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

MinichMacGregor Wealth Management LLC bought a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 110,642 shares of the biotechnology company’s stock, valued at approximately $6,463,000.

A number of other large investors have also made changes to their positions in EXEL. Signal Advisors Wealth LLC purchased a new stake in Exelixis in the 3rd quarter valued at about $293,000. Ifrah Financial Services Inc. acquired a new position in shares of Exelixis during the 3rd quarter valued at $1,148,000. B. Riley Wealth Advisors Inc. purchased a new stake in Exelixis during the 3rd quarter worth $329,000. Wedmont Private Capital lifted its stake in shares of Exelixis by 7.2% during the third quarter. Wedmont Private Capital now owns 8,940 shares of the biotechnology company’s stock worth $528,000 after purchasing an additional 598 shares in the last quarter. Finally, Monument Capital Management boosted its position in shares of Exelixis by 1.3% in the third quarter. Monument Capital Management now owns 82,041 shares of the biotechnology company’s stock worth $4,792,000 after buying an additional 1,052 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Price Performance

Exelixis stock traded up $1.01 during trading hours on Wednesday, hitting $60.52. The company had a trading volume of 838,198 shares, compared to its average volume of 2,597,602. The firm’s fifty day moving average is $56.43 and its 200-day moving average is $52.53. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $61.66. The firm has a market capitalization of $15.00 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.68 and a beta of 0.47.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS 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 firm had revenue of $628.69 million for the quarter, compared to the consensus estimate of $636.40 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Analysts anticipate that Exelixis, Inc. will post 3.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Mary Beckerle sold 9,812 shares of Exelixis stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $53.66, for a total value of $526,511.92. Following the transaction, the director directly owned 16,079 shares in the company, valued at approximately $862,799.14. The trade was a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EXEL shares. Morgan Stanley upped their target price on shares of Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Leerink Partners downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price target on the stock. in a research report on Thursday, August 6th. Barclays increased their price target on Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Citizens Jmp increased their price objective on shares of Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a report on Wednesday, June 24th. Finally, Royal Bank Of Canada lifted their price target on Exelixis from $45.00 to $51.00 and gave the company a “sector perform” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.79.

About Exelixis

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer. The company’s research and development activities are centered primarily on targeted therapies and other treatments for solid tumors.

Exelixis’ principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer. The company also markets COMETRIQ, a cabozantinib formulation approved in the United States for progressive or metastatic medullary thyroid cancer.

Exelixis was founded in 1994 and is headquartered in Alameda, California.