NewEdge Wealth LLC Acquires Shares of 51,642 Exelixis, Inc. $EXEL

NewEdge Wealth LLC purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the second quarter, HoldingsChannel.com reports. The firm purchased 51,642 shares of the biotechnology company’s stock, valued at approximately $2,810,000.

Other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Exelixis by 81.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock worth $1,592,000 after acquiring an additional 19,407 shares during the period. Goldman Sachs Group Inc. raised its stake in Exelixis by 4.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock valued at $54,153,000 after purchasing an additional 68,133 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Exelixis by 83.4% during the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock valued at $1,420,000 after buying an additional 17,483 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Exelixis by 134.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 944 shares during the period. Finally, Sivia Capital Partners LLC boosted its stake in Exelixis by 23.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock worth $633,000 after buying an additional 2,764 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Citizens Jmp raised their price objective on Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a report on Wednesday, June 24th. Morgan Stanley increased their price target on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Wells Fargo & Company boosted their target price on shares of Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, July 13th. HC Wainwright restated a “buy” rating and set a $56.00 price objective on shares of Exelixis in a research note on Thursday, July 2nd. Finally, Leerink Partners cut shares of Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 target price on the stock. in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $50.07.

Exelixis Trading Down 1.3%

EXEL stock opened at $53.69 on Friday. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $57.57. The company has a market capitalization of $13.30 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 1.62 and a beta of 0.44. The firm’s 50-day moving average is $54.24 and its two-hundred day moving average is $48.53.

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

Insider Transactions at Exelixis

In related news, EVP Dana Aftab sold 43,451 shares of the stock in a transaction that occurred 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 directly owned 594,741 shares of the company’s stock, valued at $29,945,209.35. This represents a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sue Gail Eckhardt sold 9,812 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $50.14, for a total value of $491,973.68. Following the completion of the transaction, the director directly owned 16,079 shares in the company, valued at $806,201.06. This represents a 37.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 67,000 shares of company stock valued at $3,404,652 in the last three months. 2.60% of the stock is currently owned by insiders.

Exelixis 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.