WealthCare Asset Management LLC Makes New Investment in Exelixis, Inc. $EXEL

WealthCare Asset Management LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 27,214 shares of the biotechnology company’s stock, valued at approximately $1,590,000. Exelixis accounts for 1.4% of WealthCare Asset Management LLC’s investment portfolio, making the stock its 20th largest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Exelixis in the second quarter valued at $1,581,991,000. Caisse de depot et placement du Quebec purchased a new position in Exelixis during the 2nd quarter worth $113,951,000. Bank of New York Mellon Corp purchased a new position in Exelixis during the 2nd quarter worth $107,803,000. Jupiter Topco LLC acquired a new stake in shares of Exelixis in the 2nd quarter worth $67,299,000. Finally, First Trust Advisors LP lifted its stake in shares of Exelixis by 62.0% in the 1st quarter. First Trust Advisors LP now owns 2,534,992 shares of the biotechnology company’s stock worth $108,726,000 after acquiring an additional 970,144 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Price Performance

NASDAQ EXEL opened at $65.11 on Tuesday. Exelixis, Inc. has a 1-year low of $36.00 and a 1-year high of $65.59. The company has a market capitalization of $16.13 billion, a P/E ratio of 20.47, a PEG ratio of 1.81 and a beta of 0.47. The business has a 50 day moving average price of $58.31 and a 200 day moving average price of $50.48.

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

Insiders Place Their Bets

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of the company’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 approximately $862,799.14. This represents a 37.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

EXEL has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, July 13th. HC Wainwright reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Exelixis in a report on Thursday, July 2nd. Truist Financial increased their target price on Exelixis from $52.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, October 7th. Citigroup reissued a “market outperform” rating on shares of Exelixis in a report on Monday, October 19th. Finally, Citizens Jmp lifted their price target on Exelixis from $55.00 to $65.00 and gave the company a “market outperform” rating in a research note on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $51.50.

Exelixis 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.