Assetmark Inc. Increases Holdings in Exelixis, Inc. $EXEL

Key Points

• Assetmark Inc. raised its stake in Exelixis by 4.2% to 3,330,771 shares—about 1.24% of the company—valued at approximately $145.99 million as of the latest SEC filing.
• Exelixis beat quarterly EPS estimates ($0.94 vs. $0.74) but slightly missed revenue expectations ($598.66M vs. $609.17M), with revenue up 5.6% year-over-year; the stock trades near $44.96 with a market cap of $11.68B and a 52-week range of $33.76–$49.62.
• Insider selling totaled 362,849 shares (~$15.9M) last quarter, institutional investors own 85.27% of the stock, and analysts' consensus is a "Hold" with an average price target of $46.94.

Assetmark Inc. raised its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,330,771 shares of the biotechnology company's stock after buying an additional 134,800 shares during the period. Assetmark Inc. owned about 1.24% of Exelixis worth $145,988,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Richardson Financial Services Inc. increased its stake in shares of Exelixis by 95.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company's stock worth $25,000 after purchasing an additional 292 shares in the last quarter. RHS Financial LLC increased its stake in shares of Exelixis by 2.4% in the 4th quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company's stock worth $553,000 after purchasing an additional 293 shares in the last quarter. Cim LLC increased its stake in shares of Exelixis by 0.9% in the 3rd quarter. Cim LLC now owns 35,397 shares of the biotechnology company's stock worth $1,462,000 after purchasing an additional 305 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of Exelixis by 6.4% in the 3rd quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company's stock worth $225,000 after purchasing an additional 329 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Exelixis by 5.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,919 shares of the biotechnology company's stock worth $327,000 after purchasing an additional 384 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Up 1.6%

EXEL opened at $44.96 on Tuesday. The firm has a 50-day simple moving average of $42.89 and a two-hundred day simple moving average of $42.34. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $49.62. The company has a market capitalization of $11.68 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 0.99 and a beta of 0.42.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.74 by $0.20. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The business had revenue of $598.66 million during the quarter, compared to the consensus estimate of $609.17 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The business's revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insider Transactions at Exelixis

In related news, EVP Patrick J. Haley sold 67,814 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $43.52, for a total value of $2,951,265.28. Following the completion of the transaction, the executive vice president owned 381,908 shares of the company's stock, valued at approximately $16,620,636.16. This trade represents a 15.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bob Oliver sold 30,250 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $43.81, for a total transaction of $1,325,252.50. Following the completion of the transaction, the director directly owned 21,120 shares of the company's stock, valued at approximately $925,267.20. The trade was a 58.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 362,849 shares of company stock worth $15,917,463 in the last quarter. Company insiders own 2.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. HC Wainwright upped their price objective on Exelixis from $52.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Wells Fargo & Company upped their price objective on Exelixis from $30.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 11th. Morgan Stanley upped their price objective on Exelixis from $48.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Monday, February 2nd. Wall Street Zen upgraded Exelixis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 14th. Finally, Citigroup downgraded shares of Exelixis from a "market outperform" rating to an "underperform" rating in a report on Monday, January 5th. One investment 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 issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $46.94.

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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