Janney Montgomery Scott LLC Buys 11,466 Shares of Exelixis, Inc. $EXEL

Janney Montgomery Scott LLC raised its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 76.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 26,558 shares of the biotechnology company’s stock after purchasing an additional 11,466 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Exelixis were worth $1,139,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in EXEL. Wealth Enhancement Advisory Services LLC boosted its position in 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 last quarter. Stephens Investment Management Group LLC lifted its stake 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 purchasing an additional 28,265 shares during the period. Private Client Services LLC acquired a new position in shares of Exelixis in the 4th quarter valued at about $1,992,000. Nisa Investment Advisors LLC boosted its position in shares of Exelixis by 692.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 140,446 shares of the biotechnology company’s stock valued at $6,156,000 after purchasing an additional 122,720 shares in the last quarter. Finally, Strategic Investment Advisors MI grew its stake in Exelixis by 486.6% during the third quarter. Strategic Investment Advisors MI now owns 33,343 shares of the biotechnology company’s stock worth $1,377,000 after purchasing an additional 27,659 shares during the period. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In other news, Director Jack L. Wyszomierski sold 3,925 shares of Exelixis stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $50.55, for a total value of $198,408.75. Following the completion of the transaction, the director owned 284,384 shares in the company, valued at $14,375,611.20. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Senner sold 34,901 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the completion of the sale, the chief financial officer directly owned 952,317 shares in the company, valued at approximately $47,615,850. This trade represents a 3.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 219,170 shares of company stock worth $10,620,641 in the last three months. Insiders own 2.60% of the company’s stock.

Exelixis Price Performance

Shares of NASDAQ EXEL traded down $0.60 during midday trading on Friday, reaching $56.50. The company’s stock had a trading volume of 3,219,170 shares, compared to its average volume of 2,610,677. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57. The firm has a 50 day moving average price of $51.70 and a 200-day moving average price of $46.46. The stock has a market capitalization of $14.20 billion, a P/E ratio of 18.77, a PEG ratio of 1.63 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 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 company had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. During the same period last year, the business posted $0.55 earnings per share. Exelixis’s revenue was up 10.0% on a year-over-year basis. On average, equities analysts predict that Exelixis, Inc. will post 3.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Truist Financial increased their price target on Exelixis from $54.00 to $56.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. Weiss Ratings raised shares of Exelixis from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. Morgan Stanley reaffirmed a “positive” rating on shares of Exelixis in a research report on Monday, June 22nd. Royal Bank Of Canada upped their price target on Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $47.93.

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.