Norden Group LLC Purchases New Position in Exelixis, Inc. $EXEL

Norden Group LLC acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 175,183 shares of the biotechnology company’s stock, valued at approximately $7,235,000. Exelixis comprises approximately 0.7% of Norden Group LLC’s investment portfolio, making the stock its 25th biggest holding. Norden Group LLC owned approximately 0.07% of Exelixis as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in EXEL. Belpointe Asset Management LLC purchased a new position in Exelixis during the 1st quarter worth $572,000. Fox Run Management L.L.C. acquired a new stake in shares of Exelixis during the second quarter worth about $321,000. D.A. Davidson & CO. purchased a new position in shares of Exelixis during the second quarter worth about $212,000. Capital Fund Management S.A. grew its holdings in shares of Exelixis by 6.6% during the second quarter. Capital Fund Management S.A. now owns 283,639 shares of the biotechnology company’s stock worth $12,501,000 after buying an additional 17,673 shares during the last quarter. Finally, Fortis Capital Advisors LLC acquired a new position in Exelixis in the 1st quarter valued at about $572,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group lifted their target price on Exelixis from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Oppenheimer reiterated a “market perform” rating and issued a $36.00 price objective on shares of Exelixis in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 14th. Barclays raised their target price on shares of Exelixis from $40.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Finally, Leerink Partners upgraded shares of Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.74.

Insider Activity at Exelixis

In other news, EVP Dana Aftab sold 48,383 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $42.50, for a total transaction of $2,056,277.50. Following the sale, the executive vice president owned 664,778 shares of the company’s stock, valued at $28,253,065. The trade was a 6.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary C. Beckerle sold 24,622 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $41.93, for a total value of $1,032,400.46. Following the completion of the transaction, the director directly owned 21,380 shares of the company’s stock, valued at $896,463.40. The trade was a 53.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 245,235 shares of company stock valued at $10,490,600 in the last 90 days. Insiders own 2.82% of the company’s stock.

Exelixis Stock Up 0.1%

NASDAQ:EXEL opened at $46.64 on Thursday. The firm’s fifty day simple moving average is $41.53 and its 200-day simple moving average is $40.88. The stock has a market cap of $12.50 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 0.84 and a beta of 0.40. Exelixis, Inc. has a fifty-two week low of $31.90 and a fifty-two week high of $49.62.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.68 by $0.10. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The firm had revenue of $597.76 million during the quarter, compared to analysts’ expectations of $590.04 million. During the same quarter last year, the business earned $0.47 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current year.

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.