Measured Wealth Private Client Group LLC Makes New $423,000 Investment in Exelixis, Inc. (NASDAQ:EXEL)

Key Points

• Measured Wealth Private Client Group LLC has made a new investment in Exelixis, Inc., acquiring 11,446 shares valued at approximately $423,000.
• Multiple hedge funds, including Fuller & Thaler and Invesco, have increased their stakes in Exelixis, with institutional investors holding approximately 85.27% of the stock.
• Exelixis reported a $0.75 EPS for the last quarter, exceeding analysts' expectations, although revenue decreased by 10.8% year-over-year.

Measured Wealth Private Client Group LLC acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 11,446 shares of the biotechnology company's stock, valued at approximately $423,000.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Exelixis by 32.2% in the 1st quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company's stock worth $201,000 after acquiring an additional 1,328 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Exelixis during the 4th quarter worth $17,046,000. Wells Fargo & Company MN lifted its holdings in Exelixis by 1,637.9% during the 4th quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company's stock worth $24,851,000 after buying an additional 703,343 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Exelixis by 10.6% during the 1st quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company's stock worth $272,000 after buying an additional 707 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Exelixis by 23.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company's stock worth $9,159,000 after buying an additional 47,845 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Exelixis Trading Up 1.4%

Shares of Exelixis stock traded up $0.54 during trading hours on Tuesday, reaching $37.95. 4,284,158 shares of the company's stock were exchanged, compared to its average volume of 3,094,159. The company has a 50 day moving average of $42.30 and a two-hundred day moving average of $39.04. Exelixis, Inc. has a fifty-two week low of $25.12 and a fifty-two week high of $49.62. The stock has a market cap of $10.22 billion, a P/E ratio of 18.25, a P/E/G ratio of 0.78 and a beta of 0.29.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings data 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 net margin of 27.01% and a return on equity of 27.47%. The company had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. During the same period in the prior year, the business posted $0.84 EPS. The company's quarterly revenue was down 10.8% on a year-over-year basis. As a group, analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EXEL has been the topic of several research reports. William Blair reaffirmed an "outperform" rating on shares of Exelixis in a report on Tuesday, July 29th. Morgan Stanley reduced their price objective on Exelixis from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Tuesday, July 29th. HC Wainwright set a $46.00 price objective on Exelixis and gave the stock a "buy" rating in a report on Tuesday. Bank of America upped their price objective on Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Finally, Stephens raised Exelixis from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $29.00 to $60.00 in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Exelixis presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.06.

Insiders Place Their Bets

In related news, CMO Amy C. Peterson sold 72,776 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $45.47, for a total value of $3,309,124.72. Following the completion of the sale, the chief marketing officer directly owned 465,393 shares in the company, valued at approximately $21,161,419.71. This trade represents a 13.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jack L. Wyszomierski sold 7,535 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total transaction of $324,683.15. Following the completion of the sale, the director owned 358,882 shares of the company's stock, valued at $15,464,225.38. This trade represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 456,605 shares of company stock worth $20,966,005 in the last three months. Insiders own 2.85% of the company's stock.

Exelixis Profile

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.