Strategic Global Advisors LLC Makes New Investment in Exelixis, Inc. $EXEL

Strategic Global Advisors LLC bought a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 97,747 shares of the biotechnology company’s stock, valued at approximately $5,318,000.

Other hedge funds have also recently modified their holdings of the company. Motiv8 Investments LLC purchased a new stake in shares of Exelixis in the fourth quarter worth approximately $26,000. Cassaday & Co Wealth Management LLC purchased a new position in Exelixis during the 1st quarter valued at $27,000. Western Wealth Management LLC purchased a new position in Exelixis during the 1st quarter valued at $29,000. Acumen Wealth Advisors LLC bought a new position in Exelixis in the 4th quarter valued at $29,000. Finally, Activest Wealth Management bought a new position in Exelixis in the 4th quarter valued at $32,000. Institutional investors own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

EXEL has been the subject of several research analyst reports. Truist Financial decreased their target price on Exelixis from $56.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, August 6th. Barclays upped their price target on shares of Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Stifel Nicolaus raised their price target on shares of Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. Morgan Stanley lifted their price objective on shares of Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, UBS Group set a $55.00 price objective on shares of Exelixis in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Exelixis currently has a consensus rating of “Hold” and an average price target of $50.07.

Exelixis Stock Down 1.1%

Shares of NASDAQ EXEL opened at $56.10 on Thursday. The business has a fifty day simple moving average of $54.46 and a two-hundred day simple moving average of $48.88. The firm has a market cap of $13.90 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.69 and a beta of 0.44. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $57.57.

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

Insider Buying and Selling

In related news, Director Mary C. Beckerle sold 9,812 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the sale, the director directly owned 16,079 shares of the company’s stock, valued at $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack L. Wyszomierski sold 3,925 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.55, for a total transaction of $198,408.75. Following the transaction, the director owned 284,384 shares in the company, valued at approximately $14,375,611.20. The trade was a 1.36% 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. Insiders sold a total of 23,549 shares of company stock valued at $1,216,894 over the last three months. 2.60% of the stock is owned by company insiders.

About Exelixis

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.