Jupiter Topco LLC Purchases Shares of 1,236,393 Exelixis, Inc. $EXEL

Key Points

• Jupiter Topco LLC acquired 1,236,393 Exelixis shares worth approximately $67.3 million, representing about 0.50% of the company. Institutional investors collectively own 85.27% of Exelixis.
• Exelixis beat quarterly earnings expectations, reporting $0.91 in EPS versus the $0.85 consensus, while revenue rose 10.6% year over year to $628.69 million, slightly below estimates.
• The stock opened at $55.26, near its 52-week high of $57.57, but analysts maintain a consensus “Hold” rating with an average price target of $50.07; insiders have sold 23,549 shares worth about $1.2 million over the past 90 days.

Jupiter Topco LLC acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,236,393 shares of the biotechnology company's stock, valued at approximately $67,299,000. Jupiter Topco LLC owned approximately 0.50% of Exelixis at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXEL. Sumitomo Mitsui Trust Group Inc. raised its stake in Exelixis by 0.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company's stock valued at $2,549,000 after purchasing an additional 281 shares in the last quarter. Meeder Advisory Services Inc. raised its position in shares of Exelixis by 5.8% during the 4th quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company's stock valued at $237,000 after buying an additional 298 shares in the last quarter. Cim LLC lifted its holdings in shares of Exelixis by 0.9% in the 3rd quarter. Cim LLC now owns 35,397 shares of the biotechnology company's stock valued at $1,462,000 after acquiring an additional 305 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in Exelixis by 6.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company's stock worth $235,000 after acquiring an additional 329 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its stake in Exelixis by 3.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 9,077 shares of the biotechnology company's stock worth $389,000 after acquiring an additional 333 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Exelixis Price Performance

Shares of Exelixis stock opened at $55.26 on Friday. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57. The firm's 50-day moving average is $54.52 and its two-hundred day moving average is $48.96. The stock has a market cap of $13.69 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.67 and a beta of 0.44.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, beating 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 business had revenue of $628.69 million for the quarter, compared to the consensus estimate of $636.40 million. During the same quarter last year, the firm posted $0.75 EPS. The company's revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities analysts expect that Exelixis, Inc. will post 3.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EXEL shares. Stifel Nicolaus lifted their target price on Exelixis from $47.00 to $51.00 and gave the stock a "hold" rating in a report on Thursday, August 6th. Royal Bank Of Canada boosted their price objective on shares of Exelixis from $43.00 to $46.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 7th. Zacks Research lowered shares of Exelixis from a "hold" rating to a "strong sell" rating in a report on Monday, August 3rd. Morgan Stanley upped their price target on shares of Exelixis from $50.00 to $53.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Exelixis from $40.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Exelixis currently has a consensus rating of "Hold" and an average target price of $50.07.

Insider Activity at Exelixis

In other Exelixis news, Director Sue Gail Eckhardt sold 9,812 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $50.14, for a total transaction of $491,973.68. Following the completion of the sale, the director owned 16,079 shares in the company, valued at $806,201.06. This represents 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack L. Wyszomierski sold 3,925 shares of the stock in a transaction on 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 directly owned 284,384 shares in the company, valued at $14,375,611.20. This trade represents a 1.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,549 shares of company stock valued at $1,216,894 over the last ninety days. 2.60% of the stock is owned by company insiders.

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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