Cynosure Group LLC Buys New Shares in Exelixis, Inc. $EXEL

Cynosure Group LLC bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,363 shares of the biotechnology company’s stock, valued at approximately $498,000.

Several other institutional investors have also recently added to or reduced their stakes in EXEL. Anchor Investment Management LLC increased its stake in Exelixis by 500.0% in the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Motiv8 Investments LLC acquired a new position in Exelixis in the fourth quarter valued at $26,000. Acumen Wealth Advisors LLC acquired a new position in Exelixis in the fourth quarter valued at $29,000. Activest Wealth Management acquired a new position in Exelixis in the fourth quarter valued at $32,000. Finally, Northwestern Mutual Wealth Management Co. increased 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 valued at $34,000 after purchasing an additional 773 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Exelixis news, EVP Dana Aftab sold 43,451 shares of the business’s stock in a transaction dated 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 owned 594,741 shares of the company’s stock, valued at approximately $29,945,209.35. The trade was a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 32,110 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $17,813,948.78. The trade was a 8.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 219,170 shares of company stock valued at $10,620,641 in the last 90 days. 2.60% of the stock is owned by corporate insiders.

Exelixis Trading Down 1.7%

EXEL stock opened at $52.10 on Wednesday. The stock has a 50-day moving average price of $48.33 and a two-hundred day moving average price of $45.04. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $53.93. The company has a market cap of $13.10 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.53 and a beta of 0.41.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts forecast that Exelixis, Inc. will post 3.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays upped their target price on Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Wells Fargo & Company upped their target price on Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Truist Financial upgraded Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a research note on Tuesday, May 19th. Finally, Zacks Research lowered Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Exelixis presently has an average rating of “Hold” and a consensus price target of $47.35.

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.