Journey Strategic Wealth LLC Takes $281,000 Position in Exelixis, Inc. $EXEL

Journey Strategic Wealth LLC bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) during the second quarter, according to its most recent filing with the SEC. The fund bought 6,371 shares of the biotechnology company’s stock, valued at approximately $281,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Exelixis during the first quarter worth about $123,310,000. AQR Capital Management LLC boosted its stake in Exelixis by 73.8% in the first quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company’s stock valued at $250,869,000 after acquiring an additional 2,926,884 shares during the last quarter. Invesco Ltd. grew its position in shares of Exelixis by 40.2% during the 1st quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company’s stock valued at $205,725,000 after acquiring an additional 1,596,948 shares during the period. Jupiter Asset Management Ltd. increased its stake in shares of Exelixis by 233.4% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,400,270 shares of the biotechnology company’s stock worth $51,698,000 after purchasing an additional 980,319 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of Exelixis by 87.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 972,428 shares of the biotechnology company’s stock worth $42,860,000 after purchasing an additional 453,020 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXEL has been the topic of several research analyst reports. Cowen reiterated a “buy” rating on shares of Exelixis in a research note on Wednesday, November 5th. Royal Bank Of Canada restated a “sector perform” rating and issued a $45.00 target price on shares of Exelixis in a research note on Tuesday, October 21st. Zacks Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. UBS Group lifted their price objective on Exelixis from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Exelixis has an average rating of “Moderate Buy” and a consensus price target of $45.45.

Exelixis Stock Up 1.7%

EXEL stock opened at $42.51 on Monday. The stock has a 50-day simple moving average of $39.86 and a two-hundred day simple moving average of $40.69. Exelixis, Inc. has a twelve month low of $31.90 and a twelve month high of $49.62. The firm has a market capitalization of $11.40 billion, a PE ratio of 20.44, a PEG ratio of 0.79 and a beta of 0.32.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The firm had revenue of $597.76 million for the quarter, compared to the consensus estimate of $590.04 million. During the same period in the prior year, the firm posted $0.47 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Exelixis has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mary C. Beckerle sold 24,622 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $41.93, for a total value of $1,032,400.46. Following the transaction, the director owned 21,380 shares of the company’s stock, valued at approximately $896,463.40. This represents a 53.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stelios Papadopoulos sold 100,000 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $43.55, for a total value of $4,355,000.00. Following the completion of the sale, the director owned 1,189,228 shares in the company, valued at $51,790,879.40. This trade represents a 7.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 173,005 shares of company stock worth $7,443,678 in the last three months. 2.82% of the stock is currently owned by corporate insiders.

About Exelixis

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.