Pursue Wealth Partners LLC Takes $578,000 Position in Exelixis, Inc. $EXEL

Pursue Wealth Partners LLC purchased a new position in Exelixis, Inc. (NASDAQ:EXEL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,622 shares of the biotechnology company’s stock, valued at approximately $578,000.

A number of other large investors have also added to or reduced their stakes in EXEL. Arkadios Wealth Advisors bought a new position in Exelixis in the 1st quarter valued at approximately $476,000. Stephens Investment Management Group LLC increased its holdings in shares of Exelixis by 1.1% in the 4th quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company’s stock worth $111,303,000 after purchasing an additional 28,265 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Exelixis by 79.5% in the fourth quarter. BNP Paribas Financial Markets now owns 1,117,936 shares of the biotechnology company’s stock worth $48,999,000 after purchasing an additional 495,247 shares during the last quarter. Annex Advisory Services LLC purchased a new position in shares of Exelixis in the second quarter worth $1,410,000. Finally, Cibc World Market Inc. lifted its holdings in shares of Exelixis by 462.3% during the fourth quarter. Cibc World Market Inc. now owns 38,904 shares of the biotechnology company’s stock valued at $1,705,000 after purchasing an additional 31,985 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Price Performance

Shares of Exelixis stock opened at $52.32 on Tuesday. The company’s fifty day simple moving average is $54.20 and its 200-day simple moving average is $48.28. The stock has a market capitalization of $12.96 billion, a PE ratio of 16.45, a P/E/G ratio of 1.53 and a beta of 0.44. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $57.57.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $628.69 million during the quarter, compared to the consensus estimate of $636.40 million. During the same quarter in the previous year, the firm posted $0.75 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, research analysts anticipate that Exelixis, Inc. will post 3.18 EPS for the current year.

Insider Activity at Exelixis

In other Exelixis news, Director Jack L. Wyszomierski sold 3,925 shares of Exelixis stock in a transaction that occurred on Monday, June 1st. The shares were 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 of the company’s stock, valued at $14,375,611.20. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Mary C. Beckerle sold 9,812 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director owned 16,079 shares of the company’s stock, valued at approximately $862,799.14. The trade was a 37.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 99,110 shares of company stock worth $5,004,051 in the last quarter. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group set a $55.00 target price on Exelixis in a research report on Monday, August 3rd. Truist Financial lowered their price objective on shares of Exelixis from $56.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, August 6th. Wells Fargo & Company raised their target price on shares of Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, July 13th. 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. Finally, HC Wainwright reiterated a “buy” rating and set a $56.00 target price on shares of Exelixis in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Exelixis has a consensus rating of “Hold” and a consensus target price of $49.79.

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.