Rhenman Partners Asset Management Ab buys $7,512,000 stake in Exelixis (EXEL)

Exelixis (EXEL) : Rhenman Partners Asset Management Ab scooped up 150,000 additional shares in Exelixis during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 800,000 shares of Exelixis which is valued at $7,512,000.Exelixis makes up approximately 1.20% of Rhenman Partners Asset Management Ab’s portfolio.

Other Hedge Funds, Including , Quantitative Systematic Strategies added EXEL to its portfolio by purchasing 31,047 company shares during the most recent quarter which is valued at $285,011. Exelixis makes up approx 0.12% of Quantitative Systematic Strategies’s portfolio.Old Mutual Global Investors (uk) Ltd. reduced its stake in EXEL by selling 196,947 shares or 27.85% in the most recent quarter. The Hedge Fund company now holds 510,142 shares of EXEL which is valued at $4,428,033. Exelixis makes up approx 0.08% of Old Mutual Global Investors (uk) Ltd.’s portfolio. Simplex Trading sold out all of its stake in EXEL during the most recent quarter. The investment firm sold 14,703 shares of EXEL which is valued $125,417.

Exelixis opened for trading at $10.03 and hit $11.66 on the upside on Thursday, eventually ending the session at $11.07, with a gain of 17.89% or 1.68 points. The heightened volatility saw the trading volume jump to 2,23,86,776 shares. Company has a market cap of $2,532 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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