Weiss Asset Management LP Invests $497,000 in Exelixis, Inc. $EXEL

Weiss Asset Management LP bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,580 shares of the biotechnology company’s stock, valued at approximately $497,000.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Exelixis by 81.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock worth $1,592,000 after purchasing an additional 19,407 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Exelixis by 4.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock valued at $54,153,000 after purchasing an additional 68,133 shares during the period. Focus Partners Wealth lifted its stake in shares of Exelixis by 83.4% in the 1st quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock valued at $1,420,000 after purchasing an additional 17,483 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Exelixis by 134.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after buying an additional 944 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its holdings in Exelixis by 23.8% during the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock worth $633,000 after buying an additional 2,764 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $56.51 on Wednesday. The firm has a market cap of $14.20 billion, a PE ratio of 18.77, a PEG ratio of 1.61 and a beta of 0.42. The firm has a fifty day moving average of $53.44 and a 200 day moving average of $47.38. Exelixis, Inc. has a one year low of $33.76 and a one year high of $57.57.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. The company had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. On average, equities analysts predict that Exelixis, Inc. will post 3.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EXEL. Royal Bank Of Canada raised their price target on shares of Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Truist Financial increased their target price on shares of Exelixis from $54.00 to $56.00 and gave the stock a “hold” rating in a research note on Tuesday, July 7th. HC Wainwright restated a “buy” rating and set a $56.00 target price on shares of Exelixis in a research report on Thursday, July 2nd. Citizens Jmp lifted their price target on Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research note on Wednesday, June 24th. Finally, Weiss Ratings cut Exelixis from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $49.29.

Insider Buying and Selling at Exelixis

In related news, CFO Christopher J. Senner sold 34,901 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $50.00, for a total value of $1,745,050.00. Following the transaction, the chief financial officer directly owned 952,317 shares of the company’s stock, valued at approximately $47,615,850. This trade represents a 3.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 43,451 shares of Exelixis stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total value of $2,187,757.85. Following the completion of the sale, the executive vice president owned 594,741 shares in the company, valued at approximately $29,945,209.35. The trade was a 6.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 219,170 shares of company stock valued at $10,620,641. Corporate insiders own 2.60% of the company’s stock.

Exelixis Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.