Jupiter Topco LLC Purchases Shares of 1,236,393 Exelixis, Inc. $EXEL

Jupiter Topco LLC 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 1,236,393 shares of the biotechnology company’s stock, valued at approximately $67,299,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of EXEL. Motiv8 Investments LLC bought a new position in shares of Exelixis during the 4th quarter worth approximately $26,000. Cassaday & Co Wealth Management LLC acquired a new stake in Exelixis in the first quarter valued at approximately $27,000. Acumen Wealth Advisors LLC acquired a new stake in Exelixis in the fourth quarter valued at approximately $29,000. Western Wealth Management LLC purchased a new position in Exelixis in the first quarter worth $29,000. Finally, Activest Wealth Management purchased a new position in Exelixis in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EXEL. Truist Financial reduced their price target on Exelixis from $56.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, August 6th. Wall Street Zen cut Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Barclays boosted their target price on Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Citigroup reaffirmed a “market outperform” rating on shares of Exelixis in a research report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $50.07.

Insider Buying and Selling

In other Exelixis news, Director Mary C. Beckerle sold 9,812 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director directly owned 16,079 shares of the company’s stock, valued at approximately $862,799.14. This trade represents a 37.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack L. Wyszomierski sold 3,925 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $50.55, for a total transaction of $198,408.75. Following the completion of the sale, the director directly owned 284,384 shares in the company, valued at $14,375,611.20. This trade represents a 1.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 23,549 shares of company stock worth $1,216,894. 2.60% of the stock is owned by company insiders.

Exelixis Price Performance

Shares of EXEL stock opened at $55.26 on Friday. The business has a fifty day moving average of $54.52 and a 200 day moving average of $48.96. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57. The firm has a market capitalization of $13.69 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 1.67 and a beta of 0.44.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The business had revenue of $628.69 million for the quarter, compared to analyst estimates of $636.40 million. During the same period in the prior year, the company earned $0.75 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts expect that Exelixis, Inc. will post 3.18 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.