Grandfield & Dodd LLC Purchases Shares of 27,109 Exelixis, Inc. $EXEL

Grandfield & Dodd LLC bought a new position in Exelixis, Inc. (NASDAQ:EXEL) during the second quarter, Holdings Channel reports. The firm bought 27,109 shares of the biotechnology company’s stock, valued at approximately $1,475,000.

A number of other hedge funds also recently bought and sold shares of EXEL. Motiv8 Investments LLC purchased a new stake in shares of Exelixis during the 4th quarter valued at about $26,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Exelixis during the 1st quarter worth approximately $27,000. Acumen Wealth Advisors LLC bought a new stake in shares of Exelixis during the fourth quarter worth $29,000. Western Wealth Management LLC bought a new stake in Exelixis during the 1st quarter valued at about $29,000. Finally, Activest Wealth Management bought a new stake in shares of Exelixis during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Transactions at Exelixis

In related news, EVP Patrick J. Haley sold 32,110 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the sale, the executive vice president owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. This represents a 8.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sue Gail Eckhardt sold 9,812 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $50.14, for a total value of $491,973.68. Following the completion of the sale, the director owned 16,079 shares of the company’s stock, valued at $806,201.06. This trade represents a 37.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 99,110 shares of company stock valued at $5,004,051. Insiders own 2.60% of the company’s stock.

Exelixis Trading Up 2.1%

Shares of EXEL stock opened at $52.32 on Tuesday. The business’s 50 day moving average is $54.20 and its two-hundred day moving average is $48.28. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57. The company has a market capitalization of $12.96 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.53 and a beta of 0.44.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The company had revenue of $628.69 million during the quarter, compared to analyst estimates of $636.40 million. During the same quarter in the previous year, the firm earned $0.75 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. On average, research analysts predict that Exelixis, Inc. will post 3.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EXEL. Morgan Stanley upped their price objective on shares of Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. TD Cowen increased their price objective on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Citigroup reiterated a “market outperform” rating on shares of Exelixis in a research note on Wednesday, July 22nd. Barclays lifted their price target on Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $49.79.

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.