Los Angeles Capital Management LLC Acquires 142,886 Shares of Exelixis, Inc. $EXEL

Los Angeles Capital Management LLC raised its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 14.5% in the fourth quarter, Holdings Channel reports. The firm owned 1,131,018 shares of the biotechnology company’s stock after purchasing an additional 142,886 shares during the period. Los Angeles Capital Management LLC’s holdings in Exelixis were worth $49,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Anchor Investment Management LLC grew its stake in Exelixis by 500.0% in the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares during the period. Activest Wealth Management bought a new position in Exelixis in the 4th quarter valued at $32,000. Northwestern Mutual Wealth Management Co. grew its stake in Exelixis by 1,380.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 773 shares during the period. V Square Quantitative Management LLC bought a new position in Exelixis in the 4th quarter valued at $44,000. Finally, Abich Financial Wealth Management LLC bought a new position in Exelixis in the 3rd quarter valued at $47,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EXEL shares. Stifel Nicolaus upped their price objective on Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. TD Cowen upped 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. Wells Fargo & Company upped their price objective on Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Barclays upped their price objective on Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Finally, Truist Financial raised Exelixis to a “strong-buy” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Exelixis has an average rating of “Hold” and an average price target of $47.35.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $52.70 on Friday. Exelixis, Inc. has a one year low of $33.76 and a one year high of $52.98. The business’s fifty day moving average price is $46.96 and its 200-day moving average price is $44.53. The stock has a market capitalization of $13.25 billion, a PE ratio of 17.51, a P/E/G ratio of 1.52 and a beta of 0.41.

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 firm had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities analysts expect that Exelixis, Inc. will post 3.16 EPS for the current fiscal year.

Insider Activity

In other news, Director George Poste sold 60,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $45.71, for a total transaction of $2,742,600.00. Following the transaction, the director owned 118,832 shares of the company’s stock, valued at $5,431,810.72. This represents a 33.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maria C. Freire sold 20,634 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $46.00, for a total value of $949,164.00. Following the sale, the director directly owned 100,819 shares in the company, valued at $4,637,674. This trade represents a 16.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 219,170 shares of company stock worth $10,620,641. 2.60% of the stock is owned by company insiders.

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.