Strategic Investment Advisors MI Purchases 15,313 Shares of Exelixis, Inc. $EXEL

Strategic Investment Advisors MI raised its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 48.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,921 shares of the biotechnology company’s stock after purchasing an additional 15,313 shares during the period. Strategic Investment Advisors MI’s holdings in Exelixis were worth $2,012,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Motiv8 Investments LLC purchased a new position in shares of Exelixis in the 4th quarter worth about $26,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Exelixis during the 1st quarter valued at about $27,000. Acumen Wealth Advisors LLC bought a new stake in Exelixis in the 4th quarter worth approximately $29,000. Activest Wealth Management bought a new stake in Exelixis in the 4th quarter worth approximately $32,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Exelixis by 1,380.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock worth $34,000 after buying an additional 773 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Exelixis Price Performance

Shares of Exelixis stock opened at $55.27 on Thursday. The business’s 50 day simple moving average is $53.54 and its two-hundred day simple moving average is $47.46. The stock has a market capitalization of $13.89 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.63 and a beta of 0.42. Exelixis, Inc. has a one year low of $33.76 and a one year high of $57.57.

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, beating the consensus estimate of $0.75 by $0.12. The firm had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 earnings per share. Sell-side analysts expect that Exelixis, Inc. will post 3.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EXEL has been the topic of a number of recent research reports. UBS Group reiterated a “buy” rating on shares of Exelixis in a research report on Thursday, July 2nd. Morgan Stanley boosted their price objective on shares of Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Royal Bank Of Canada upped their price objective on shares of Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. Weiss Ratings lowered shares of Exelixis from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, July 24th. Finally, Truist Financial lifted their target price on shares of Exelixis from $54.00 to $56.00 and gave the stock a “hold” rating in a research report on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $49.29.

Insider Buying and Selling

In other Exelixis news, EVP Patrick J. Haley sold 32,110 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total value of $1,599,399.10. Following the sale, the executive vice president 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dana Aftab sold 43,451 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the completion of the sale, the executive vice president directly owned 594,741 shares in the company, valued at approximately $29,945,209.35. This trade represents a 6.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 219,170 shares of company stock valued at $10,620,641 over the last quarter. Company insiders own 2.60% of the company’s stock.

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.