Inspire Investing LLC Has $2.61 Million Stake in Exelixis, Inc. $EXEL

Inspire Investing LLC decreased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,583 shares of the biotechnology company’s stock after selling 12,876 shares during the period. Inspire Investing LLC’s holdings in Exelixis were worth $2,612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EXEL. Anchor Investment Management LLC lifted its position in Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 500 shares during the last quarter. Motiv8 Investments LLC acquired a new position in Exelixis during the 4th quarter worth $26,000. Acumen Wealth Advisors LLC acquired a new position in Exelixis during the 4th quarter worth $29,000. Activest Wealth Management acquired a new position in Exelixis during the 4th quarter worth $32,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Exelixis by 1,380.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 773 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity at Exelixis

In related news, Director Sue Gail Eckhardt sold 9,812 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $50.14, for a total value of $491,973.68. Following the completion of the transaction, 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 transaction 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, EVP Patrick J. Haley sold 32,110 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the transaction, the executive vice president directly owned 357,638 shares of the company’s stock, valued at $17,813,948.78. This trade represents a 8.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 219,170 shares of company stock worth $10,620,641 in the last three months. Company insiders own 2.60% of the company’s stock.

Exelixis Trading Up 0.7%

Shares of NASDAQ:EXEL opened at $52.44 on Thursday. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $53.93. The firm has a market capitalization of $13.18 billion, a PE ratio of 17.42, a PEG ratio of 1.50 and a beta of 0.41. The business’s 50 day moving average is $48.50 and its 200-day moving average is $45.09.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. During the same quarter last year, the firm earned $0.55 EPS. Exelixis’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, sell-side analysts predict that Exelixis, Inc. will post 3.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. HC Wainwright boosted their target price on shares of Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wells Fargo & Company boosted their target price on shares of Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. TD Cowen increased their target price on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $47.35.

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.