OP Asset Management Ltd Purchases Shares of 10,626 Exelixis, Inc. $EXEL

OP Asset Management Ltd purchased a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,626 shares of the biotechnology company’s stock, valued at approximately $456,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new stake in Exelixis during the first quarter valued at approximately $249,000. Brookstone Capital Management increased its holdings in shares of Exelixis by 31.6% in the 1st quarter. Brookstone Capital Management now owns 21,158 shares of the biotechnology company’s stock worth $907,000 after buying an additional 5,076 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Exelixis by 39.2% in the 1st quarter. SG Americas Securities LLC now owns 50,495 shares of the biotechnology company’s stock worth $2,166,000 after buying an additional 14,207 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Exelixis by 248.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 152,320 shares of the biotechnology company’s stock valued at $6,533,000 after buying an additional 108,662 shares in the last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Exelixis during the 4th quarter valued at $192,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EXEL shares. TD Cowen upped their target price on shares of Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Stifel Nicolaus lifted their price target on Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. HC Wainwright increased their price objective on Exelixis from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Truist Financial lowered Exelixis from a “buy” rating to a “hold” rating and increased their price objective for the company from $51.00 to $54.00 in a research report on Thursday, June 25th. Finally, Barclays raised their price objective on Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Exelixis currently has a consensus rating of “Hold” and a consensus target price of $46.87.

Exelixis Stock Up 0.2%

NASDAQ EXEL opened at $54.41 on Wednesday. The company has a 50-day simple moving average of $49.97 and a two-hundred day simple moving average of $45.71. 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 $13.68 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.56 and a beta of 0.41.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data 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. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. During the same period last year, the firm earned $0.55 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts expect that Exelixis, Inc. will post 3.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In related news, CFO Christopher J. Senner sold 34,901 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the transaction, the chief financial officer directly owned 952,317 shares in the company, valued at $47,615,850. This trade represents a 3.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maria C. Freire sold 20,634 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $46.00, for a total value of $949,164.00. Following the completion of the sale, the director owned 100,819 shares of the company’s stock, valued at $4,637,674. The trade was a 16.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 219,170 shares of company stock worth $10,620,641 over the last quarter. Company insiders own 2.60% of the company’s stock.

Exelixis Company 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.