Evolve Private Wealth LLC Invests $2.07 Million in Exelixis, Inc. $EXEL

Evolve Private Wealth LLC bought a new position in Exelixis, Inc. (NASDAQ:EXEL) during the 2nd quarter, HoldingsChannel reports. The fund bought 38,016 shares of the biotechnology company’s stock, valued at approximately $2,068,000.

A number of other institutional investors have also recently made changes to their positions in EXEL. Landscape Capital Management L.L.C. bought a new position in Exelixis in the 2nd quarter valued at approximately $1,052,000. EP Wealth Advisors LLC bought a new stake in shares of Exelixis in the 2nd quarter worth $1,298,000. Ieq Capital LLC bought a new stake in shares of Exelixis in the 2nd quarter worth $24,581,000. Heron Bay Capital Management bought a new stake in shares of Exelixis in the 2nd quarter worth $6,246,000. Finally, Callan Family Office LLC purchased a new position in shares of Exelixis in the second quarter worth $218,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Stock Up 0.7%

Exelixis stock opened at $54.08 on Friday. The business has a 50-day simple moving average of $54.26 and a two-hundred day simple moving average of $48.56. The company has a market cap of $13.40 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.61 and a beta of 0.44. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $57.57.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $628.69 million for the quarter, compared to analysts’ expectations of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 EPS. Research analysts anticipate that Exelixis, Inc. will post 3.18 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In other news, EVP Dana Aftab sold 43,451 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were 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 owned 594,741 shares of the company’s stock, valued at $29,945,209.35. The trade was a 6.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary C. Beckerle sold 9,812 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the transaction, the director directly owned 16,079 shares in the company, valued at approximately $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 67,000 shares of company stock valued at $3,404,652 over the last three months. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on EXEL shares. Wall Street Zen cut Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. BMO Capital Markets assumed coverage on Exelixis in a research report on Tuesday. They issued a “market perform” rating and a $54.00 target price for the company. Morgan Stanley upped their target price on shares of Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. UBS Group set a $55.00 price target on shares of Exelixis in a report on Monday, August 3rd. Finally, Leerink Partners lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price target for the company. in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.07.

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.