Virtus Advisers LLC Invests $804,000 in Exelixis, Inc. $EXEL

Virtus Advisers LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,769 shares of the biotechnology company’s stock, valued at approximately $804,000.

Several other institutional investors also recently bought and sold shares of EXEL. Sumitomo Mitsui Trust Group Inc. raised its position in Exelixis by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company’s stock worth $2,549,000 after buying an additional 281 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in shares of Exelixis by 5.8% in the fourth quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock valued at $237,000 after acquiring an additional 298 shares in the last quarter. Cim LLC increased its stake in shares of Exelixis by 0.9% during the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock worth $1,462,000 after acquiring an additional 305 shares during the period. J.W. Cole Advisors Inc. raised its holdings in Exelixis by 6.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company’s stock worth $235,000 after purchasing an additional 329 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its position in Exelixis by 3.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 9,077 shares of the biotechnology company’s stock valued at $389,000 after purchasing an additional 333 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Trading Down 1.3%

Shares of NASDAQ EXEL opened at $53.69 on Friday. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.62 and a beta of 0.44. The company’s 50-day moving average price is $54.24 and its 200 day moving average price is $48.53. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $57.57.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on EXEL shares. TD Cowen lifted their price objective on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Truist Financial decreased their price target on Exelixis from $56.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, August 6th. HC Wainwright reiterated a “buy” rating and issued a $56.00 price objective on shares of Exelixis in a research report on Thursday, July 2nd. Morgan Stanley raised their target price on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada boosted their target price on shares of Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $50.07.

Insider Buying and Selling

In related news, Director Sue Gail Eckhardt sold 9,812 shares of Exelixis stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.14, for a total transaction of $491,973.68. Following the completion of the sale, the director owned 16,079 shares in the company, valued at approximately $806,201.06. This trade represents a 37.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary C. Beckerle sold 9,812 shares of the business’s stock in a transaction dated 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 $862,799.14. The trade was a 37.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 67,000 shares of company stock worth $3,404,652. 2.60% of the stock is currently owned by corporate insiders.

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.