Exelixis, Inc. $EXEL Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC boosted its position in Exelixis, Inc. (NASDAQ:EXEL) by 49.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,331 shares of the biotechnology company’s stock after purchasing an additional 14,056 shares during the period. NewEdge Wealth LLC’s holdings in Exelixis were worth $1,816,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of EXEL. First Trust Advisors LP increased its position in shares of Exelixis by 62.0% in the first quarter. First Trust Advisors LP now owns 2,534,992 shares of the biotechnology company’s stock valued at $108,726,000 after buying an additional 970,144 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Exelixis in the 1st quarter worth about $27,000. Convergence Investment Partners LLC grew its stake in Exelixis by 44.2% in the 1st quarter. Convergence Investment Partners LLC now owns 69,616 shares of the biotechnology company’s stock valued at $2,986,000 after acquiring an additional 21,324 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Exelixis by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock valued at $184,391,000 after acquiring an additional 39,920 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in Exelixis by 5.7% during the first quarter. Parallel Advisors LLC now owns 9,115 shares of the biotechnology company’s stock worth $391,000 after acquiring an additional 495 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on EXEL. Stifel Nicolaus increased their price target on shares of Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Morgan Stanley upped their target price on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday. Barclays increased their target price on Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. HC Wainwright reissued a “buy” rating and issued a $56.00 price target on shares of Exelixis in a report on Thursday, July 2nd. Finally, Royal Bank Of Canada upped their price objective on Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $49.00.

Exelixis Stock Performance

Shares of EXEL opened at $55.37 on Friday. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $57.57. The company has a market capitalization of $13.92 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.60 and a beta of 0.42. The stock has a fifty day moving average of $53.16 and a two-hundred day moving average of $47.19.

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

Insider Transactions at Exelixis

In related news, EVP Patrick J. Haley sold 32,110 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total value of $1,599,399.10. Following the sale, the executive vice president directly owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. This trade represents a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Senner sold 34,901 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the completion of the sale, the chief financial officer owned 952,317 shares of the company’s stock, valued at approximately $47,615,850. The trade was a 3.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 219,170 shares of company stock worth $10,620,641 in the last quarter. 2.60% of the stock is currently owned by corporate 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.