National Wealth Management Group LLC Buys New Stake in Exelixis, Inc. $EXEL

National Wealth Management Group LLC bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 9,902 shares of the biotechnology company’s stock, valued at approximately $578,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Exelixis during the second quarter worth $1,581,991,000. Dimensional Fund Advisors LP increased its holdings in Exelixis by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock valued at $184,391,000 after buying an additional 39,920 shares in the last quarter. Assetmark Inc. raised its position in shares of Exelixis by 1.7% in the first quarter. Assetmark Inc. now owns 3,388,920 shares of the biotechnology company’s stock worth $145,351,000 after acquiring an additional 58,149 shares during the period. First Trust Advisors LP raised its position in shares of Exelixis by 62.0% in the first quarter. First Trust Advisors LP now owns 2,534,992 shares of the biotechnology company’s stock worth $108,726,000 after acquiring an additional 970,144 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Exelixis by 30.7% in the second quarter. Bank of America Corp DE now owns 2,149,397 shares of the biotechnology company’s stock worth $116,949,000 after acquiring an additional 504,660 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Exelixis

In related news, Director Mary Beckerle sold 9,812 shares of the firm’s stock in a transaction dated 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 directly owned 16,079 shares of the company’s stock, valued at approximately $862,799.14. This trade represents a 37.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EXEL has been the topic of several recent analyst reports. UBS Group set a $55.00 target price on shares of Exelixis in a research note on Monday, August 3rd. Royal Bank Of Canada lifted their price target on Exelixis from $45.00 to $51.00 and gave the company a “sector perform” rating in a research note on Friday, October 9th. Zacks Research raised Exelixis from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st. Citigroup reiterated a “market outperform” rating on shares of Exelixis in a research report on Monday, October 19th. Finally, Morgan Stanley raised their price objective on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $51.50.

Exelixis Stock Performance

NASDAQ:EXEL opened at $65.11 on Tuesday. The company has a fifty day moving average of $58.31 and a two-hundred day moving average of $50.48. The stock has a market capitalization of $16.13 billion, a PE ratio of 20.47, a P/E/G ratio of 1.81 and a beta of 0.47. Exelixis, Inc. has a fifty-two week low of $36.00 and a fifty-two week high of $65.59.

Exelixis (NASDAQ:EXEL) last announced its 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 business had revenue of $628.69 million for 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 company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 earnings per share. Research analysts forecast that Exelixis, Inc. will post 3.19 earnings per share for the current year.

Exelixis Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company’s research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis’ lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.