Keating Financial Advisory Services Inc. Buys New Holdings in Exelixis, Inc. $EXEL

Keating Financial Advisory Services Inc. purchased a new position in Exelixis, Inc. (NASDAQ:EXEL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,863 shares of the biotechnology company’s stock, valued at approximately $591,000.

Several other hedge funds have also modified their holdings of the company. Motiv8 Investments LLC bought a new stake in shares of Exelixis in the 4th quarter worth about $26,000. Cassaday & Co Wealth Management LLC bought a new position in Exelixis during the 1st quarter valued at about $27,000. Western Wealth Management LLC purchased a new stake in Exelixis in the 1st quarter worth about $29,000. Acumen Wealth Advisors LLC purchased a new stake in Exelixis in the 4th quarter worth about $29,000. Finally, Activest Wealth Management purchased a new stake in Exelixis in the 4th quarter worth about $32,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Price Performance

Shares of EXEL stock opened at $54.08 on Friday. The company has a market capitalization of $13.40 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.60 and a beta of 0.44. The company’s 50-day simple moving average is $54.26 and its two-hundred day simple moving average is $48.56. Exelixis, Inc. has a one year low of $33.76 and a one year 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 for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $628.69 million during the quarter, compared to the consensus estimate of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. On average, research analysts expect that Exelixis, Inc. will post 3.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on EXEL shares. Royal Bank Of Canada boosted their target price on Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Citigroup reissued a “market outperform” rating on shares of Exelixis in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. Barclays boosted their price objective on Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Finally, Stifel Nicolaus increased their target price on Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $50.07.

Insider Transactions at Exelixis

In other Exelixis news, Director Jack L. Wyszomierski sold 3,925 shares of Exelixis stock in a transaction on Monday, June 1st. The stock was sold at an average price of $50.55, for a total transaction of $198,408.75. Following the completion of the sale, the director directly owned 284,384 shares of the company’s stock, valued at $14,375,611.20. The trade was a 1.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sue Gail Eckhardt sold 9,812 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $50.14, for a total value of $491,973.68. Following the completion of the sale, the director owned 16,079 shares of the company’s stock, valued at $806,201.06. This represents 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. Over the last 90 days, insiders have sold 67,000 shares of company stock valued at $3,404,652. Company 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.