Exelixis, Inc. (NASDAQ:EXEL) Stake Raised by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Exelixis, Inc. by 74.5%, owning approximately 0.07% of the company worth $6.9 million after acquiring 79,885 additional shares.
• Several institutional investors, including Invesco Ltd. and Fuller & Thaler Asset Management Inc., have significantly raised their holdings in Exelixis during the fourth quarter, indicating strong institutional support.
• Exelixis reported earnings of $0.75 per share, surpassing estimates, though revenue decreased by 10.8% year-over-year, reflecting challenges in the market.

LPL Financial LLC raised its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 74.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 187,097 shares of the biotechnology company's stock after buying an additional 79,885 shares during the quarter. LPL Financial LLC owned about 0.07% of Exelixis worth $6,908,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EXEL. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Exelixis by 3.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,913 shares of the biotechnology company's stock worth $2,434,000 after purchasing an additional 2,466 shares during the period. Allium Financial Advisors LLC purchased a new position in shares of Exelixis in the 1st quarter worth $253,000. HB Wealth Management LLC raised its position in shares of Exelixis by 12.2% in the 1st quarter. HB Wealth Management LLC now owns 23,485 shares of the biotechnology company's stock worth $867,000 after buying an additional 2,549 shares during the period. Marietta Investment Partners LLC raised its position in shares of Exelixis by 32.0% in the 1st quarter. Marietta Investment Partners LLC now owns 71,694 shares of the biotechnology company's stock worth $2,647,000 after buying an additional 17,400 shares during the period. Finally, Longbow Finance SA purchased a new position in shares of Exelixis in the 1st quarter worth $4,370,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EXEL. Benchmark reaffirmed a "neutral" rating on shares of Exelixis in a research report on Monday, June 23rd. Royal Bank Of Canada cut their target price on Exelixis from $50.00 to $45.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 29th. Jefferies Financial Group set a $50.00 target price on Exelixis and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Wells Fargo & Company reissued a "market outperform" rating on shares of Exelixis in a research report on Thursday, April 17th. Finally, JMP Securities reissued a "market outperform" rating and issued a $50.00 price objective on shares of Exelixis in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $44.06.

Exelixis Stock Down 0.5%

Shares of Exelixis stock traded down $0.19 during trading hours on Friday, hitting $38.28. 229,396 shares of the company's stock traded hands, compared to its average volume of 3,065,768. The stock has a 50 day simple moving average of $42.05 and a 200-day simple moving average of $39.07. The company has a market cap of $10.31 billion, a PE ratio of 18.40, a PEG ratio of 0.80 and a beta of 0.29. Exelixis, Inc. has a twelve month low of $25.12 and a twelve month high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.12. Exelixis had a return on equity of 27.47% and a net margin of 27.01%. The business had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. During the same period last year, the firm earned $0.84 earnings per share. The company's revenue for the quarter was down 10.8% compared to the same quarter last year. As a group, equities research analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Tomas J. Heyman sold 4,544 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $44.29, for a total value of $201,253.76. Following the transaction, the director owned 32,470 shares of the company's stock, valued at $1,438,096.30. This trade represents a 12.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sue Gail Eckhardt sold 18,838 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $42.74, for a total transaction of $805,136.12. Following the completion of the transaction, the director directly owned 21,380 shares in the company, valued at $913,781.20. This represents a 46.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,304 shares of company stock worth $2,846,164. Insiders own 2.82% of the company's stock.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.