Bull Harbor Capital LLC Makes New $912,000 Investment in Exelixis, Inc. $EXEL

Bull Harbor Capital LLC bought a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,258 shares of the biotechnology company’s stock, valued at approximately $912,000.

Other institutional investors have also recently made changes to their positions in the company. Strategic Investment Advisors MI raised its holdings in shares of Exelixis by 48.4% during the first quarter. Strategic Investment Advisors MI now owns 46,921 shares of the biotechnology company’s stock valued at $2,012,000 after purchasing an additional 15,313 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in Exelixis in the first quarter worth approximately $476,000. Talon Private Wealth LLC bought a new stake in Exelixis in the 1st quarter worth approximately $639,000. California State Teachers Retirement System raised its stake in Exelixis by 22.3% during the 1st quarter. California State Teachers Retirement System now owns 297,156 shares of the biotechnology company’s stock valued at $12,745,000 after buying an additional 54,281 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Exelixis by 24.6% during the 1st quarter. Royal Bank of Canada now owns 694,131 shares of the biotechnology company’s stock valued at $29,772,000 after buying an additional 136,976 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Price Performance

EXEL stock opened at $55.97 on Friday. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $57.57. The business has a 50 day simple moving average of $53.67 and a two-hundred day simple moving average of $47.54. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 1.60 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. During the same quarter last year, the business posted $0.55 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Sell-side analysts anticipate that Exelixis, Inc. will post 3.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jack L. Wyszomierski sold 3,925 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.55, for a total value of $198,408.75. Following the sale, the director directly owned 284,384 shares in the company, valued at approximately $14,375,611.20. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 Exelixis 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 completion of the sale, the executive vice president directly owned 357,638 shares in the company, valued at approximately $17,813,948.78. The trade was a 8.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 219,170 shares of company stock valued at $10,620,641 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EXEL. Citigroup restated a “market outperform” rating on shares of Exelixis in a research note on Wednesday, July 22nd. Wells Fargo & Company upped their price objective on Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, July 13th. TD Cowen increased their target price on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Stifel Nicolaus raised their target price on Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $56.00 price target on shares of Exelixis in a research report on Thursday, July 2nd. Eight investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $49.29.

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.