Annex Advisory Services LLC Makes New Investment in Exelixis, Inc. $EXEL

Key Points

• Annex Advisory Services purchased 25,918 Exelixis shares in the second quarter, valued at approximately $1.41 million. Institutional investors collectively own 85.27% of the company.
• Exelixis exceeded quarterly earnings expectations, reporting adjusted EPS of $0.91 versus the $0.85 consensus estimate, while revenue increased 10.6% year over year to $628.69 million.
• Insiders sold 140,636 shares worth approximately $7.08 million over the past 90 days. Analysts remain mixed, with a consensus “Hold” rating and an average price target of $49.79, below the stock’s $50.38 opening price.

Annex Advisory Services LLC purchased a new position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 25,918 shares of the biotechnology company's stock, valued at approximately $1,410,000.

Several other institutional investors have also recently added to or reduced their stakes in EXEL. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Exelixis by 0.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company's stock valued at $2,549,000 after buying an additional 281 shares during the period. Meeder Advisory Services Inc. increased its position in Exelixis by 5.8% in the 4th quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company's stock valued at $237,000 after acquiring an additional 298 shares during the period. Cim LLC raised its stake in shares of Exelixis by 0.9% during the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company's stock valued at $1,462,000 after purchasing an additional 305 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in Exelixis by 6.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company's stock valued at $235,000 after buying an additional 329 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its holdings in Exelixis by 3.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 9,077 shares of the biotechnology company's stock worth $389,000 after purchasing an additional 333 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Dana Aftab sold 43,451 shares of Exelixis stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total value of $2,187,757.85. Following the completion of the transaction, the executive vice president owned 594,741 shares in the company, valued at approximately $29,945,209.35. The trade was a 6.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sue Gail Eckhardt sold 9,812 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $50.14, for a total transaction of $491,973.68. Following the transaction, the director owned 16,079 shares in the company, valued at $806,201.06. The trade was a 37.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 140,636 shares of company stock worth $7,081,743 over the last ninety days. Company insiders own 2.60% of the company's stock.

Exelixis Trading Down 1.9%

EXEL opened at $50.38 on Thursday. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57. The stock has a market cap of $12.48 billion, a PE ratio of 15.84, a P/E/G ratio of 1.55 and a beta of 0.44. The stock's 50 day simple moving average is $54.25 and its 200-day simple moving average is $48.12.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $628.69 million during 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 company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. Equities analysts forecast that Exelixis, Inc. will post 3.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on EXEL shares. TD Cowen increased their target price on shares of Exelixis from $51.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Citizens Jmp raised their price objective on Exelixis from $50.00 to $55.00 and gave the stock a "market outperform" rating in a research report on Wednesday, June 24th. Stifel Nicolaus boosted their price target on shares of Exelixis from $47.00 to $51.00 and gave the company a "hold" rating in a report on Thursday, August 6th. HC Wainwright reissued a "buy" rating and issued a $56.00 price target on shares of Exelixis in a research note on Thursday, July 2nd. Finally, Weiss Ratings raised shares of Exelixis from a "buy (b)" rating to a "buy (a-)" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Exelixis has a consensus rating of "Hold" and a consensus target price of $49.79.

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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