Center For Asset Management LLC Purchases New Shares in Exelixis, Inc. $EXEL

Center For Asset Management LLC acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,371 shares of the biotechnology company’s stock, valued at approximately $511,000.

A number of other hedge funds have also recently bought and sold shares of the company. Richardson Financial Services Inc. raised its holdings in shares of Exelixis by 95.1% in the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. Cim LLC boosted its holdings in Exelixis by 0.9% during the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock worth $1,462,000 after purchasing an additional 305 shares during the last quarter. Evergreen Capital Management LLC grew its position in Exelixis by 6.4% in the 3rd quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company’s stock worth $225,000 after purchasing an additional 329 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Exelixis by 5.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,919 shares of the biotechnology company’s stock worth $327,000 after purchasing an additional 384 shares in the last quarter. Finally, North Star Asset Management Inc. increased its stake in Exelixis by 0.7% in the 3rd quarter. North Star Asset Management Inc. now owns 57,550 shares of the biotechnology company’s stock valued at $2,377,000 after buying an additional 400 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Up 1.9%

Shares of EXEL stock opened at $41.83 on Wednesday. The firm has a market cap of $10.86 billion, a P/E ratio of 15.10, a PEG ratio of 0.92 and a beta of 0.41. The company has a 50 day moving average of $43.25 and a 200-day moving average of $41.76. Exelixis, Inc. has a 12-month low of $32.38 and a 12-month high of $49.62.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.74 by $0.20. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The business had revenue of $598.66 million for the quarter, compared to the consensus estimate of $609.17 million. During the same quarter in the prior year, the business earned $0.55 earnings per share. Exelixis’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities analysts expect that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Buying and Selling at Exelixis

In other news, EVP Patrick J. Haley sold 67,814 shares of Exelixis stock in a transaction dated Tuesday, February 17th. The shares were 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 owned 381,908 shares in the company, valued at $16,620,636.16. This trade represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dana Aftab sold 47,918 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the completion of the transaction, the executive vice president directly owned 616,106 shares of the company’s stock, valued at approximately $27,416,717. This trade represents a 7.22% 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 sold 362,849 shares of company stock valued at $15,917,463. Insiders own 2.85% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on EXEL. Barclays lifted their target price on shares of Exelixis from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada decreased their price target on Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Wells Fargo & Company lifted their price target on Exelixis from $30.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 11th. Morgan Stanley boosted their price objective on Exelixis from $48.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. Finally, Truist Financial set a $51.00 price objective on Exelixis in a research note on Wednesday, January 14th. Ten 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.94.

Exelixis Company 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.