Evolve Private Wealth LLC Takes Position in Exelixis, Inc. $EXEL

Evolve Private Wealth LLC bought a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 38,016 shares of the biotechnology company's stock, valued at approximately $2,068,000.

A number of other large investors also recently added to or reduced their stakes in EXEL. Motiv8 Investments LLC bought a new position in shares of Exelixis during the fourth quarter valued at about $26,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Exelixis in the 1st quarter valued at about $27,000. Western Wealth Management LLC bought a new stake in shares of Exelixis in the 1st quarter valued at about $29,000. Acumen Wealth Advisors LLC purchased a new stake in Exelixis during the 4th quarter valued at about $29,000. Finally, Activest Wealth Management purchased a new stake in Exelixis during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Exelixis Price Performance

EXEL stock opened at $54.08 on Friday. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57. The company has a market cap of $13.40 billion, a P/E ratio of 17.01, a PEG ratio of 1.61 and a beta of 0.44. The firm has a 50-day moving average of $54.26 and a 200 day moving average of $48.56.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The business had revenue of $628.69 million for the quarter, compared to analysts' expectations of $636.40 million. During the same period in the previous year, the firm posted $0.75 EPS. The business's revenue was up 10.6% on a year-over-year basis. On average, equities research analysts expect that Exelixis, Inc. will post 3.18 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In other Exelixis news, Director Jack L. Wyszomierski sold 3,925 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $50.55, for a total value of $198,408.75. Following the sale, the director owned 284,384 shares in the company, valued at approximately $14,375,611.20. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 firm's stock in a transaction that occurred on 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 directly owned 16,079 shares of the company's stock, valued at $806,201.06. This represents a 37.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 67,000 shares of company stock worth $3,404,652 in the last ninety days. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EXEL shares. HC Wainwright reiterated a "buy" rating and issued a $56.00 price objective on shares of Exelixis in a research report on Thursday, July 2nd. Barclays lifted their target price on shares of Exelixis from $45.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 14th. UBS Group set a $55.00 price target on shares of Exelixis in a report on Monday, August 3rd. Morgan Stanley increased their price target on shares of Exelixis from $50.00 to $53.00 and gave the company an "equal weight" rating in a research report on Thursday, July 23rd. Finally, Citigroup restated a "market outperform" rating on shares of Exelixis in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $50.07.

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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