Deutsche Bank AG Acquires Shares of 60,390 Exelixis, Inc. $EXEL

Deutsche Bank AG acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 60,390 shares of the biotechnology company’s stock, valued at approximately $3,286,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Motiv8 Investments LLC purchased a new position in Exelixis during the fourth quarter worth $26,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Exelixis in the 1st quarter worth about $27,000. Acumen Wealth Advisors LLC bought a new stake in shares of Exelixis in the 4th quarter worth about $29,000. Western Wealth Management LLC bought a new position in Exelixis during the 1st quarter valued at about $29,000. Finally, Activest Wealth Management purchased a new stake in Exelixis in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Trading Down 1.1%

EXEL opened at $56.10 on Thursday. The business’s fifty day simple moving average is $54.46 and its 200-day simple moving average is $48.88. The company has a market capitalization of $13.90 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 1.69 and a beta of 0.44. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57.

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

Analyst Ratings Changes

Several analysts have issued reports on EXEL shares. Wall Street Zen downgraded shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Wells Fargo & Company raised their price target on Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, July 13th. UBS Group set a $55.00 price objective on Exelixis in a report on Monday, August 3rd. Stifel Nicolaus increased their target price on Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. Finally, Barclays lifted their target price on Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Exelixis currently has a consensus rating of “Hold” and an average price target of $50.07.

Insider Transactions at Exelixis

In other news, Director Jack L. Wyszomierski sold 3,925 shares of the stock in a transaction that occurred 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 approximately $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 accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary C. Beckerle sold 9,812 shares of Exelixis stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the transaction, the director directly owned 16,079 shares in the company, valued at approximately $862,799.14. The trade was a 37.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 23,549 shares of company stock valued at $1,216,894. 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.