Whalen Wealth Management Inc. Purchases New Position in Exelixis, Inc. $EXEL

Whalen Wealth Management Inc. purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,226 shares of the biotechnology company’s stock, valued at approximately $556,000.

Other hedge funds have also bought and sold shares of the company. OMERS ADMINISTRATION Corp purchased a new position in shares of Exelixis during the 2nd quarter valued at approximately $1,716,000. Sanctuary Advisors LLC acquired a new position in shares of Exelixis in the 2nd quarter valued at $2,267,000. Capital Square LLC purchased a new stake in Exelixis during the second quarter worth $220,000. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Exelixis during the second quarter worth $317,000. Finally, Globeflex Capital L P acquired a new stake in Exelixis during the second quarter valued at $13,874,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Trading Up 0.9%

NASDAQ:EXEL opened at $54.55 on Tuesday. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $57.57. The stock has a 50 day moving average of $54.29 and a two-hundred day moving average of $48.69. The firm has a market cap of $13.52 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.61 and a beta of 0.44.

Exelixis (NASDAQ:EXEL) last announced 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. The business had revenue of $628.69 million during the quarter, compared to analysts’ expectations of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The business’s revenue 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. On average, research analysts forecast that Exelixis, Inc. will post 3.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on EXEL. Truist Financial cut their price objective on shares of Exelixis from $56.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, August 6th. HC Wainwright reissued a “buy” rating and set a $56.00 target price on shares of Exelixis in a research note on Thursday, July 2nd. Citigroup restated a “market outperform” rating on shares of Exelixis in a research report on Wednesday, July 22nd. Royal Bank Of Canada lifted their price target on Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. Finally, Citizens Jmp upped their target price on Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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 the business’s stock in a transaction that occurred on 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 directly owned 16,079 shares in the company, valued at approximately $806,201.06. The trade was a 37.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary C. Beckerle sold 9,812 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the transaction, the director directly owned 16,079 shares of the company’s stock, valued at approximately $862,799.14. This represents a 37.90% decrease in their ownership of the stock. 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 ninety days, insiders sold 23,549 shares of company stock worth $1,216,894. 2.60% of the stock is owned by corporate insiders.

Exelixis 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.