Whalen Wealth Management Inc. Makes New Investment in Exelixis, Inc. $EXEL

Whalen Wealth Management Inc. purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,226 shares of the biotechnology company’s stock, valued at approximately $556,000.

Other large investors have also recently modified their holdings of the company. Motiv8 Investments LLC acquired a new stake in Exelixis in the fourth quarter valued at approximately $26,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Exelixis during the 1st quarter valued at $27,000. Western Wealth Management LLC purchased a new stake in shares of Exelixis during the 1st quarter valued at $29,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Exelixis in the 4th quarter worth $29,000. Finally, Activest Wealth Management purchased a new position in Exelixis during the 4th quarter worth $32,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Morgan Stanley raised their price target on Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. UBS Group set a $55.00 price objective on shares of Exelixis in a research report on Monday, August 3rd. Truist Financial lowered their target price on shares of Exelixis from $56.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, August 6th. Royal Bank Of Canada boosted their target price on shares of Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. Finally, Barclays upped their price target on shares of Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $50.07.

Exelixis Stock Performance

Shares of EXEL stock opened at $54.55 on Tuesday. The stock’s 50-day simple moving average is $54.29 and its 200-day simple moving average is $48.69. The firm has a market capitalization of $13.52 billion, a PE ratio of 17.15, a P/E/G ratio of 1.61 and a beta of 0.44. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $57.57.

Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $628.69 million during the quarter, compared to the consensus estimate of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. Sell-side analysts forecast that Exelixis, Inc. will post 3.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Sue Gail Eckhardt sold 9,812 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $50.14, for a total value of $491,973.68. Following the sale, the director owned 16,079 shares in the company, valued at $806,201.06. This represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary C. Beckerle sold 9,812 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the sale, the director owned 16,079 shares in the company, valued at $862,799.14. The trade was a 37.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 23,549 shares of company stock valued at $1,216,894. 2.60% of the stock is owned by 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.