Strategic Investment Advisors MI Buys 27,659 Shares of Exelixis, Inc. $EXEL

Strategic Investment Advisors MI lifted its stake in Exelixis, Inc. (NASDAQ:EXEL) by 486.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,343 shares of the biotechnology company’s stock after buying an additional 27,659 shares during the period. Strategic Investment Advisors MI’s holdings in Exelixis were worth $1,377,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of EXEL. Richardson Financial Services Inc. grew its position in Exelixis by 95.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 292 shares during the last quarter. Cim LLC lifted its position in Exelixis by 0.9% in the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock valued at $1,462,000 after purchasing an additional 305 shares during the last quarter. Evergreen Capital Management LLC lifted its position in Exelixis by 6.4% in the third quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company’s stock valued at $225,000 after purchasing an additional 329 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Exelixis by 5.1% during the third quarter. EverSource Wealth Advisors LLC now owns 7,919 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 384 shares during the period. Finally, North Star Asset Management Inc. grew its holdings in shares of Exelixis by 0.7% in the third quarter. North Star Asset Management Inc. now owns 57,550 shares of the biotechnology company’s stock worth $2,377,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on EXEL shares. Bank of America downgraded shares of Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 target price on the stock. in a research note on Monday, January 5th. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 14th. Morgan Stanley boosted their price objective on shares of Exelixis from $48.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. Stifel Nicolaus upped their price objective on shares of Exelixis from $43.00 to $44.00 and gave the company a “hold” rating in a research note on Wednesday, February 11th. Finally, Barclays increased their target price on shares of Exelixis from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 4th. Ten analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Exelixis currently has an average rating of “Hold” and a consensus target price of $46.94.

Insider Activity at Exelixis

In related news, Director Jack L. Wyszomierski sold 99,574 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total transaction of $4,382,251.74. Following the sale, the director owned 279,942 shares of the company’s stock, valued at $12,320,247.42. The trade was a 26.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dana Aftab sold 47,918 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the completion of the sale, the executive vice president owned 616,106 shares in the company, valued at approximately $27,416,717. This trade represents a 7.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 362,849 shares of company stock worth $15,917,463 over the last 90 days. 2.82% of the stock is currently owned by insiders.

Exelixis Stock Down 1.4%

NASDAQ EXEL opened at $41.26 on Thursday. The firm has a market capitalization of $10.72 billion, a PE ratio of 14.90, a P/E/G ratio of 0.94 and a beta of 0.41. The stock’s 50 day moving average is $43.15 and its 200 day moving average is $41.76. Exelixis, Inc. has a twelve month low of $32.38 and a twelve month high of $49.62.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.74 by $0.20. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The business had revenue of $598.66 million during the quarter, compared to analyst estimates of $609.17 million. During the same quarter last year, the firm posted $0.55 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, research analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Exelixis Company Profile

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.