Exelixis, Inc. $EXEL Position Boosted by IFP Advisors Inc

Key Points

• IFP Advisors increased its Exelixis stake by 45.1% in the third quarter, bringing its holdings to 62,529 shares valued at approximately $3.65 million. Institutional investors collectively own 85.27% of the company.
• Exelixis reported quarterly earnings of $0.91 per share, beating estimates of $0.85, while revenue rose 10.6% year over year to $628.69 million, slightly below expectations.
• EXEL shares opened at $62.68, near their 12-month high of $63.39. Despite some positive analyst upgrades, the stock carries a consensus “Hold” rating with an average price target of $51.50.

IFP Advisors Inc increased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 45.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,529 shares of the biotechnology company's stock after purchasing an additional 19,428 shares during the quarter. IFP Advisors Inc's holdings in Exelixis were worth $3,652,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXEL. Cassaday & Co Wealth Management LLC acquired a new position in shares of Exelixis in the 1st quarter worth approximately $27,000. Western Wealth Management LLC acquired a new stake in shares of Exelixis in the first quarter valued at $29,000. Mather Group LLC. grew its stake in shares of Exelixis by 124.6% in the third quarter. Mather Group LLC. now owns 757 shares of the biotechnology company's stock valued at $44,000 after buying an additional 420 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Exelixis in the 2nd quarter valued at $46,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Exelixis during the 2nd quarter worth about $57,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Exelixis

In related news, Director Mary 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 transaction of $526,511.92. Following the sale, the director owned 16,079 shares of the company's stock, valued at approximately $862,799.14. The trade was a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.60% of the company's stock.

Exelixis Trading Up 0.7%

Shares of EXEL opened at $62.68 on Tuesday. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $63.39. The firm's fifty day simple moving average is $57.09 and its 200-day simple moving average is $53.09. The firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.75 and a beta of 0.47.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data 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 business had revenue of $628.69 million during the quarter, compared to analysts' expectations of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The company'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 earned $0.75 EPS. On average, analysts predict that Exelixis, Inc. will post 3.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings raised Exelixis from a "buy (a-)" rating to a "buy (a)" rating in a research report on Thursday, October 8th. Barclays increased their price target on shares of Exelixis from $45.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 14th. Truist Financial raised their price objective on shares of Exelixis from $52.00 to $54.00 and gave the company a "hold" rating in a research note on Wednesday, October 7th. UBS Group set a $55.00 price objective on shares of Exelixis in a report on Monday, August 3rd. Finally, Zacks Research upgraded shares of Exelixis from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Exelixis presently has a consensus rating of "Hold" and an average target price of $51.50.

Exelixis Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company's research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis' lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.

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