AlphaCore Capital LLC Invests $485,000 in Exelixis, Inc. $EXEL

AlphaCore Capital LLC bought a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 11,075 shares of the biotechnology company’s stock, valued at approximately $485,000.

Other hedge funds also recently added to or reduced their stakes in the company. BridgePort Financial Solutions LLC acquired a new stake in shares of Exelixis in the third quarter worth $517,000. Candriam S.C.A. boosted its stake in shares of Exelixis by 18.4% in the third quarter. Candriam S.C.A. now owns 696,104 shares of the biotechnology company’s stock worth $28,749,000 after acquiring an additional 108,367 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Exelixis by 11.2% during the third quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock worth $172,658,000 after acquiring an additional 419,596 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Exelixis by 153.3% during the third quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock worth $101,720,000 after acquiring an additional 1,490,520 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in Exelixis by 19.1% during the third quarter. Illinois Municipal Retirement Fund now owns 204,211 shares of the biotechnology company’s stock worth $8,434,000 after acquiring an additional 32,737 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Exelixis news, EVP Dana Aftab sold 47,918 shares of Exelixis stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total value of $2,132,351.00. Following the transaction, the executive vice president directly owned 616,106 shares in the company, valued at approximately $27,416,717. The trade was a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary C. Beckerle sold 7,712 shares of Exelixis stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $48.45, for a total transaction of $373,646.40. Following the completion of the transaction, the director owned 17,524 shares in the company, valued at approximately $849,037.80. This represents a 30.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 207,663 shares of company stock valued at $9,600,320 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Exelixis Stock Down 2.3%

EXEL opened at $48.67 on Wednesday. The firm has a market cap of $12.23 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.05 and a beta of 0.38. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $51.63. The business’s 50 day moving average is $44.62 and its two-hundred day moving average is $43.64.

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

Analyst Upgrades and Downgrades

EXEL has been the topic of a number of recent research reports. Barclays boosted their price objective on Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Zacks Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Stifel Nicolaus upped their price objective on shares of Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Truist Financial upgraded shares of Exelixis to a “strong-buy” rating in a report on Monday, April 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Exelixis has a consensus rating of “Hold” and an average price target of $47.35.

Exelixis 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.