Exelixis, Inc. $EXEL Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its position in Exelixis, Inc. (NASDAQ:EXEL) by 21.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,455 shares of the biotechnology company’s stock after buying an additional 30,356 shares during the period. Edgestream Partners L.P. owned approximately 0.07% of Exelixis worth $7,482,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Motiv8 Investments LLC purchased a new stake in shares of Exelixis in the fourth quarter valued at about $26,000. Cassaday & Co Wealth Management LLC purchased a new position in Exelixis during the first quarter worth about $27,000. Acumen Wealth Advisors LLC acquired a new stake in Exelixis in the fourth quarter valued at about $29,000. Activest Wealth Management acquired a new stake in Exelixis in the fourth quarter valued at about $32,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Exelixis by 1,380.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 773 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Trading Up 1.2%

Shares of EXEL opened at $55.97 on Friday. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $57.57. The firm has a market capitalization of $14.07 billion, a P/E ratio of 18.59, a PEG ratio of 1.60 and a beta of 0.42. The firm’s 50-day moving average is $53.67 and its two-hundred day moving average is $47.54.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. The company had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. Analysts predict that Exelixis, Inc. will post 3.15 EPS for the current year.

Analysts Set New Price Targets

EXEL has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and issued a $56.00 price target on shares of Exelixis in a report on Thursday, July 2nd. Morgan Stanley lifted their price target on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada upped their price objective on Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Finally, Citizens Jmp increased their price objective on Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Wednesday, June 24th. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.29.

Insider Activity

In other Exelixis news, CFO Christopher J. Senner sold 34,901 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the sale, the chief financial officer directly owned 952,317 shares in the company, valued at approximately $47,615,850. The trade was a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maria C. Freire sold 20,634 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $46.00, for a total value of $949,164.00. Following the completion of the transaction, the director owned 100,819 shares of the company’s stock, valued at approximately $4,637,674. This represents a 16.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 219,170 shares of company stock valued at $10,620,641 in the last 90 days. Insiders own 2.60% of the company’s stock.

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.