Talon Private Wealth LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,896 shares of the biotechnology company’s stock, valued at approximately $639,000.
A number of other institutional investors also recently bought and sold shares of EXEL. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Exelixis by 0.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company’s stock worth $2,549,000 after acquiring an additional 281 shares during the period. RHS Financial LLC lifted its position in Exelixis by 2.4% during the fourth quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company’s stock valued at $553,000 after purchasing an additional 293 shares during the period. Meeder Advisory Services Inc. lifted its position in Exelixis by 5.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock valued at $237,000 after purchasing an additional 298 shares during the period. Cim LLC boosted its holdings in Exelixis by 0.9% in the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock valued at $1,462,000 after purchasing an additional 305 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its holdings in Exelixis by 6.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company’s stock valued at $235,000 after purchasing an additional 329 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Barclays upped their target price on Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. HC Wainwright reaffirmed a “buy” rating and set a $56.00 target price on shares of Exelixis in a report on Thursday, July 2nd. Truist Financial lifted their price target on Exelixis from $54.00 to $56.00 and gave the company a “hold” rating in a research report on Tuesday, July 7th. Finally, Citigroup reissued a “market outperform” rating on shares of Exelixis in a report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Exelixis presently has a consensus rating of “Hold” and an average price target of $49.29.
Exelixis Stock Performance
EXEL opened at $55.27 on Thursday. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $57.57. The company has a fifty day moving average of $53.54 and a two-hundred day moving average of $47.46. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.63 and a beta of 0.42.
Exelixis (NASDAQ:EXEL – Get Free Report) last posted its 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. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. During the same period in the prior year, the company posted $0.55 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts forecast that Exelixis, Inc. will post 3.15 earnings per share for the current year.
Insider Buying and Selling
In other Exelixis news, EVP Patrick J. Haley sold 32,110 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George Poste sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $45.71, for a total value of $2,742,600.00. Following the completion of the sale, the director owned 118,832 shares of the company’s stock, valued at $5,431,810.72. This trade represents a 33.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 219,170 shares of company stock worth $10,620,641 in the last ninety days. 2.60% of the stock is 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.
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