Sanctuary Advisors LLC Makes New Investment in Exelixis, Inc. $EXEL

Sanctuary Advisors LLC bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 41,660 shares of the biotechnology company’s stock, valued at approximately $2,267,000.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. Wall Street Zen lowered shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Barclays boosted their target price on shares of Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. BMO Capital Markets assumed coverage on shares of Exelixis in a report on Tuesday, August 18th. They set a “market perform” rating and a $54.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $56.00 price target on shares of Exelixis in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $50.07.

Exelixis Price Performance

NASDAQ:EXEL opened at $56.72 on Wednesday. Exelixis, Inc. has a one year low of $33.76 and a one year high of $57.57. The company has a market cap of $14.05 billion, a PE ratio of 17.84, a P/E/G ratio of 1.63 and a beta of 0.44. The firm’s 50 day simple moving average is $54.38 and its 200 day simple moving average is $48.79.

Exelixis (NASDAQ:EXEL) last announced its quarterly 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 during 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 company’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. Equities research analysts expect that Exelixis, Inc. will post 3.18 EPS for the current year.

Insider Activity at Exelixis

In related news, Director Mary C. Beckerle sold 9,812 shares of the firm’s stock in a transaction 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 trade represents a 37.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack L. Wyszomierski sold 3,925 shares of Exelixis stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.55, for a total value of $198,408.75. Following the transaction, the director directly owned 284,384 shares in the company, valued at $14,375,611.20. The trade was a 1.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 23,549 shares of company stock worth $1,216,894 over the last three months. Company insiders own 2.60% of the company’s stock.

About Exelixis

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.