CWA Asset Management Group LLC Boosts Holdings in Exelixis, Inc. (NASDAQ:EXEL)

CWA Asset Management Group LLC lifted its position in Exelixis, Inc. (NASDAQ:EXEL) by 22.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,201 shares of the biotechnology company’s stock after purchasing an additional 4,979 shares during the quarter. CWA Asset Management Group LLC’s holdings in Exelixis were worth $906,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its holdings in shares of Exelixis by 11.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 142,207 shares of the biotechnology company’s stock valued at $3,195,000 after acquiring an additional 14,174 shares in the last quarter. Victory Capital Management Inc. raised its stake in Exelixis by 15.2% in the second quarter. Victory Capital Management Inc. now owns 116,806 shares of the biotechnology company’s stock valued at $2,625,000 after purchasing an additional 15,368 shares in the last quarter. Quest Partners LLC raised its position in shares of Exelixis by 89,717.4% during the 2nd quarter. Quest Partners LLC now owns 41,316 shares of the biotechnology company’s stock valued at $928,000 after buying an additional 41,270 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Exelixis by 5.4% during the 2nd quarter. Texas Permanent School Fund Corp now owns 279,654 shares of the biotechnology company’s stock worth $6,284,000 after acquiring an additional 14,302 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. grew its position in Exelixis by 1.1% in the second quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock worth $1,135,000 after acquiring an additional 539 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Exelixis Trading Up 3.0 %

Shares of Exelixis stock opened at $34.21 on Wednesday. Exelixis, Inc. has a 12-month low of $19.20 and a 12-month high of $36.97. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 0.89 and a beta of 0.53. The firm’s 50 day simple moving average is $34.78 and its two-hundred day simple moving average is $28.63.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same quarter last year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, sell-side analysts predict that Exelixis, Inc. will post 1.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EXEL. Bank of America lowered Exelixis from a “buy” rating to a “neutral” rating and increased their price objective for the company from $35.00 to $39.00 in a research report on Tuesday, December 17th. Morgan Stanley upped their target price on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Piper Sandler lifted their price target on shares of Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. BMO Capital Markets lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $36.00 to $40.00 in a report on Friday, December 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $34.00 price target on shares of Exelixis in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Activity

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.39, for a total value of $709,750.00. Following the completion of the transaction, the executive vice president now owns 580,325 shares of the company’s stock, valued at $16,475,426.75. This trade represents a 4.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Patrick J. Haley sold 41,588 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.36, for a total value of $1,428,963.68. Following the sale, the executive vice president now directly owns 288,665 shares in the company, valued at $9,918,529.40. This represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 314,736 shares of company stock valued at $10,849,110. 2.85% of the stock is currently owned by company insiders.

Exelixis 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.