Global Retirement Partners LLC Buys 14,852 Shares of Exelixis, Inc. $EXEL

Global Retirement Partners LLC grew its position in Exelixis, Inc. (NASDAQ:EXEL) by 876.2% in the third quarter, Holdings Channel reports. The fund owned 16,547 shares of the biotechnology company’s stock after acquiring an additional 14,852 shares during the quarter. Global Retirement Partners LLC’s holdings in Exelixis were worth $683,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Byrne Asset Management LLC increased its holdings in Exelixis by 129.0% in the 2nd quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 400 shares in the last quarter. Luminist Capital LLC grew its holdings in shares of 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 purchasing an additional 685 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new position in shares of Exelixis in the second quarter valued at approximately $33,000. Steph & Co. bought a new position in Exelixis in the 2nd quarter valued at approximately $44,000. Finally, Hantz Financial Services Inc. boosted its position in Exelixis by 940.4% during the 2nd 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 during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on EXEL shares. Wolfe Research initiated coverage on shares of Exelixis in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Cowen restated a “buy” rating on shares of Exelixis in a report on Wednesday, November 5th. Leerink Partners raised Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Tuesday, October 21st. The Goldman Sachs Group started 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, Oppenheimer restated a “market perform” rating and set a $36.00 price objective on shares of Exelixis in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.84.

Exelixis Price Performance

Shares of Exelixis stock opened at $44.15 on Friday. The stock’s 50-day moving average is $42.92 and its 200 day moving average is $41.12. Exelixis, Inc. has a one year low of $31.90 and a one year high of $49.62. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 0.85 and a beta of 0.40.

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

Insider Activity at Exelixis

In other Exelixis news, Director Stelios Papadopoulos sold 100,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the director directly owned 1,189,228 shares in the company, valued at approximately $51,790,879.40. This trade represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 34,187 shares of Exelixis stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $41.88, for a total transaction of $1,431,751.56. The disclosure for this sale is available in the SEC filing. Insiders sold 245,235 shares of company stock valued at $10,490,600 in the last ninety days. Insiders own 2.82% of the company’s stock.

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.