Gateway Wealth Partners LLC Takes Position in Exelixis, Inc. $EXEL

Gateway Wealth Partners LLC bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 15,223 shares of the biotechnology company’s stock, valued at approximately $653,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Weiss Asset Management LP bought a new stake in Exelixis during the first quarter valued at $497,000. OMERS ADMINISTRATION Corp increased its holdings in shares of Exelixis by 27.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 88,362 shares of the biotechnology company’s stock valued at $3,790,000 after acquiring an additional 18,800 shares in the last quarter. Van Diest Capital LLC raised its holdings in Exelixis by 24.1% during the first quarter. Van Diest Capital LLC now owns 9,625 shares of the biotechnology company’s stock worth $413,000 after buying an additional 1,868 shares during the last quarter. Entropy Technologies LP lifted its position in Exelixis by 342.6% in the 1st quarter. Entropy Technologies LP now owns 107,851 shares of the biotechnology company’s stock valued at $4,626,000 after acquiring an additional 83,486 shares in the last quarter. Finally, Compound Planning Inc. bought a new position in shares of Exelixis in the first quarter valued at approximately $257,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Stock Up 1.2%

Exelixis stock opened at $55.97 on Friday. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $57.57. The firm has a 50 day moving average price of $53.67 and a 200-day moving average price of $47.54. The company has a market capitalization of $14.07 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.60 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.12. The company had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. Exelixis’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. Equities analysts expect that Exelixis, Inc. will post 3.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Citizens Jmp lifted their target price on shares of Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Wednesday, June 24th. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Morgan Stanley upped their target price on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, HC Wainwright restated a “buy” rating and issued a $56.00 price objective on shares of Exelixis in a research note on Thursday, July 2nd. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.29.

Insider Buying and Selling at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 34,901 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total value of $1,745,050.00. Following the completion of the sale, the chief financial officer directly owned 952,317 shares of the company’s stock, valued at $47,615,850. This trade represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Patrick J. Haley sold 32,110 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president owned 357,638 shares in the company, valued at approximately $17,813,948.78. The trade was a 8.24% 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 valued at $10,620,641 in the last quarter. Insiders own 2.60% of the company’s stock.

Exelixis Company 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.