Burney Co. Has $5.80 Million Stock Holdings in Exelixis, Inc. $EXEL

Burney Co. decreased its position in Exelixis, Inc. (NASDAQ:EXEL) by 33.9% during the 1st quarter, HoldingsChannel reports. The fund owned 135,207 shares of the biotechnology company’s stock after selling 69,390 shares during the quarter. Burney Co.’s holdings in Exelixis were worth $5,799,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of EXEL. Anchor Investment Management LLC raised its holdings in shares of Exelixis by 500.0% in the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Motiv8 Investments LLC acquired a new position in Exelixis during the fourth quarter worth $26,000. Acumen Wealth Advisors LLC acquired a new position in Exelixis during the fourth quarter worth $29,000. Activest Wealth Management bought a new position in Exelixis in the fourth quarter valued at $32,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Exelixis by 1,380.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 773 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Price Performance

Shares of EXEL opened at $55.53 on Tuesday. The firm has a 50-day moving average of $50.75 and a 200-day moving average of $46.10. Exelixis, Inc. has a one year low of $33.76 and a one year high of $56.21. The company has a market cap of $13.96 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.61 and a beta of 0.42.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on EXEL shares. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a research report on Tuesday, May 19th. Morgan Stanley restated a “positive” rating on shares of Exelixis in a report on Monday, June 22nd. Stifel Nicolaus lifted their target price on Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Barclays upped their target price on Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, April 20th. Finally, Citizens Jmp raised their price target on Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research note on Wednesday, June 24th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.73.

Insider Buying and Selling

In other news, Director Sue Gail Eckhardt sold 9,812 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $50.14, for a total transaction of $491,973.68. Following the completion of the sale, the director owned 16,079 shares in the company, valued at approximately $806,201.06. This trade represents a 37.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick J. Haley sold 32,110 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the sale, the executive vice president owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. This represents a 8.24% decrease in their position. 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. Insiders own 2.60% of the company’s stock.

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.