Farallon Capital Management adds Exelixis (EXEL) to its portfolio

Exelixis (EXEL) : Farallon Capital Management added new position in Exelixis during the most recent quarter end. The investment management firm now holds 4,915,000 shares of Exelixis which is valued at $52,393,900 , the company said in a statement filed on Aug 15, 2016 with the SEC.Exelixis makes up approximately 0.98% of Farallon Capital Management’s portfolio.

Other Hedge Funds, Including , A.r.t. Advisors sold out all of its stake in EXEL during the most recent quarter. The investment firm sold 205,144 shares of EXEL which is valued $2,186,835. Argentus Capital Management added EXEL to its portfolio by purchasing 10,248 company shares during the most recent quarter which is valued at $109,244. Exelixis makes up approx 0.05% of Argentus Capital Management’s portfolio. Tfs Capital added EXEL to its portfolio by purchasing 28,428 company shares during the most recent quarter which is valued at $303,042. Exelixis makes up approx 0.05% of Tfs Capital’s portfolio.Acrospire Investment Management boosted its stake in EXEL in the latest quarter, The investment management firm added 12,451 additional shares and now holds a total of 15,253 shares of Exelixis which is valued at $166,715. Exelixis makes up approx 0.12% of Acrospire Investment Management’s portfolio.

Exelixis opened for trading at $11.13 and hit $11.37 on the upside on Thursday, eventually ending the session at $11.35, with a gain of 1.79% or 0.2 points. The heightened volatility saw the trading volume jump to 38,69,528 shares. Company has a market cap of $2,614 M.

On the company’s financial health, Exelixis reported $-0.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.27. The company had revenue of $36.25 million for the quarter, compared to analysts expectations of $16.37 million. The company’s revenue was up 353.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.22 EPS.

Many Wall Street Analysts have commented on Exelixis. Company shares were Reiterated by Stifel on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 12 from a previous price target of $10 .Company shares were Reiterated by Leerink Partners on Jun 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 10 from a previous price target of $8 .

Exelixis Inc. is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. The Company is focusing on resources development and commercialization of COMETRIQ (cabozantinib) for the treatment of progressive metastatic medullary thyroid cancer (MTC) in the United States. The Company’s other programs include metastatic renal cell carcinoma (mRCC) a phase III trial comparing cabozantinib to everolimus in patients with mRCC who have experienced disease progression following treatment with at least one prior VEGFR TKI; CELESTIAL a phase III trial comparing cabozantinib with placebo in patients with advanced hepatocellular cancer (HCC) who have previously been treated with sorafenib; NSCLC (non-small cell lung cancer); mCRPC (metastatic castration-resistant prostate cancer) and XL888 a small molecule oral inhibitor of Heat Shock Protein 90 (HSP90).

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