NewEdge Wealth LLC Purchases 212,553 Shares of Exelixis, Inc. (NASDAQ:EXEL)

NewEdge Wealth LLC boosted its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 45.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 681,104 shares of the biotechnology company's stock after purchasing an additional 212,553 shares during the period. NewEdge Wealth LLC owned about 0.22% of Exelixis worth $16,340,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EXEL. Contravisory Investment Management Inc. bought a new position in Exelixis during the 4th quarter valued at about $26,000. Denali Advisors LLC increased its position in Exelixis by 7,995.2% in the 3rd quarter. Denali Advisors LLC now owns 1,700 shares of the biotechnology company's stock valued at $37,000 after acquiring an additional 1,679 shares in the last quarter. Covestor Ltd increased its position in Exelixis by 245.6% in the 1st quarter. Covestor Ltd now owns 1,676 shares of the biotechnology company's stock valued at $38,000 after acquiring an additional 1,191 shares in the last quarter. Fifth Third Bancorp increased its position in Exelixis by 44.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,970 shares of the biotechnology company's stock valued at $43,000 after acquiring an additional 604 shares in the last quarter. Finally, Ronald Blue Trust Inc. increased its position in Exelixis by 87.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,552 shares of the biotechnology company's stock valued at $56,000 after acquiring an additional 1,189 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Up 0.7 %

NASDAQ EXEL traded up $0.16 during trading on Friday, reaching $22.81. 1,943,077 shares of the stock traded hands, compared to its average volume of 2,301,867. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of 0.63 and a beta of 0.54. The stock's 50-day moving average price is $22.30 and its 200 day moving average price is $22.11. Exelixis, Inc. has a fifty-two week low of $18.08 and a fifty-two week high of $24.34.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.02. The firm had revenue of $479.65 million during the quarter, compared to analysts' expectations of $481.23 million. Exelixis had a net margin of 11.35% and a return on equity of 8.57%. Analysts anticipate that Exelixis, Inc. will post 1.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EXEL shares. Citigroup started coverage on shares of Exelixis in a research report on Friday, December 15th. They issued a "buy" rating and a $31.00 price objective for the company. William Blair restated an "outperform" rating on shares of Exelixis in a research report on Friday, January 26th. Stifel Nicolaus raised their price objective on shares of Exelixis from $23.00 to $25.00 and gave the company a "hold" rating in a research report on Friday, February 2nd. TheStreet upgraded shares of Exelixis from a "c+" rating to a "b-" rating in a research report on Monday, March 18th. Finally, JMP Securities reiterated a "market outperform" rating and set a $27.00 price target on shares of Exelixis in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $26.29.

Insider Buying and Selling at Exelixis

In related news, Director David Edward Johnson purchased 190,000 shares of the business's stock in a transaction on Wednesday, February 21st. The shares were purchased at an average price of $20.70 per share, with a total value of $3,933,000.00. Following the completion of the purchase, the director now owns 1,100,730 shares in the company, valued at approximately $22,785,111. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of Exelixis stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.45, for a total value of $1,008,579.00. Following the transaction, the executive vice president now owns 384,866 shares of the company's stock, valued at $8,255,375.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Edward Johnson purchased 190,000 shares of the business's stock in a transaction on Wednesday, February 21st. The stock was bought at an average cost of $20.70 per share, for a total transaction of $3,933,000.00. Following the purchase, the director now owns 1,100,730 shares of the company's stock, valued at approximately $22,785,111. The disclosure for this purchase can be found here. Insiders own 2.90% 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.

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