Norden Group LLC Buys Shares of 175,183 Exelixis, Inc. $EXEL

Norden Group LLC purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 175,183 shares of the biotechnology company’s stock, valued at approximately $7,235,000. Exelixis makes up about 0.7% of Norden Group LLC’s investment portfolio, making the stock its 25th largest holding.

Several other large investors have also modified their holdings of the business. Truist Financial Corp raised its position in shares of Exelixis by 1.1% during the 2nd quarter. Truist Financial Corp now owns 22,292 shares of the biotechnology company’s stock worth $983,000 after purchasing an additional 250 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in Exelixis by 0.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock valued at $4,521,000 after buying an additional 274 shares during the last quarter. Plato Investment Management Ltd increased its position in Exelixis by 6.5% during the second quarter. Plato Investment Management Ltd now owns 6,174 shares of the biotechnology company’s stock worth $271,000 after buying an additional 377 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Exelixis by 6.3% in the second quarter. Stratos Wealth Partners LTD. now owns 6,726 shares of the biotechnology company’s stock worth $296,000 after acquiring an additional 399 shares during the last quarter. Finally, Byrne Asset Management LLC lifted its position in shares of Exelixis by 129.0% in the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 400 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Stock Up 0.1%

NASDAQ:EXEL opened at $46.64 on Thursday. The company has a market cap of $12.50 billion, a P/E ratio of 19.68, a P/E/G ratio of 0.84 and a beta of 0.40. Exelixis, Inc. has a fifty-two week low of $31.90 and a fifty-two week high of $49.62. The firm’s 50 day moving average is $41.53 and its two-hundred day moving average is $40.88.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.10. The company had revenue of $597.76 million during the quarter, compared to analysts’ expectations of $590.04 million. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 EPS. Research analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EXEL shares. Morgan Stanley lifted their price objective on Exelixis from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Barclays lifted their price target on shares of Exelixis from $40.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Royal Bank Of Canada reissued a “sector perform” rating and set a $45.00 price objective on shares of Exelixis in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.74.

Insider Transactions at Exelixis

In other news, Director Stelios Papadopoulos sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $43.55, for a total value of $4,355,000.00. Following the transaction, the director directly owned 1,189,228 shares in the company, valued at $51,790,879.40. This trade represents a 7.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary C. Beckerle sold 24,622 shares of Exelixis stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $41.93, for a total value of $1,032,400.46. Following the completion of the transaction, the director directly owned 21,380 shares in the company, valued at $896,463.40. This represents a 53.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 245,235 shares of company stock valued at $10,490,600. Insiders own 2.82% of the company’s stock.

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.