Ameritas Advisory Services LLC Purchases Shares of 34,270 Exelixis, Inc. $EXEL

Key Points

• Ameritas Advisory Services LLC opened a new position in Exelixis during the fourth quarter, buying 34,270 shares valued at about $1.5 million.
• Exelixis reported solid quarterly results, with EPS of $0.87 beating estimates and revenue of $610.8 million, up 10% year over year.
• Analysts are mixed on the stock: the consensus rating is Hold with an average price target of $47.35, while several firms recently adjusted targets and one upgraded the stock to strong buy.

Ameritas Advisory Services LLC acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 34,270 shares of the biotechnology company's stock, valued at approximately $1,502,000.

A number of other hedge funds have also recently bought and sold shares of the company. Farallon Capital Management LLC raised its position in Exelixis by 21.6% in the 3rd quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company's stock worth $805,412,000 after buying an additional 3,466,000 shares during the last quarter. Assetmark Inc. raised its position in Exelixis by 1,230.8% in the 3rd quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company's stock worth $131,994,000 after buying an additional 2,955,813 shares during the last quarter. AQR Capital Management LLC raised its position in Exelixis by 20.7% in the 3rd quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company's stock worth $379,190,000 after buying an additional 1,575,280 shares during the last quarter. Allianz Asset Management GmbH raised its position in Exelixis by 153.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company's stock worth $101,720,000 after buying an additional 1,490,520 shares during the last quarter. Finally, UBS Group AG raised its position in Exelixis by 100.1% in the 3rd quarter. UBS Group AG now owns 2,655,069 shares of the biotechnology company's stock worth $109,654,000 after buying an additional 1,328,087 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Price Performance

EXEL stock opened at $51.10 on Friday. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $51.63. The company has a market capitalization of $12.84 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 1.08 and a beta of 0.38. The business has a 50 day simple moving average of $44.13 and a two-hundred day simple moving average of $43.44.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company's quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. Sell-side analysts anticipate that Exelixis, Inc. will post 3.15 EPS for the current fiscal year.

Insider Activity

In related news, EVP Patrick J. Haley sold 67,814 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $43.52, for a total transaction of $2,951,265.28. Following the sale, the executive vice president owned 381,908 shares in the company, valued at approximately $16,620,636.16. This represents a 15.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Christopher J. Senner sold 30,617 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $43.67, for a total value of $1,337,044.39. Following the sale, the chief financial officer owned 976,092 shares in the company, valued at $42,625,937.64. The trade was a 3.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 382,811 shares of company stock worth $17,014,813. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank Of Canada decreased their target price on Exelixis from $46.00 to $43.00 and set a "sector perform" rating for the company in a research report on Monday, March 2nd. Morgan Stanley boosted their target price on Exelixis from $49.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. Stifel Nicolaus boosted their price target on Exelixis from $44.00 to $47.00 and gave the company a "hold" rating in a research note on Wednesday, May 6th. TD Cowen boosted their price target on Exelixis from $51.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Finally, Truist Financial upgraded Exelixis to a "strong-buy" rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $47.35.

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.

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