Precision Wealth Strategies LLC Acquires New Position in Exelixis, Inc. $EXEL

Precision Wealth Strategies LLC acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,476 shares of the biotechnology company’s stock, valued at approximately $578,000.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Exelixis by 48.8% in the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock valued at $598,647,000 after purchasing an additional 4,477,029 shares during the period. Norges Bank acquired a new stake in shares of Exelixis during the fourth quarter worth $106,460,000. UBS Group AG increased its holdings in Exelixis by 100.1% in the third quarter. UBS Group AG now owns 2,655,069 shares of the biotechnology company’s stock valued at $109,654,000 after purchasing an additional 1,328,087 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Exelixis by 1,821.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,188,105 shares of the biotechnology company’s stock valued at $52,075,000 after purchasing an additional 1,126,256 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Exelixis by 111.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,115,456 shares of the biotechnology company’s stock valued at $92,720,000 after buying an additional 1,113,916 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, July 13th. Truist Financial increased their price target on shares of Exelixis from $54.00 to $56.00 and gave the company a “hold” rating in a research report on Tuesday, July 7th. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Royal Bank Of Canada boosted their price objective on shares of Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $56.00 target price on shares of Exelixis in a research note on Thursday, July 2nd. Nine analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Exelixis has an average rating of “Hold” and a consensus price target of $48.80.

Insider Buying and Selling at Exelixis

In related news, CFO Christopher J. Senner sold 34,901 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the completion of the sale, the chief financial officer directly owned 952,317 shares of the company’s stock, valued at approximately $47,615,850. This represents a 3.54% decrease in their position. The transaction 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 the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the sale, the executive vice president owned 594,741 shares in the company, valued at $29,945,209.35. This trade represents a 6.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 219,170 shares of company stock worth $10,620,641 in the last quarter. Company insiders own 2.60% of the company’s stock.

Exelixis Trading Up 0.4%

NASDAQ:EXEL opened at $55.92 on Friday. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57. The stock has a market cap of $14.06 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.61 and a beta of 0.42. The stock has a 50-day moving average price of $52.64 and a two-hundred day moving average price of $46.79.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. During the same period in the prior year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Sell-side analysts forecast that Exelixis, Inc. will post 3.16 earnings per share for the current year.

About Exelixis

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.