Pursue Wealth Partners LLC Takes Position in Exelixis, Inc. $EXEL

Pursue Wealth Partners LLC acquired a new position in Exelixis, Inc. (NASDAQ:EXEL) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 10,622 shares of the biotechnology company’s stock, valued at approximately $578,000.

Several other institutional investors have also recently made changes to their positions in the business. Arkadios Wealth Advisors bought a new position in Exelixis in the 1st quarter worth approximately $476,000. Stephens Investment Management Group LLC grew its holdings in 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 buying an additional 28,265 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Exelixis by 79.5% during 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 buying an additional 495,247 shares during the last quarter. Annex Advisory Services LLC bought a new stake in shares of Exelixis during the second quarter valued at approximately $1,410,000. Finally, Cibc World Market Inc. lifted its holdings in shares of Exelixis by 462.3% in the fourth quarter. Cibc World Market Inc. now owns 38,904 shares of the biotechnology company’s stock worth $1,705,000 after buying an additional 31,985 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Dana Aftab sold 43,451 shares of Exelixis stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total value of $2,187,757.85. Following the completion of the transaction, the executive vice president owned 594,741 shares in the company, valued at approximately $29,945,209.35. The trade was a 6.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary C. Beckerle sold 9,812 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 16,079 shares in the company, valued at approximately $862,799.14. This represents a 37.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 99,110 shares of company stock worth $5,004,051. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded shares of Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Zacks Research downgraded shares of Exelixis from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. Citizens Jmp increased their price objective on shares of Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a report on Wednesday, June 24th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Exelixis in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Exelixis has an average rating of “Hold” and a consensus target price of $49.79.

Exelixis Stock Up 2.1%

Shares of NASDAQ:EXEL opened at $52.32 on Tuesday. The firm has a fifty day simple moving average of $54.20 and a two-hundred day simple moving average of $48.28. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $57.57. The stock has a market capitalization of $12.96 billion, a P/E ratio of 16.45, a PEG ratio of 1.53 and a beta of 0.44.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $628.69 million for the quarter, compared to analysts’ expectations of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. On average, 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.