EP Wealth Advisors LLC Buys Shares of 23,865 Exelixis, Inc. $EXEL

EP Wealth Advisors LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 23,865 shares of the biotechnology company's stock, valued at approximately $1,298,000.

Other institutional investors have also modified their holdings of the company. Motiv8 Investments LLC acquired a new position in Exelixis in the fourth quarter valued at $26,000. Cassaday & Co Wealth Management LLC acquired a new stake in Exelixis in the 1st quarter worth about $27,000. Acumen Wealth Advisors LLC purchased a new stake in Exelixis in the 4th quarter valued at about $29,000. Western Wealth Management LLC purchased a new stake in Exelixis in the 1st quarter valued at about $29,000. Finally, Activest Wealth Management acquired a new position in shares of Exelixis during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Activity at Exelixis

In other news, Director Sue Gail Eckhardt sold 9,812 shares of the stock in a transaction dated Monday, June 1st. The shares were 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 of the company's stock, valued at approximately $806,201.06. This trade represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary C. Beckerle sold 9,812 shares of the business'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 completion of the sale, the director directly owned 16,079 shares of the company's stock, valued at approximately $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 67,000 shares of company stock worth $3,404,652 over the last three months. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on EXEL. Weiss Ratings raised shares of Exelixis from a "buy (b)" rating to a "buy (a-)" rating in a research report on Tuesday, August 11th. Morgan Stanley increased their price target on shares of Exelixis from $50.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 23rd. Citizens Jmp lifted their price target on shares of Exelixis from $50.00 to $55.00 and gave the company a "market outperform" rating in a report on Wednesday, June 24th. Truist Financial dropped their price objective on Exelixis from $56.00 to $52.00 and set a "hold" rating for the company in a report on Thursday, August 6th. Finally, Wells Fargo & Company upped their price objective on Exelixis from $40.00 to $49.00 and gave the stock an "equal weight" rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $50.07.

Exelixis Price Performance

EXEL opened at $54.08 on Monday. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $57.57. The company has a 50 day moving average of $54.26 and a two-hundred day moving average of $48.60. The company has a market cap of $13.40 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.61 and a beta of 0.44.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $628.69 million for the quarter, compared to analyst estimates of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.Exelixis's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS. Research analysts anticipate that Exelixis, Inc. will post 3.18 earnings per share for the current year.

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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