L2 Asset Management LLC Buys Shares of 125,702 Exelixis, Inc. $EXEL

L2 Asset Management LLC bought a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 125,702 shares of the biotechnology company’s stock, valued at approximately $6,839,000.

Several other hedge funds have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Exelixis by 81.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock worth $1,592,000 after buying an additional 19,407 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Exelixis by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock valued at $54,153,000 after acquiring an additional 68,133 shares during the period. Focus Partners Wealth grew its position in shares of Exelixis by 83.4% during the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock worth $1,420,000 after acquiring an additional 17,483 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Exelixis by 134.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 944 shares during the period. Finally, Sivia Capital Partners LLC lifted its position in Exelixis by 23.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock valued at $633,000 after purchasing an additional 2,764 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on EXEL. Leerink Partners lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 target price for the company. in a research note on Thursday, August 6th. Barclays lifted their price target on Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Truist Financial reduced their price objective on Exelixis from $56.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, August 6th. TD Cowen increased their price objective on Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, HC Wainwright restated a “buy” rating and issued a $56.00 target price on shares of Exelixis in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.07.

Insider Buying and Selling

In other Exelixis news, Director Jack L. Wyszomierski sold 3,925 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $50.55, for a total transaction of $198,408.75. Following the completion of the transaction, the director directly owned 284,384 shares of the company’s stock, valued at approximately $14,375,611.20. This trade represents a 1.36% decrease in their position. The sale 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 Exelixis 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 transaction, the director owned 16,079 shares in the company, valued at approximately $862,799.14. This trade 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. Insiders have sold a total of 23,549 shares of company stock valued at $1,216,894 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Exelixis Trading Up 0.9%

Exelixis stock opened at $54.55 on Tuesday. 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 $13.52 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.61 and a beta of 0.44. The company’s 50-day moving average price is $54.29 and its two-hundred day moving average price is $48.69.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $628.69 million during the quarter, compared to analyst estimates of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. Research analysts expect that Exelixis, Inc. will post 3.18 earnings per share for the current fiscal 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.