Cynosure Group LLC Purchases New Stake in Exelixis, Inc. $EXEL

Cynosure Group LLC purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,363 shares of the biotechnology company’s stock, valued at approximately $498,000.

A number of other institutional investors have also recently modified their holdings of the business. Farallon Capital Management LLC boosted its stake in shares of Exelixis by 21.6% in the third quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock valued at $805,412,000 after buying an additional 3,466,000 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Exelixis by 20.7% in the third quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock valued at $379,190,000 after buying an additional 1,575,280 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Exelixis by 7.1% in the third quarter. Invesco Ltd. now owns 5,960,525 shares of the biotechnology company’s stock valued at $246,170,000 after buying an additional 394,897 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Exelixis by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,259,677 shares of the biotechnology company’s stock worth $186,705,000 after purchasing an additional 78,765 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Exelixis by 31.0% during the fourth quarter. Morgan Stanley now owns 4,206,656 shares of the biotechnology company’s stock worth $184,378,000 after purchasing an additional 995,949 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Patrick J. Haley sold 32,110 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total value of $1,599,399.10. Following the completion of the transaction, the executive vice president directly owned 357,638 shares of the company’s stock, valued at $17,813,948.78. The trade was a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director George Poste sold 60,000 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $45.71, for a total value of $2,742,600.00. Following the completion of the transaction, the director directly owned 118,832 shares of the company’s stock, valued at approximately $5,431,810.72. This trade represents a 33.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 219,170 shares of company stock valued at $10,620,641. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

EXEL has been the subject of several research reports. Truist Financial raised Exelixis to a “strong-buy” rating in a report on Monday, April 27th. Stifel Nicolaus lifted their price objective on Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. TD Cowen lifted their price objective on Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Barclays lifted their price objective on Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, April 20th. Finally, Wells Fargo & Company lifted their price objective on Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $47.35.

Exelixis Stock Performance

Shares of EXEL stock opened at $52.10 on Wednesday. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $53.93. The stock has a market cap of $13.10 billion, a PE ratio of 17.31, a P/E/G ratio of 1.53 and a beta of 0.41. The stock has a fifty day moving average price of $48.33 and a 200 day moving average price of $45.04.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities research analysts predict that Exelixis, Inc. will post 3.16 earnings per share for the current year.

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.