Focus Partners Advisor Solutions LLC Buys Shares of 26,603 Exelixis, Inc. $EXEL

Key Points

• Focus Partners Advisor Solutions initiated a position in Exelixis by purchasing 26,603 shares worth approximately $1.45 million. Institutional investors and hedge funds collectively own 85.27% of the company.
• Exelixis reported quarterly EPS of $0.91, beating analyst expectations of $0.85, while revenue rose 10.6% year over year to $628.69 million, slightly below estimates.
• The stock opened at $51.24, compared with a consensus analyst target of $49.79 and a “Hold” consensus rating. Meanwhile, insiders sold 99,110 shares worth roughly $5.0 million during the last quarter.

Focus Partners Advisor Solutions LLC purchased a new position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 26,603 shares of the biotechnology company's stock, valued at approximately $1,447,000.

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

Exelixis Price Performance

Shares of Exelixis stock opened at $51.24 on Monday. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $57.57. The firm has a market capitalization of $12.70 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.53 and a beta of 0.44. The company's fifty day moving average price is $54.19 and its two-hundred day moving average price is $48.22.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The company had revenue of $628.69 million during the quarter, compared to the consensus estimate of $636.40 million. During the same period last year, the firm earned $0.75 EPS. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts predict that Exelixis, Inc. will post 3.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on EXEL. TD Cowen boosted their price objective on shares of Exelixis from $51.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Wall Street Zen cut shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Stifel Nicolaus lifted their target price on Exelixis from $47.00 to $51.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. Zacks Research lowered Exelixis from a "hold" rating to a "strong sell" rating in a research note on Monday, August 3rd. Finally, Weiss Ratings raised Exelixis from a "buy (b)" rating to a "buy (a-)" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $49.79.

Insiders Place Their Bets

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 transaction of $198,408.75. Following the sale, the director directly owned 284,384 shares of the company's stock, 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 filing 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 stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $50.14, for a total value of $491,973.68. Following the sale, the director owned 16,079 shares in the company, valued at approximately $806,201.06. This trade represents a 37.90% decrease in their ownership of the stock. 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 99,110 shares of company stock worth $5,004,051 in the last quarter. 2.60% of the stock is owned by corporate insiders.

About Exelixis

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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