Gateway Wealth Partners LLC Makes New Investment in Exelixis, Inc. $EXEL

Gateway Wealth Partners LLC acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 15,223 shares of the biotechnology company’s stock, valued at approximately $653,000.

Other institutional investors have also modified their holdings of the company. Motiv8 Investments LLC acquired a new stake in Exelixis in the 4th quarter valued at $26,000. Cassaday & Co Wealth Management LLC acquired a new stake in Exelixis in the first quarter valued at $27,000. Acumen Wealth Advisors LLC acquired a new stake in Exelixis in the fourth quarter valued at $29,000. Activest Wealth Management bought a new position in shares of Exelixis in the 4th quarter valued at about $32,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of 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 acquiring an additional 773 shares during the period. Institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group reaffirmed a “buy” rating on shares of Exelixis in a report on Thursday, July 2nd. Barclays lifted their price target on Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Truist Financial boosted their price target on Exelixis from $54.00 to $56.00 and gave the stock a “hold” rating in a research report on Tuesday, July 7th. 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. Finally, Morgan Stanley upped their price objective on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Exelixis has a consensus rating of “Hold” and an average price target of $49.29.

Insider Activity at Exelixis

In other Exelixis news, Director Sue Gail Eckhardt sold 9,812 shares of Exelixis stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.14, for a total value of $491,973.68. Following the transaction, the director owned 16,079 shares in the company, valued at $806,201.06. The trade was a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Dana Aftab sold 43,451 shares of the company’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 transaction, the executive vice president owned 594,741 shares of the company’s stock, valued at approximately $29,945,209.35. This represents a 6.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 219,170 shares of company stock worth $10,620,641 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Exelixis Stock Performance

NASDAQ:EXEL opened at $55.97 on Friday. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $57.57. The firm’s 50-day simple moving average is $53.67 and its 200 day simple moving average is $47.54. The firm has a market cap of $14.07 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 1.60 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.12. The business had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 earnings per share. Sell-side analysts anticipate that Exelixis, Inc. will post 3.15 EPS 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.