110,642 Shares of Exelixis, Inc. $EXEL Purchased by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 110,642 shares of the biotechnology company’s stock, valued at approximately $6,463,000.

Several other hedge funds have also recently bought and sold shares of EXEL. Signal Advisors Wealth LLC acquired a new stake in Exelixis during the 3rd quarter valued at $293,000. Ifrah Financial Services Inc. bought a new position in shares of Exelixis in the third quarter worth about $1,148,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Exelixis during the third quarter worth approximately $329,000. Wedmont Private Capital increased its holdings in shares of Exelixis by 7.2% in the third quarter. Wedmont Private Capital now owns 8,940 shares of the biotechnology company’s stock valued at $528,000 after purchasing an additional 598 shares in the last quarter. Finally, Monument Capital Management raised its position in Exelixis by 1.3% in the 3rd quarter. Monument Capital Management now owns 82,041 shares of the biotechnology company’s stock worth $4,792,000 after purchasing an additional 1,052 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Price Performance

EXEL stock traded up $1.01 during mid-day trading on Wednesday, reaching $60.52. The company had a trading volume of 838,198 shares, compared to its average volume of 2,597,602. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $61.66. The company has a market capitalization of $15.00 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.68 and a beta of 0.47. The stock has a 50 day simple moving average of $56.43 and a two-hundred day simple moving average of $52.53.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business had revenue of $628.69 million for the quarter, compared to the consensus estimate of $636.40 million. During the same period in the previous year, the company earned $0.75 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities analysts predict that Exelixis, Inc. will post 3.19 EPS for the current year.

Insider Transactions at Exelixis

In other news, Director Mary Beckerle sold 9,812 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the sale, the director owned 16,079 shares in the company, valued at approximately $862,799.14. This trade represents a 37.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on EXEL shares. Wall Street Zen cut shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $56.00 price target on shares of Exelixis in a research report on Thursday, July 2nd. William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Friday, September 11th. Truist Financial boosted their target price on Exelixis from $52.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday, October 7th. Finally, Zacks Research upgraded Exelixis from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.79.

Exelixis Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer. The company’s research and development activities are centered primarily on targeted therapies and other treatments for solid tumors.

Exelixis’ principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer. The company also markets COMETRIQ, a cabozantinib formulation approved in the United States for progressive or metastatic medullary thyroid cancer.

Exelixis was founded in 1994 and is headquartered in Alameda, California.