CreativeOne Wealth LLC Raises Position in Exelixis, Inc. $EXEL

CreativeOne Wealth LLC lifted its position in Exelixis, Inc. (NASDAQ:EXEL) by 135.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,102 shares of the biotechnology company’s stock after buying an additional 18,495 shares during the period. CreativeOne Wealth LLC’s holdings in Exelixis were worth $1,326,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EXEL. Grantham Mayo Van Otterloo & Co. LLC bought a new position in Exelixis in the 3rd quarter valued at approximately $489,000. Blair William & Co. IL increased its holdings in shares of Exelixis by 0.6% in the 3rd quarter. Blair William & Co. IL now owns 276,126 shares of the biotechnology company’s stock worth $11,404,000 after purchasing an additional 1,546 shares in the last quarter. Neo Ivy Capital Management raised its stake in shares of Exelixis by 12.8% in the third quarter. Neo Ivy Capital Management now owns 14,466 shares of the biotechnology company’s stock worth $597,000 after purchasing an additional 1,636 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Exelixis by 9.1% in the third quarter. Neuberger Berman Group LLC now owns 34,264 shares of the biotechnology company’s stock worth $1,415,000 after purchasing an additional 2,858 shares during the last quarter. Finally, Teton Advisors LLC bought a new position in shares of Exelixis during the third quarter valued at $2,065,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Stock Down 2.5%

Exelixis stock opened at $41.29 on Wednesday. Exelixis, Inc. has a 52-week low of $32.38 and a 52-week high of $49.62. The company has a market cap of $10.72 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.95 and a beta of 0.41. The business has a 50-day simple moving average of $43.45 and a two-hundred day simple moving average of $41.64.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. The company had revenue of $598.66 million for the quarter, compared to the consensus estimate of $609.17 million. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 earnings per share. Research analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bob Oliver sold 30,250 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $43.81, for a total value of $1,325,252.50. Following the completion of the sale, the director directly owned 21,120 shares in the company, valued at $925,267.20. This represents a 58.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Patrick J. Haley sold 67,814 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $43.52, for a total value of $2,951,265.28. Following the completion of the transaction, the executive vice president directly owned 381,908 shares in the company, valued at approximately $16,620,636.16. This represents a 15.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 362,849 shares of company stock valued at $15,917,463. 2.85% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

EXEL has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research report on Thursday, January 22nd. UBS Group set a $41.00 target price on Exelixis in a research report on Monday, January 5th. Stifel Nicolaus raised their price target on shares of Exelixis from $43.00 to $44.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. Wall Street Zen lowered shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 2nd. Finally, Truist Financial set a $51.00 price objective on shares of Exelixis in a report on Wednesday, January 14th. Ten equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.94.

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.