Keating Financial Advisory Services Inc. Acquires New Holdings in Exelixis, Inc. $EXEL

Keating Financial Advisory Services Inc. acquired a new position in Exelixis, Inc. (NASDAQ:EXEL) in the second quarter, Holdings Channel reports. The fund acquired 10,863 shares of the biotechnology company’s stock, valued at approximately $591,000.

A number of other hedge funds also recently bought and sold shares of the stock. Motiv8 Investments LLC bought a new position in shares of Exelixis in the 4th quarter worth $26,000. Cassaday & Co Wealth Management LLC bought a new stake in Exelixis during the first quarter valued at about $27,000. Acumen Wealth Advisors LLC purchased a new position in Exelixis in the fourth quarter valued at about $29,000. Western Wealth Management LLC purchased a new position in Exelixis in the first quarter valued at about $29,000. Finally, Activest Wealth Management bought a new position in Exelixis in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Stock Performance

Shares of Exelixis stock opened at $54.08 on Friday. The firm has a 50-day simple moving average of $54.26 and a two-hundred day simple moving average of $48.56. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $57.57. The company has a market cap of $13.40 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The firm had revenue of $628.69 million for the quarter, compared to analysts’ expectations of $636.40 million. During the same period last year, the firm earned $0.75 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts forecast that Exelixis, Inc. will post 3.18 EPS for the current year.

Wall Street Analysts Forecast Growth

EXEL has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Stifel Nicolaus boosted their price objective on shares of Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. Wells Fargo & Company increased their target price on shares of Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, July 13th. UBS Group set a $55.00 target price on Exelixis in a report on Monday, August 3rd. Finally, TD Cowen upped their price objective on Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.07.

Insiders Place Their Bets

In other news, Director Mary C. Beckerle sold 9,812 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director directly owned 16,079 shares of the company’s stock, valued at $862,799.14. This represents a 37.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sue Gail Eckhardt sold 9,812 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $50.14, for a total value of $491,973.68. Following the transaction, the director owned 16,079 shares in the company, valued at $806,201.06. This trade represents a 37.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 67,000 shares of company stock valued at $3,404,652 in the last three months. 2.60% of the stock is currently owned by company insiders.

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.