Corient Private Wealth LLC Has $5.19 Million Stock Position in Exelixis, Inc. $EXEL

Corient Private Wealth LLC boosted its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 71.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,830 shares of the biotechnology company’s stock after buying an additional 49,123 shares during the period. Corient Private Wealth LLC’s holdings in Exelixis were worth $5,193,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of EXEL. Byrne Asset Management LLC lifted its holdings in Exelixis by 129.0% during the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 400 shares in the last quarter. Luminist Capital LLC raised its holdings in Exelixis by 2,740.0% during the second quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 685 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new position in shares of Exelixis in the second quarter valued at $33,000. Steph & Co. bought a new position in shares of Exelixis in the 2nd quarter valued at about $44,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Exelixis by 940.4% in the second quarter. Hantz Financial Services Inc. now owns 1,134 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 1,025 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Exelixis news, Director Stelios Papadopoulos sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $43.55, for a total value of $4,355,000.00. Following the transaction, the director directly owned 1,189,228 shares in the company, valued at $51,790,879.40. The trade was a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Haley sold 28,043 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $42.58, for a total transaction of $1,194,070.94. Following the transaction, the executive vice president directly owned 374,029 shares of the company’s stock, valued at $15,926,154.82. This represents a 6.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 245,235 shares of company stock valued at $10,490,600. 2.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EXEL has been the topic of several research reports. Guggenheim downgraded Exelixis from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. The Goldman Sachs Group initiated coverage on Exelixis in a research note on Wednesday, September 17th. They issued a “buy” rating and a $47.00 price target for the company. Citigroup reissued a “market outperform” rating on shares of Exelixis in a report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a research note on Wednesday, October 8th. Finally, Morgan Stanley boosted their target price on shares of Exelixis from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Exelixis presently has an average rating of “Moderate Buy” and an average target price of $45.74.

Exelixis Stock Up 4.1%

EXEL stock opened at $44.30 on Friday. The stock’s 50 day moving average is $41.10 and its 200-day moving average is $40.80. The firm has a market capitalization of $11.88 billion, a PE ratio of 18.69, a P/E/G ratio of 0.80 and a beta of 0.40. Exelixis, Inc. has a twelve month low of $31.90 and a twelve month high of $49.62.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.10. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The business had revenue of $597.76 million for the quarter, compared to analysts’ expectations of $590.04 million. During the same period in the previous year, the company earned $0.47 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

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.