Havemeyer Place LP Makes New Investment in Exelixis, Inc. $EXEL

Havemeyer Place LP bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 15,550 shares of the biotechnology company’s stock, valued at approximately $682,000.

Several other large investors have also modified their holdings of EXEL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Exelixis by 81.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock valued at $1,592,000 after buying an additional 19,407 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Exelixis by 4.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock worth $54,153,000 after acquiring an additional 68,133 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Exelixis by 83.4% in the 1st quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock valued at $1,420,000 after acquiring an additional 17,483 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Exelixis by 134.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 944 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its position in shares of Exelixis by 23.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock valued at $633,000 after acquiring an additional 2,764 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Transactions at Exelixis

In other Exelixis news, Director George Poste sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $45.71, for a total value of $2,742,600.00. Following the sale, the director owned 118,832 shares in the company, valued at approximately $5,431,810.72. This trade represents a 33.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dana Aftab sold 43,451 shares of Exelixis stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total value of $2,187,757.85. Following the sale, the executive vice president directly owned 594,741 shares in the company, valued at approximately $29,945,209.35. This trade represents a 6.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 219,170 shares of company stock worth $10,620,641 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

EXEL has been the subject of a number of research reports. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Wells Fargo & Company increased their target price on shares of Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. HC Wainwright raised their price target on shares of Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Truist Financial upgraded shares of Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. Finally, Zacks Research cut shares of Exelixis from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $47.35.

Exelixis Stock Performance

Shares of EXEL opened at $51.74 on Tuesday. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $52.98. The company has a market cap of $13.00 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.52 and a beta of 0.41. The firm has a fifty day moving average of $47.15 and a 200-day moving average of $44.60.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. The business had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS. Analysts predict that Exelixis, Inc. will post 3.16 EPS for the current year.

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.