Sanctuary Advisors LLC Purchases 35,713 Shares of Exelixis, Inc. $EXEL

Key Points

• Sanctuary Advisors LLC increased its stake in Exelixis by 115.5%, buying 35,713 shares to own 66,624 shares valued at approximately $2.92 million per its most recent 13F filing.
• Wall Street's consensus rating is a Hold with an average target price of $47, as analyst opinions range from Strong Buy to Sell (1 Strong Buy, 9 Buy, 11 Hold, 2 Sell).
• Company insiders sold a total of 362,849 shares worth about $15.9 million over the last quarter, leaving insiders with roughly 2.82% ownership.

Sanctuary Advisors LLC grew its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 115.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,624 shares of the biotechnology company's stock after buying an additional 35,713 shares during the quarter. Sanctuary Advisors LLC's holdings in Exelixis were worth $2,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Richardson Financial Services Inc. lifted its holdings in shares of Exelixis by 95.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company's stock valued at $25,000 after buying an additional 292 shares during the period. RHS Financial LLC raised its holdings in Exelixis by 2.4% in the 4th quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company's stock worth $553,000 after purchasing an additional 293 shares during the period. Cim LLC raised its holdings in Exelixis by 0.9% in the 3rd quarter. Cim LLC now owns 35,397 shares of the biotechnology company's stock worth $1,462,000 after purchasing an additional 305 shares during the period. Evergreen Capital Management LLC raised its holdings in Exelixis by 6.4% in the 3rd quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company's stock worth $225,000 after purchasing an additional 329 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Exelixis by 5.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,919 shares of the biotechnology company's stock worth $327,000 after purchasing an additional 384 shares during the period. 85.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EXEL has been the topic of a number of recent research reports. Truist Financial raised Exelixis to a "strong-buy" rating in a report on Monday, April 27th. Morgan Stanley raised their target price on Exelixis from $48.00 to $49.00 and gave the stock an "equal weight" rating in a report on Monday, February 2nd. Citigroup cut Exelixis from a "market outperform" rating to an "underperform" rating in a report on Monday, January 5th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Exelixis in a report on Thursday, January 22nd. Finally, Barclays raised their target price on Exelixis from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $47.00.

Exelixis Stock Down 1.8%

NASDAQ:EXEL opened at $43.68 on Friday. The stock has a market cap of $11.10 billion, a PE ratio of 15.77, a P/E/G ratio of 1.00 and a beta of 0.38. The business's 50-day simple moving average is $43.31 and its two-hundred day simple moving average is $42.77. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.20. The firm had revenue of $598.66 million during the quarter, compared to analyst estimates of $609.17 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The business's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. Sell-side analysts anticipate that Exelixis, Inc. will post 3.07 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Dana Aftab sold 47,918 shares of the firm's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the completion of the transaction, the executive vice president owned 616,106 shares in the company, valued at $27,416,717. This trade represents a 7.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christopher J. Senner sold 34,278 shares of the firm's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $43.00, for a total value of $1,473,954.00. Following the transaction, the chief financial officer owned 1,042,579 shares of the company's stock, valued at approximately $44,830,897. The trade was a 3.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 362,849 shares of company stock valued at $15,917,463. 2.82% of the stock is owned by corporate 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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