Vise Technologies Inc. Invests $855,000 in Exelixis, Inc. $EXEL

Vise Technologies Inc. acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,708 shares of the biotechnology company’s stock, valued at approximately $855,000.

A number of other large investors have also modified their holdings of EXEL. Arkadios Wealth Advisors acquired a new position in shares of Exelixis in the 1st quarter valued at $476,000. Stephens Investment Management Group LLC boosted its position in shares of Exelixis by 1.1% during the 4th quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company’s stock valued at $111,303,000 after acquiring an additional 28,265 shares in the last quarter. JLB & Associates Inc. acquired a new stake in shares of Exelixis during the 2nd quarter valued at about $2,658,000. Annex Advisory Services LLC bought a new stake in Exelixis in the second quarter valued at about $1,410,000. Finally, BNP Paribas Financial Markets increased its stake in Exelixis by 79.5% in the fourth quarter. BNP Paribas Financial Markets now owns 1,117,936 shares of the biotechnology company’s stock valued at $48,999,000 after acquiring an additional 495,247 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Dana Aftab sold 43,451 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the completion of the sale, the executive vice president directly owned 594,741 shares of the company’s stock, valued at $29,945,209.35. This trade represents a 6.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary C. Beckerle sold 9,812 shares of Exelixis stock in a transaction on Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the transaction, the director owned 16,079 shares of the company’s stock, valued at approximately $862,799.14. The trade was a 37.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 67,000 shares of company stock valued at $3,404,652 over the last quarter. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EXEL has been the subject of a number of analyst reports. Zacks Research cut shares of Exelixis from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Wells Fargo & Company upped their price objective on Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, July 13th. Weiss Ratings upgraded Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Barclays raised their target price on Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada boosted their price target on Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.07.

Exelixis Price Performance

Shares of EXEL stock opened at $54.08 on Monday. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57. The company has a market capitalization of $13.40 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.61 and a beta of 0.44. The firm has a 50-day moving average price of $54.26 and a 200 day moving average price of $48.60.

Exelixis (NASDAQ:EXEL) last released its quarterly 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. The firm had revenue of $628.69 million for the quarter, compared to analyst estimates of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. As a group, research analysts expect that Exelixis, Inc. will post 3.18 earnings per share for the current year.

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.