Globeflex Capital L P Purchases Shares of 254,993 Exelixis, Inc. $EXEL

Globeflex Capital L P bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 254,993 shares of the biotechnology company’s stock, valued at approximately $13,874,000. Exelixis makes up about 1.8% of Globeflex Capital L P’s investment portfolio, making the stock its 3rd biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Nova Scotia bought a new stake in Exelixis in the 2nd quarter worth approximately $22,838,000. Commerce Bank purchased a new stake in Exelixis during the second quarter valued at about $4,295,000. Northwestern Mutual Wealth Management Co. bought a new position in Exelixis during the 2nd quarter worth approximately $57,000. Quantbot Technologies LP bought a new position in shares of Exelixis in the second quarter worth approximately $323,000. Finally, Evolve Private Wealth LLC purchased a new position in shares of Exelixis in the second quarter valued at about $2,068,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Price Performance

Exelixis stock opened at $54.08 on Monday. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $57.57. 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. The business has a 50-day simple moving average of $54.26 and a two-hundred day simple moving average of $48.60.

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, Director Mary C. Beckerle sold 9,812 shares of Exelixis stock in a transaction on Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the transaction, the director owned 16,079 shares in the company, valued at $862,799.14. This trade represents a 37.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the executive vice president directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 67,000 shares of company stock valued at $3,404,652 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EXEL shares. UBS Group set a $55.00 target price on Exelixis in a research note on Monday, August 3rd. Leerink Partners cut Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price target on the stock. in a research note on Thursday, August 6th. BMO Capital Markets assumed coverage on shares of Exelixis in a research note on Tuesday, August 18th. They issued a “market perform” rating and a $54.00 price target for the company. Stifel Nicolaus lifted their price objective on Exelixis from $47.00 to $51.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings raised shares of Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Exelixis presently has an average rating of “Hold” and a consensus price target 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.