Bull Harbor Capital LLC Purchases Shares of 21,258 Exelixis, Inc. $EXEL

Bull Harbor Capital LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,258 shares of the biotechnology company’s stock, valued at approximately $912,000.

A number of other hedge funds have also recently made changes to their positions in the business. Motiv8 Investments LLC bought a new stake in Exelixis in the fourth quarter worth $26,000. Cassaday & Co Wealth Management LLC purchased a new stake in Exelixis during the first quarter valued at about $27,000. Acumen Wealth Advisors LLC bought a new position in shares of Exelixis during the fourth quarter valued at about $29,000. Activest Wealth Management bought a new position in shares of Exelixis during the fourth quarter valued at about $32,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Exelixis by 1,380.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock worth $34,000 after buying an additional 773 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Exelixis news, CFO Christopher J. Senner sold 34,901 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total value of $1,745,050.00. Following the sale, the chief financial officer directly owned 952,317 shares of the company’s stock, valued at approximately $47,615,850. The trade was a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jack L. Wyszomierski sold 3,925 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $50.55, for a total transaction of $198,408.75. Following the sale, the director owned 284,384 shares of the company’s stock, valued at approximately $14,375,611.20. This 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 219,170 shares of company stock valued at $10,620,641. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on EXEL shares. Truist Financial boosted their target price on Exelixis from $54.00 to $56.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. UBS Group reaffirmed a “buy” rating on shares of Exelixis in a research note on Thursday, July 2nd. Citigroup reiterated a “market outperform” rating on shares of Exelixis in a report on Wednesday, July 22nd. Weiss Ratings cut shares of Exelixis from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Finally, Morgan Stanley raised their price target on shares of Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $49.29.

Exelixis Stock Up 1.2%

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 stock has a market cap of $14.07 billion, a PE ratio of 18.59, a PEG ratio of 1.60 and a beta of 0.42. The business has a 50 day moving average of $53.67 and a 200-day moving average of $47.54.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. The business had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. Equities 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.