National Wealth Management Group LLC Purchases New Holdings in Exelixis, Inc. $EXEL

National Wealth Management Group LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,902 shares of the biotechnology company’s stock, valued at approximately $578,000.

Several other hedge funds have also recently added to or reduced their stakes in EXEL. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Exelixis in the first quarter valued at about $27,000. Western Wealth Management LLC purchased a new position in shares of Exelixis in the first quarter worth about $29,000. Mather Group LLC. boosted its position in Exelixis by 124.6% during the third quarter. Mather Group LLC. now owns 757 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 420 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Exelixis during the second quarter worth about $46,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Exelixis during the 2nd quarter valued at about $57,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on EXEL shares. Wells Fargo & Company increased their price objective on shares of Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, July 13th. Stifel Nicolaus boosted their target price on Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. Citizens Jmp upped their price target on Exelixis from $55.00 to $65.00 and gave the company a “market outperform” rating in a research report on Monday, October 19th. Barclays increased their price target on Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Finally, Zacks Research raised Exelixis from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Exelixis currently has a consensus rating of “Hold” and an average price target of $51.50.

Exelixis Trading Up 0.9%

Shares of EXEL stock opened at $65.11 on Tuesday. Exelixis, Inc. has a twelve month low of $36.00 and a twelve month high of $65.59. The company’s 50-day moving average price is $58.31 and its 200-day moving average price is $50.48. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.81 and a beta of 0.47.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The firm had revenue of $628.69 million during the quarter, compared to analysts’ expectations of $636.40 million. During the same period last year, the business earned $0.75 earnings per share. Exelixis’s revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts predict that Exelixis, Inc. will post 3.19 EPS for the current year.

Insiders Place Their Bets

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the transaction, the director directly owned 16,079 shares in the company, valued at $862,799.14. The trade was a 37.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is owned by insiders.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company’s research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis’ lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.