Expressive Wealth LLC Invests $690,000 in Exelixis, Inc. $EXEL

Expressive Wealth LLC acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,676 shares of the biotechnology company’s stock, valued at approximately $690,000.

Other hedge funds have also made changes to their positions in the company. Motiv8 Investments LLC acquired a new stake in Exelixis in the fourth quarter worth approximately $26,000. Cassaday & Co Wealth Management LLC bought a new position in Exelixis during the 1st quarter valued at $27,000. Western Wealth Management LLC acquired a new position in shares of Exelixis during the 1st quarter valued at $29,000. Acumen Wealth Advisors LLC acquired a new position in shares of Exelixis during the 4th quarter valued at $29,000. Finally, Activest Wealth Management acquired a new position in shares of Exelixis during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Royal Bank Of Canada lifted their target price on Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. UBS Group set a $55.00 price target on shares of Exelixis in a research report on Monday, August 3rd. HC Wainwright reissued a “buy” rating and issued a $56.00 price target on shares of Exelixis in a report on Thursday, July 2nd. Finally, Stifel Nicolaus upped their price target on shares of Exelixis from $47.00 to $51.00 and gave the company a “hold” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.07.

Exelixis Stock Performance

Exelixis stock opened at $54.08 on Friday. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $57.57. The firm has a market capitalization of $13.40 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 1.60 and a beta of 0.44. The company has a 50 day moving average price of $54.26 and a 200 day moving average price of $48.56.

Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The company had revenue of $628.69 million during the quarter, compared to analyst estimates of $636.40 million. During the same quarter in the prior year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities analysts forecast that Exelixis, Inc. will post 3.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Dana Aftab sold 43,451 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total value of $2,187,757.85. Following the transaction, the executive vice president owned 594,741 shares in the company, valued at $29,945,209.35. This represents a 6.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary C. Beckerle sold 9,812 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the sale, the director directly owned 16,079 shares of the company’s stock, valued at $862,799.14. This trade represents a 37.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 67,000 shares of company stock valued at $3,404,652. 2.60% of the stock is owned by insiders.

Exelixis Company 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.