Brookstone Capital Management Makes New $661,000 Investment in Exelixis, Inc. $EXEL

Brookstone Capital Management acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 16,016 shares of the biotechnology company’s stock, valued at approximately $661,000.

A number of other large investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in Exelixis by 73.8% in the 1st quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company’s stock worth $250,869,000 after purchasing an additional 2,926,884 shares in the last quarter. Norges Bank acquired a new position in Exelixis in the second quarter worth approximately $122,099,000. Qube Research & Technologies Ltd raised its holdings in shares of Exelixis by 120.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock valued at $134,306,000 after purchasing an additional 1,665,110 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Exelixis by 42.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock valued at $231,951,000 after buying an additional 1,580,567 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Exelixis by 776.8% in the 2nd quarter. Prudential Financial Inc. now owns 1,468,865 shares of the biotechnology company’s stock valued at $64,740,000 after acquiring an additional 1,301,330 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Exelixis Stock Down 1.9%

Shares of NASDAQ:EXEL opened at $45.37 on Tuesday. The firm has a market cap of $12.16 billion, a P/E ratio of 19.14, a P/E/G ratio of 0.83 and a beta of 0.40. Exelixis, Inc. has a 12 month low of $31.90 and a 12 month high of $49.62. The company’s 50-day moving average price is $42.04 and its two-hundred day moving average price is $40.96.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The company had revenue of $597.76 million for the quarter, compared to analyst estimates of $590.04 million. During the same period in the prior year, the business earned $0.47 earnings per share. Exelixis’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In other Exelixis news, Director Mary C. Beckerle sold 24,622 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $41.93, for a total transaction of $1,032,400.46. Following the transaction, the director owned 21,380 shares of the company’s stock, valued at approximately $896,463.40. This represents a 53.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 48,383 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total value of $2,056,277.50. Following the completion of the transaction, the executive vice president owned 664,778 shares in the company, valued at $28,253,065. The trade was a 6.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 245,235 shares of company stock worth $10,490,600. Company insiders own 2.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EXEL shares. Stifel Nicolaus set a $43.00 price objective on Exelixis in a research report on Wednesday, November 5th. UBS Group raised their price objective on shares of Exelixis from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Leerink Partnrs raised Exelixis from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, Exelixis has an average rating of “Moderate Buy” and an average target price of $45.74.

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.