Brookstone Capital Management Buys Shares of 16,016 Exelixis, Inc. $EXEL

Brookstone Capital Management purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,016 shares of the biotechnology company’s stock, valued at approximately $661,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Byrne Asset Management LLC lifted its holdings in Exelixis by 129.0% in the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 400 shares during the period. Luminist Capital LLC grew its position in shares of Exelixis by 2,740.0% in the second quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 685 shares during the period. Family Legacy Financial Solutions LLC acquired a new stake in Exelixis in the 2nd quarter worth about $33,000. Steph & Co. purchased a new stake in shares of Exelixis during the second quarter worth approximately $44,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of Exelixis by 940.4% during the second quarter. Hantz Financial Services Inc. now owns 1,134 shares of the biotechnology company’s stock worth $50,000 after buying an additional 1,025 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on EXEL. Royal Bank Of Canada restated a “sector perform” rating and set a $45.00 price objective on shares of Exelixis in a research report on Tuesday, October 21st. Cowen reiterated a “buy” rating on shares of Exelixis in a report on Wednesday, November 5th. HC Wainwright increased their target price on shares of Exelixis from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. The Goldman Sachs Group began coverage on Exelixis in a research report on Wednesday, September 17th. They issued a “buy” rating and a $47.00 price target on the stock. Finally, UBS Group lifted their price objective on shares of Exelixis from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.74.

Exelixis Trading Down 1.9%

Shares of Exelixis stock opened at $45.37 on Tuesday. The company has a 50-day moving average of $42.04 and a two-hundred day moving average of $40.96. The stock has a market cap of $12.16 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 0.83 and a beta of 0.40. Exelixis, Inc. has a 12-month low of $31.90 and a 12-month high of $49.62.

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

Insider Transactions at Exelixis

In other Exelixis news, Director Mary C. Beckerle sold 24,622 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $41.93, for a total transaction of $1,032,400.46. Following the completion of the sale, the director directly owned 21,380 shares in the company, valued at $896,463.40. The trade was a 53.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dana Aftab sold 48,383 shares of the firm’s stock in a transaction dated 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 owned 664,778 shares of the company’s stock, valued at $28,253,065. This represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 245,235 shares of company stock worth $10,490,600 in the last three months. 2.85% of the stock is currently owned by 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.