Cetera Investment Advisers Raises Stock Position in Exelixis, Inc. $EXEL

Key Points

• Cetera Investment Advisers increased its Exelixis position by 17.4% in the first quarter, owning 169,881 shares valued at approximately $7.3 million. Institutional investors collectively own 85.27% of the company.
• Exelixis reported quarterly EPS of $0.87, beating estimates of $0.75, while revenue rose 10% year over year to $610.81 million. Analysts expect full-year EPS of $3.15.
• Shares opened at $53.03 after a reported 5.3% decline, while analyst sentiment remained mixed: the stock has an average “Hold” rating and a consensus price target of $49.29. Insiders have sold 219,170 shares worth $10.6 million over the past three months.

Cetera Investment Advisers increased its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,881 shares of the biotechnology company's stock after purchasing an additional 25,187 shares during the quarter. Cetera Investment Advisers owned approximately 0.07% of Exelixis worth $7,286,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Exelixis by 81.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company's stock worth $1,592,000 after buying an additional 19,407 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Exelixis by 4.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company's stock worth $54,153,000 after purchasing an additional 68,133 shares during the period. Focus Partners Wealth lifted its position in shares of Exelixis by 83.4% in the 1st quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company's stock worth $1,420,000 after purchasing an additional 17,483 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Exelixis by 134.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company's stock valued at $61,000 after purchasing an additional 944 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in shares of Exelixis by 23.8% during the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company's stock valued at $633,000 after purchasing an additional 2,764 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Exelixis

In related news, Director Jack L. Wyszomierski sold 3,925 shares of the business's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $50.55, for a total transaction of $198,408.75. Following the transaction, the director directly owned 284,384 shares in the company, valued at $14,375,611.20. The trade was a 1.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sue Gail Eckhardt sold 9,812 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $50.14, for a total value of $491,973.68. Following the transaction, the director directly owned 16,079 shares in the company, valued at $806,201.06. This represents 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. Over the last three months, insiders have sold 219,170 shares of company stock worth $10,620,641. 2.60% of the stock is currently owned by corporate insiders.

Exelixis Stock Down 5.3%

NASDAQ:EXEL opened at $53.03 on Friday. The stock has a market capitalization of $13.33 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.53 and a beta of 0.42. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $57.57. The firm has a 50 day moving average of $53.73 and a 200 day moving average of $47.58.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.12. The business had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. As a group, analysts expect that Exelixis, Inc. will post 3.15 EPS for the current year.

Wall Street Analysts Forecast Growth

EXEL has been the subject of a number of recent research reports. Citizens Jmp boosted their price objective on shares of Exelixis from $50.00 to $55.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 24th. Truist Financial lifted their price target on Exelixis from $54.00 to $56.00 and gave the company a "hold" rating in a report on Tuesday, July 7th. HC Wainwright reissued a "buy" rating and issued a $56.00 price target on shares of Exelixis in a research report on Thursday, July 2nd. Citigroup restated a "market outperform" rating on shares of Exelixis in a research note on Wednesday, July 22nd. Finally, Wall Street Zen raised Exelixis from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Exelixis presently has an average rating of "Hold" and an average price target of $49.29.

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.

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