Whalen Wealth Management Inc. Acquires New Holdings in Exelixis, Inc. $EXEL

by · The Markets Daily

Whalen Wealth Management Inc. bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,769 shares of the biotechnology company’s stock, valued at approximately $527,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. FCG Investment Co lifted its stake in shares of Exelixis by 3.1% during the 3rd quarter. FCG Investment Co now owns 20,302 shares of the biotechnology company’s stock worth $838,000 after purchasing an additional 608 shares during the last quarter. Balefire LLC bought a new stake in shares of Exelixis in the 3rd quarter valued at about $237,000. Assenagon Asset Management S.A. grew its position in shares of Exelixis by 13.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 708,214 shares of the biotechnology company’s stock worth $29,249,000 after buying an additional 84,287 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Exelixis by 71.5% in the 2nd quarter. Corient Private Wealth LLC now owns 117,830 shares of the biotechnology company’s stock worth $5,193,000 after buying an additional 49,123 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in shares of Exelixis by 2.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 438,466 shares of the biotechnology company’s stock worth $19,325,000 after acquiring an additional 12,284 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EXEL. Wolfe Research initiated coverage on shares of Exelixis in a research note on Tuesday, November 18th. They issued a “peer perform” rating for the company. Guggenheim cut Exelixis from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. HC Wainwright boosted their target price on Exelixis from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Oppenheimer reiterated a “market perform” rating and issued a $36.00 price target on shares of Exelixis in a research note on Wednesday, November 5th. Finally, Cowen reissued a “buy” rating on shares of Exelixis in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Exelixis currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.45.

Read Our Latest Analysis on Exelixis

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Dana Aftab sold 48,383 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total value of $2,056,277.50. Following the sale, the executive vice president directly owned 664,778 shares of the company’s stock, valued at approximately $28,253,065. This represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary C. Beckerle sold 24,622 shares of Exelixis stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $41.93, for a total value of $1,032,400.46. Following the transaction, the director owned 21,380 shares of the company’s stock, valued at $896,463.40. The trade was a 53.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 245,235 shares of company stock valued at $10,490,600 over the last quarter. Insiders own 2.82% of the company’s stock.

Exelixis Stock Performance

Exelixis stock opened at $42.57 on Friday. The business’s 50-day simple moving average is $40.98 and its two-hundred day simple moving average is $40.80. The company has a market cap of $11.41 billion, a PE ratio of 17.96, a PEG ratio of 0.76 and a beta of 0.40. Exelixis, Inc. has a fifty-two week low of $31.90 and a fifty-two week high of $49.62.

Exelixis (NASDAQ:EXEL – Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.10. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.The firm had revenue of $597.76 million during the quarter, compared to analysts’ expectations of $590.04 million. During the same period last year, the business posted $0.47 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Exelixis Company Profile

(Free Report)

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.

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