Impact Partnership Wealth LLC Takes $729,000 Position in Exelixis, Inc. $EXEL

Impact Partnership Wealth LLC bought a new position in Exelixis, Inc. (NASDAQ:EXEL) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,990 shares of the biotechnology company’s stock, valued at approximately $729,000.

Several other large investors have also recently bought and sold shares of the business. Inspire Investing LLC grew its stake in Exelixis by 11.2% during the 1st quarter. Inspire Investing LLC now owns 66,244 shares of the biotechnology company’s stock valued at $2,841,000 after acquiring an additional 6,661 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Exelixis by 76.0% in the first quarter. Janney Montgomery Scott LLC now owns 26,558 shares of the biotechnology company’s stock worth $1,139,000 after purchasing an additional 11,466 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Exelixis by 29.3% in the first quarter. Pictet Asset Management Holding SA now owns 628,601 shares of the biotechnology company’s stock worth $26,409,000 after purchasing an additional 142,579 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Exelixis during the first quarter worth approximately $3,230,000. Finally, Blue Trust Inc. boosted its holdings in shares of Exelixis by 7.0% during the first quarter. Blue Trust Inc. now owns 15,939 shares of the biotechnology company’s stock worth $684,000 after purchasing an additional 1,036 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Down 0.8%

Shares of EXEL opened at $53.96 on Thursday. The company’s fifty day moving average is $50.18 and its 200-day moving average is $45.80. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $55.91. The firm has a market cap of $13.56 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 1.57 and a beta of 0.42.

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, beating analysts’ consensus estimates of $0.75 by $0.12. The business had revenue of $610.81 million for the quarter, compared to the consensus estimate of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. Exelixis’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. As a group, research analysts predict that Exelixis, Inc. will post 3.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Dana Aftab sold 43,451 shares of the firm’s stock in a transaction that occurred on 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 directly owned 594,741 shares of the company’s stock, valued at approximately $29,945,209.35. This trade represents a 6.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sue Gail Eckhardt sold 9,812 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $50.14, for a total value of $491,973.68. Following the completion of the sale, 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 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 ninety days, insiders have sold 219,170 shares of company stock valued at $10,620,641. 2.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

EXEL has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. HC Wainwright boosted their price target on shares of Exelixis from $54.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Zacks Research lowered Exelixis from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a research report on Tuesday, May 19th. Eight equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.87.

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.