30,000. Park Place Capital Corp acquired a new stake in shares of Exelixis in the 2nd quarter worth about $45,000. GAMMA Investing LLC raised its holdings in shares of Exelixis by 107.9% during the second 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 last quarter. EntryPoint Capital LLC raised its stake in Exelixis by 537.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 1,746 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Exelixis during the third quarter valued at about $61,000. 85.27% of the stock is currently owned by institutional investors.

Exelixis Stock Performance

Shares of EXEL stock opened at $36.38 on Tuesday. The company has a market capitalization of $10.39 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 0.90 and a beta of 0.51. The stock’s 50 day simple moving average is $30.08 and its 200 day simple moving average is $25.73. Exelixis, Inc. has a twelve month low of $19.20 and a twelve month high of $36.72.

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

Analyst Ratings Changes

Several brokerages recently commented on EXEL. BMO Capital Markets boosted their target price on Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. HC Wainwright reiterated a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research report on Wednesday, September 18th. Finally, Truist Financial increased their target price on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.44.

Insider Activity

In other news, EVP Dana Aftab sold 1,162 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value 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 represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George Poste sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the transaction, the director now directly owns 169,020 shares in the company, valued at $5,746,680. This trade represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 269,736 shares of company stock valued at $8,955,710. 2.85% of the stock is owned by insiders.

About Exelixis

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.