Exelixis, Inc. $EXEL Shares Bought by Three Seasons Wealth LLC

Key Points

• Three Seasons Wealth LLC increased its Exelixis stake by 345.6% in the first quarter, ending with 59,519 shares worth about $2.55 million.
• Several analysts lifted their price targets on Exelixis, but the stock still carries a “Hold” consensus with an average target price of $48.80.
• Exelixis reported strong quarterly results, with EPS of $0.87 and revenue of $610.81 million, both beating expectations; however, insiders have sold shares recently, including two EVP transactions in May.

Three Seasons Wealth LLC grew its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 345.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,519 shares of the biotechnology company's stock after acquiring an additional 46,162 shares during the quarter. Exelixis comprises approximately 1.0% of Three Seasons Wealth LLC's portfolio, making the stock its 28th biggest holding. Three Seasons Wealth LLC's holdings in Exelixis were worth $2,553,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXEL. Motiv8 Investments LLC purchased a new position in Exelixis in the 4th quarter valued at about $26,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Exelixis during the fourth quarter worth about $29,000. Activest Wealth Management acquired a new position in shares of Exelixis in the fourth quarter valued at approximately $32,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Exelixis by 1,380.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company's stock valued at $34,000 after buying an additional 773 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in shares of Exelixis during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Exelixis from $40.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Monday. Weiss Ratings raised Exelixis from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday, July 8th. Barclays raised their price objective on Exelixis from $45.00 to $49.00 and gave the stock an "equal weight" rating in a report on Tuesday. Stifel Nicolaus lifted their price objective on Exelixis from $44.00 to $47.00 and gave the company a "hold" rating in a research report on Wednesday, May 6th. Finally, TD Cowen upped their target price on Exelixis from $51.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $48.80.

Insiders Place Their Bets

In other Exelixis news, EVP Patrick J. Haley sold 32,110 shares of the company's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the sale, the executive vice president directly owned 357,638 shares in the company, valued at $17,813,948.78. This represents a 8.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Dana Aftab sold 43,451 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total value of $2,187,757.85. Following the completion of the transaction, the executive vice president owned 594,741 shares in the company, valued at approximately $29,945,209.35. This trade represents a 6.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 219,170 shares of company stock worth $10,620,641. Corporate insiders own 2.60% of the company's stock.

Exelixis Stock Performance

Exelixis stock opened at $55.55 on Thursday. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57. The firm has a 50 day moving average price of $52.30 and a 200 day moving average price of $46.66. The company has a market cap of $13.96 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.61 and a beta of 0.42.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company had revenue of $610.81 million for the quarter, compared to the consensus estimate of $607.51 million. During the same quarter last year, the firm posted $0.55 earnings per share. Exelixis's revenue was up 10.0% on a year-over-year basis. Sell-side analysts predict that Exelixis, Inc. will post 3.16 EPS 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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