Heron Bay Capital Management Takes $6.25 Million Position in Exelixis, Inc. $EXEL

Heron Bay Capital Management acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 114,799 shares of the biotechnology company’s stock, valued at approximately $6,246,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors acquired a new position in Exelixis during the first quarter worth about $476,000. Stephens Investment Management Group LLC lifted its holdings in Exelixis by 1.1% in the 4th quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company’s stock valued at $111,303,000 after acquiring an additional 28,265 shares during the last quarter. JLB & Associates Inc. bought a new position in shares of Exelixis during the 2nd quarter valued at about $2,658,000. Annex Advisory Services LLC bought a new position in shares of Exelixis during the 2nd quarter valued at about $1,410,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Exelixis by 79.5% in the 4th quarter. BNP Paribas Financial Markets now owns 1,117,936 shares of the biotechnology company’s stock worth $48,999,000 after purchasing an additional 495,247 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling at Exelixis

In related news, Director Sue Gail Eckhardt sold 9,812 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $50.14, for a total transaction of $491,973.68. Following the transaction, the director owned 16,079 shares of the company’s stock, valued at approximately $806,201.06. This trade represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary C. Beckerle sold 9,812 shares of the business’s 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 represents a 37.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 67,000 shares of company stock worth $3,404,652 in the last ninety days. Insiders own 2.60% of the company’s stock.

Exelixis Price Performance

Shares of EXEL stock opened at $54.08 on Friday. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $57.57. The stock’s 50-day moving average is $54.26 and its two-hundred day moving average is $48.56. The firm has a market cap of $13.40 billion, a P/E ratio of 17.01, a PEG ratio of 1.60 and a beta of 0.44.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on EXEL. Citigroup reissued a “market outperform” rating on shares of Exelixis in a research note on Wednesday, July 22nd. Barclays lifted their price target on shares of Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. TD Cowen upped their price target on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen downgraded Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.07.

About Exelixis

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.