RWA Wealth Partners LLC Buys Shares of 10,000 Exelixis, Inc. (NASDAQ:EXEL)

RWA Wealth Partners LLC bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,000 shares of the biotechnology company’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds also recently bought and sold shares of EXEL. Acadian Asset Management LLC boosted its holdings in Exelixis by 1,043.9% in the 3rd quarter. Acadian Asset Management LLC now owns 1,957,848 shares of the biotechnology company’s stock valued at $42,750,000 after purchasing an additional 1,786,687 shares during the last quarter. abrdn plc purchased a new stake in shares of Exelixis in the 4th quarter valued at approximately $15,997,000. California Public Employees Retirement System raised its stake in shares of Exelixis by 42.3% in the 3rd quarter. California Public Employees Retirement System now owns 1,771,128 shares of the biotechnology company’s stock valued at $38,699,000 after acquiring an additional 526,814 shares during the period. NewEdge Wealth LLC purchased a new stake in shares of Exelixis in the 3rd quarter valued at approximately $10,238,000. Finally, Braun Stacey Associates Inc. purchased a new stake in shares of Exelixis in the 4th quarter valued at approximately $10,414,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Trading Up 0.7 %

Shares of Exelixis stock opened at $23.70 on Friday. The company has a fifty day simple moving average of $22.80 and a 200-day simple moving average of $22.18. Exelixis, Inc. has a 12-month low of $18.08 and a 12-month high of $24.34. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 0.63 and a beta of 0.54.

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

Insiders Place Their Bets

In other news, Director David Edward Johnson acquired 190,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average price of $20.70 per share, for a total transaction of $3,933,000.00. Following the transaction, the director now owns 1,100,730 shares in the company, valued at $22,785,111. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director David Edward Johnson purchased 190,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was acquired at an average price of $20.70 per share, for a total transaction of $3,933,000.00. Following the acquisition, the director now directly owns 1,100,730 shares of the company’s stock, valued at approximately $22,785,111. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alan M. Garber sold 19,205 shares of the stock in a transaction dated 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 transaction, the director now owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EXEL. Barclays downgraded shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a research note on Thursday, April 11th. TheStreet raised shares of Exelixis from a “c+” rating to a “b-” rating in a research note on Monday, March 18th. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 target price on shares of Exelixis in a research note on Wednesday, April 10th. Royal Bank of Canada upped their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Friday, January 26th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.29.

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.