Blue Capital Inc. Makes New Investment in Exelixis, Inc. $EXEL

Blue Capital Inc. purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 16,478 shares of the biotechnology company’s stock, valued at approximately $707,000.

Several other large investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Exelixis by 11.2% in the third quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock worth $172,658,000 after acquiring an additional 419,596 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Exelixis by 62.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 187,154 shares of the biotechnology company’s stock valued at $8,224,000 after acquiring an additional 71,987 shares during the period. Elo Mutual Pension Insurance Co lifted its position in shares of Exelixis by 124.3% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 54,643 shares of the biotechnology company’s stock valued at $2,257,000 after acquiring an additional 30,279 shares in the last quarter. Stephens Investment Management Group LLC lifted its position in shares of 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 in the last quarter. Finally, Private Client Services LLC acquired a new position in Exelixis in the 4th quarter worth approximately $1,992,000. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 32,110 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 357,638 shares of the company’s stock, valued at $17,813,948.78. This represents a 8.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jack L. Wyszomierski sold 3,925 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.55, for a total value of $198,408.75. Following the sale, the director directly owned 284,384 shares of the company’s stock, valued at $14,375,611.20. This trade represents a 1.36% 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. Insiders sold 219,170 shares of company stock valued at $10,620,641 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on EXEL shares. Citizens Jmp lifted their price objective on shares of Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Wednesday, June 24th. Truist Financial cut Exelixis from a “buy” rating to a “hold” rating and raised their target price for the stock from $51.00 to $54.00 in a research report on Thursday, June 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a report on Tuesday, May 19th. HC Wainwright reiterated a “buy” rating and set a $56.00 price target on shares of Exelixis in a report on Thursday. Finally, Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $47.60.

Exelixis Stock Performance

Shares of EXEL opened at $55.85 on Friday. The company has a market capitalization of $14.04 billion, a PE ratio of 18.55, a PEG ratio of 1.56 and a beta of 0.42. The company’s 50 day moving average price is $50.38 and its 200 day moving average price is $45.90. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $56.21.

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

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.