Landscape Capital Management L.L.C. Takes $721,000 Position in Exelixis, Inc. (NASDAQ:EXEL)

Landscape Capital Management L.L.C. bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,770 shares of the biotechnology company’s stock, valued at approximately $721,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC raised its holdings in Exelixis by 48.2% during the third quarter. Intech Investment Management LLC now owns 232,041 shares of the biotechnology company’s stock worth $6,021,000 after purchasing an additional 75,489 shares in the last quarter. Moran Wealth Management LLC raised its stake in Exelixis by 59.1% during the 3rd quarter. Moran Wealth Management LLC now owns 29,946 shares of the biotechnology company’s stock worth $777,000 after acquiring an additional 11,119 shares in the last quarter. Grandfield & Dodd LLC purchased a new stake in Exelixis in the third quarter valued at $312,000. Advisors Asset Management Inc. boosted its stake in Exelixis by 3.2% in the third quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock valued at $515,000 after acquiring an additional 609 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Exelixis during the third quarter worth about $1,972,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Performance

Exelixis stock opened at $35.61 on Friday. The company has a market cap of $10.17 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 0.88 and a beta of 0.51. Exelixis, Inc. has a one year low of $19.20 and a one year high of $36.60. The business has a fifty day moving average of $29.90 and a two-hundred day moving average of $25.60.

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

Insider Transactions at Exelixis

In related news, EVP Jeffrey Hessekiel sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.79, for a total value of $515,800.00. Following the sale, the executive vice president now directly owns 630,325 shares in the company, valued at $16,256,081.75. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the transaction, the executive vice president now owns 498,945 shares of the company’s stock, valued at $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 289,736 shares of company stock valued at $9,471,510 in the last quarter. 2.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

EXEL has been the subject of several research reports. Guggenheim boosted their target price on Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Bank of America increased their price objective on Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. UBS Group assumed coverage on shares of Exelixis in a research note on Thursday, September 19th. They set a “neutral” rating and a $30.00 price target for the company. Finally, Morgan Stanley lifted their price objective on shares of Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.44.

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.