PSP Research LLC Takes $524,000 Position in Exelixis, Inc. $EXEL

PSP Research LLC acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,948 shares of the biotechnology company’s stock, valued at approximately $524,000.

Several other institutional investors also recently bought and sold shares of EXEL. Anchor Investment Management LLC increased its stake in Exelixis by 500.0% in the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 500 shares during the period. Root Financial Partners LLC acquired a new position in Exelixis in the 3rd quarter valued at $28,000. Activest Wealth Management acquired a new position in Exelixis in the 4th quarter valued at $32,000. Northwestern Mutual Wealth Management Co. increased its stake in Exelixis by 1,380.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 773 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in Exelixis in the 4th quarter valued at $44,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EXEL shares. Truist Financial raised shares of Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. Barclays boosted their price objective on shares of Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Zacks Research cut shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. TD Cowen upped their price target on shares of Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.35.

Exelixis Stock Down 2.3%

NASDAQ:EXEL opened at $48.67 on Wednesday. The stock has a market cap of $12.23 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.05 and a beta of 0.38. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $51.63. The firm’s fifty day simple moving average is $44.62 and its 200-day simple moving average is $43.64.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. The firm had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 EPS. Equities analysts anticipate that Exelixis, Inc. will post 3.15 earnings per share for the current year.

Insider Transactions at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 34,901 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $50.00, for a total value of $1,745,050.00. Following the transaction, the chief financial officer directly owned 952,317 shares in the company, valued at approximately $47,615,850. This represents a 3.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Poste sold 60,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $45.71, for a total transaction of $2,742,600.00. Following the completion of the transaction, the director owned 118,832 shares in the company, valued at approximately $5,431,810.72. This trade represents a 33.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 207,663 shares of company stock worth $9,600,320 in the last 90 days. Insiders own 2.60% of the company’s stock.

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.