Ieq Capital LLC Buys New Holdings in Exelixis, Inc. $EXEL

Ieq Capital LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 451,768 shares of the biotechnology company’s stock, valued at approximately $24,581,000.

Other large investors also recently modified their holdings of the company. Motiv8 Investments LLC acquired a new position in shares of Exelixis in the 4th quarter valued at about $26,000. Cassaday & Co Wealth Management LLC purchased a new position in Exelixis in the first quarter valued at approximately $27,000. Western Wealth Management LLC purchased a new position in Exelixis in the first quarter valued at approximately $29,000. Acumen Wealth Advisors LLC acquired a new position in Exelixis during the fourth quarter valued at approximately $29,000. Finally, Activest Wealth Management purchased a new stake in Exelixis during the fourth quarter worth approximately $32,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $54.08 on Friday. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57. The stock’s 50-day simple moving average is $54.26 and its 200-day simple moving average is $48.56. The firm has a market cap of $13.40 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.60 and a beta of 0.44.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The firm had revenue of $628.69 million during the quarter, compared to analyst estimates of $636.40 million. During the same quarter last year, the firm earned $0.75 EPS. Exelixis’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts predict that Exelixis, Inc. will post 3.18 EPS for the current year.

Insider Activity at Exelixis

In other Exelixis news, Director Jack L. Wyszomierski sold 3,925 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $50.55, for a total transaction of $198,408.75. Following the transaction, the director directly owned 284,384 shares in the company, valued at $14,375,611.20. This represents a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sue Gail Eckhardt sold 9,812 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $50.14, for a total transaction of $491,973.68. Following the transaction, the director directly owned 16,079 shares of the company’s stock, valued at approximately $806,201.06. This represents a 37.90% 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. Over the last three months, insiders sold 67,000 shares of company stock valued at $3,404,652. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EXEL. Wall Street Zen downgraded shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. BMO Capital Markets assumed coverage on Exelixis in a research report on Tuesday. They issued a “market perform” rating and a $54.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $56.00 price objective on shares of Exelixis in a research note on Thursday, July 2nd. Citizens Jmp increased their target price on Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research note on Wednesday, June 24th. Finally, Morgan Stanley boosted their price target on Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Exelixis has an average rating of “Hold” and a consensus price target of $50.07.

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.