Cypress Capital LLC Invests $737,000 in Exelixis, Inc. $EXEL

Cypress Capital LLC acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,854 shares of the biotechnology company’s stock, valued at approximately $737,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Belpointe Asset Management LLC acquired a new position in Exelixis in the first quarter valued at $572,000. TriaGen Wealth Management LLC purchased a new stake in shares of Exelixis in the 3rd quarter valued at about $2,024,000. Fox Run Management L.L.C. purchased a new position in Exelixis during the 2nd quarter worth approximately $321,000. Capital Fund Management S.A. increased its position in Exelixis by 6.6% during the second quarter. Capital Fund Management S.A. now owns 283,639 shares of the biotechnology company’s stock worth $12,501,000 after buying an additional 17,673 shares during the period. Finally, D.A. Davidson & CO. purchased a new stake in Exelixis in the second quarter valued at approximately $212,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXEL has been the topic of a number of research reports. Wall Street Zen upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 14th. Royal Bank Of Canada reissued a “sector perform” rating and set a $45.00 price objective on shares of Exelixis in a research report on Tuesday, October 21st. Leerink Partners upgraded shares of Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research note on Tuesday, October 21st. Citigroup cut shares of Exelixis from a “market outperform” rating to an “underperform” rating in a report on Monday. Finally, Oppenheimer reissued a “market perform” rating and set a $36.00 price target on shares of Exelixis in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.53.

Exelixis Stock Up 5.7%

Shares of NASDAQ:EXEL opened at $46.19 on Thursday. Exelixis, Inc. has a 52 week low of $31.90 and a 52 week high of $49.62. The company has a 50-day moving average price of $42.82 and a 200 day moving average price of $41.10. The company has a market cap of $12.38 billion, a P/E ratio of 19.49, a PEG ratio of 0.81 and a beta of 0.40.

Exelixis (NASDAQ:EXEL) last issued 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 return on equity of 31.06% and a net margin of 29.63%.The business had revenue of $597.76 million during the quarter, compared to the consensus estimate of $590.04 million. During the same period in the prior year, the business posted $0.47 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts expect that Exelixis, Inc. will post 2.04 EPS for the current year.

Insiders Place Their Bets

In related news, Director Stelios Papadopoulos sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $43.55, for a total transaction of $4,355,000.00. Following the sale, the director owned 1,189,228 shares of the company’s stock, valued at approximately $51,790,879.40. The trade was a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick J. Haley sold 28,043 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $42.58, for a total transaction of $1,194,070.94. Following the transaction, the executive vice president owned 374,029 shares in the company, valued at $15,926,154.82. The trade was a 6.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 245,235 shares of company stock worth $10,490,600 in the last ninety days. 2.82% of the stock is owned by insiders.

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.