NewEdge Wealth LLC Acquires 212,553 Shares of Exelixis, Inc. (NASDAQ:EXEL)

NewEdge Wealth LLC boosted its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 45.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 681,104 shares of the biotechnology company’s stock after buying an additional 212,553 shares during the period. NewEdge Wealth LLC’s holdings in Exelixis were worth $16,340,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new position in Exelixis in the 4th quarter valued at approximately $26,000. Denali Advisors LLC raised its holdings in Exelixis by 7,995.2% in the 3rd quarter. Denali Advisors LLC now owns 1,700 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 1,679 shares during the last quarter. Covestor Ltd raised its holdings in Exelixis by 245.6% in the 1st quarter. Covestor Ltd now owns 1,676 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 1,191 shares during the last quarter. Fifth Third Bancorp raised its holdings in Exelixis by 44.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,970 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 604 shares during the last quarter. Finally, Ronald Blue Trust Inc. raised its holdings in Exelixis by 87.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,552 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 1,189 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Exelixis Price Performance

Shares of NASDAQ:EXEL traded up $0.16 during mid-day trading on Friday, hitting $22.81. The company had a trading volume of 1,943,077 shares, compared to its average volume of 2,301,867. The company has a market capitalization of $6.92 billion, a PE ratio of 35.64, a price-to-earnings-growth ratio of 0.63 and a beta of 0.54. The firm has a fifty day moving average price of $22.30 and a 200 day moving average price of $22.11. Exelixis, Inc. has a one year low of $18.08 and a one year high of $24.34.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $479.65 million during the quarter, compared to analyst estimates of $481.23 million. Exelixis had a net margin of 11.35% and a return on equity of 8.57%. Research analysts expect that Exelixis, Inc. will post 1.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EXEL. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price objective on shares of Exelixis in a report on Wednesday. Stifel Nicolaus raised their price target on shares of Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, February 2nd. BTIG Research assumed coverage on shares of Exelixis in a report on Tuesday, December 19th. They set a “buy” rating and a $27.00 price target for the company. Barclays lowered shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a report on Thursday. Finally, William Blair restated an “outperform” rating on shares of Exelixis in a report on Friday, January 26th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $26.29.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total transaction of $461,112.05. Following the completion of the sale, the director now owns 35,703 shares in the company, valued at approximately $857,229.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of Exelixis stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the transaction, the executive vice president now directly owns 384,866 shares of the company’s stock, valued at approximately $8,255,375.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan M. Garber sold 19,205 shares of Exelixis stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total transaction of $461,112.05. Following the transaction, the director now directly owns 35,703 shares in the company, valued at $857,229.03. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

Exelixis Company Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.