Janney Montgomery Scott LLC Buys 11,466 Shares of Exelixis, Inc. $EXEL

Janney Montgomery Scott LLC raised its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 76.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,558 shares of the biotechnology company’s stock after buying an additional 11,466 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Exelixis were worth $1,139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in Exelixis by 62.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 187,154 shares of the biotechnology company’s stock valued at $8,224,000 after acquiring an additional 71,987 shares in the last quarter. Stephens Investment Management Group LLC boosted its stake in Exelixis by 1.1% during the fourth 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 during the period. Private Client Services LLC purchased a new position in Exelixis during the fourth quarter worth about $1,992,000. Nisa Investment Advisors LLC increased its stake in Exelixis by 692.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 140,446 shares of the biotechnology company’s stock worth $6,156,000 after acquiring an additional 122,720 shares during the last quarter. Finally, Strategic Investment Advisors MI raised its holdings in shares of Exelixis by 486.6% in the 3rd quarter. Strategic Investment Advisors MI now owns 33,343 shares of the biotechnology company’s stock valued at $1,377,000 after acquiring an additional 27,659 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EXEL has been the subject of several recent analyst reports. Weiss Ratings raised Exelixis from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday. UBS Group reiterated a “buy” rating on shares of Exelixis in a research report on Thursday, July 2nd. HC Wainwright reissued a “buy” rating and issued a $56.00 price target on shares of Exelixis in a research note on Thursday, July 2nd. Wells Fargo & Company raised their price objective on shares of Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Exelixis has a consensus rating of “Hold” and a consensus target price of $47.93.

Exelixis Stock Performance

EXEL traded down $0.60 during midday trading on Friday, hitting $56.50. The stock had a trading volume of 3,219,170 shares, compared to its average volume of 2,610,677. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57. The business has a fifty day moving average of $51.70 and a 200 day moving average of $46.46. The company has a market cap of $14.20 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 1.63 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. The company had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. On average, equities research analysts anticipate that Exelixis, Inc. will post 3.16 earnings per share for the current year.

Insider Buying and Selling

In other Exelixis news, Director Jack L. Wyszomierski sold 3,925 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $50.55, for a total value of $198,408.75. Following the completion of the sale, the director owned 284,384 shares in the company, valued at approximately $14,375,611.20. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the director directly owned 16,079 shares of the company’s stock, valued at approximately $806,201.06. This trade 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. Insiders have sold a total of 219,170 shares of company stock worth $10,620,641 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

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.