Exelixis, Inc. $EXEL Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in Exelixis, Inc. (NASDAQ:EXEL) by 135.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 17,355 shares of the biotechnology company’s stock after acquiring an additional 9,974 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Exelixis were worth $761,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Richardson Financial Services Inc. grew its position in shares of Exelixis by 95.1% in the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 292 shares during the period. Anchor Investment Management LLC increased its position in shares of Exelixis by 500.0% during the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 500 shares in the last quarter. Root Financial Partners LLC acquired a new position in Exelixis during the third quarter worth about $28,000. Activest Wealth Management purchased a new stake in Exelixis during the 4th quarter valued at about $32,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Exelixis by 1,380.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock worth $34,000 after buying an additional 773 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EXEL shares. Morgan Stanley boosted their target price on shares of Exelixis from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Wells Fargo & Company boosted their price target on shares of Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. TD Cowen increased their price objective on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Truist Financial raised shares of Exelixis to a “strong-buy” rating in a report on Monday, April 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $47.35.

Exelixis Trading Down 0.4%

Shares of NASDAQ EXEL opened at $51.10 on Friday. The stock has a market cap of $12.84 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.08 and a beta of 0.38. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $51.63. The stock has a 50 day moving average of $44.13 and a two-hundred day moving average of $43.44.

Exelixis (NASDAQ:EXEL) last announced 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. The business had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. As a group, research analysts predict that Exelixis, Inc. will post 3.15 earnings per share for the current year.

Insider Activity at Exelixis

In other Exelixis news, Director Jack L. Wyszomierski sold 99,574 shares of Exelixis stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total value of $4,382,251.74. Following the transaction, the director directly owned 279,942 shares in the company, valued at approximately $12,320,247.42. The trade was a 26.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dana Aftab sold 47,918 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the sale, the executive vice president owned 616,106 shares of the company’s stock, valued at $27,416,717. This trade represents a 7.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 382,811 shares of company stock worth $17,014,813 in the last three months. 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.