Exelixis, Inc. $EXEL Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC increased its stake in Exelixis, Inc. (NASDAQ:EXEL) by 85.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,162 shares of the biotechnology company’s stock after acquiring an additional 134,397 shares during the period. HighTower Advisors LLC owned approximately 0.12% of Exelixis worth $15,842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Motiv8 Investments LLC purchased a new position in shares of Exelixis in the 4th quarter valued at about $26,000. Cassaday & Co Wealth Management LLC acquired a new stake in Exelixis in the first quarter valued at approximately $27,000. Acumen Wealth Advisors LLC purchased a new position in Exelixis in the fourth quarter worth approximately $29,000. Western Wealth Management LLC acquired a new position in Exelixis during the 1st quarter worth approximately $29,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Exelixis by 1,380.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 773 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Performance

NASDAQ EXEL opened at $58.33 on Thursday. The firm has a market cap of $14.45 billion, a PE ratio of 18.34, a P/E/G ratio of 1.72 and a beta of 0.42. Exelixis, Inc. has a one year low of $33.76 and a one year high of $59.72. The firm’s fifty day moving average is $55.31 and its two-hundred day moving average is $49.84.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The company had revenue of $628.69 million during the quarter, compared to analysts’ expectations of $636.40 million. During the same period last year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts predict that Exelixis, Inc. will post 3.19 earnings per share for the current year.

Insider Buying and Selling

In other Exelixis news, Director Mary 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 value of $526,511.92. Following the completion of the sale, the director owned 16,079 shares of the company’s stock, valued at approximately $862,799.14. This trade represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group set a $55.00 price target on Exelixis in a report on Monday, August 3rd. Citizens Jmp raised their target price on Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Wednesday, June 24th. Citigroup reaffirmed a “market outperform” rating on shares of Exelixis in a report on Wednesday, July 22nd. Leerink Partners lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price target on the stock. in a research note on Thursday, August 6th. Finally, Morgan Stanley raised their price objective on shares of Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.07.

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.