USA Financial Formulas Takes $32,000 Position in Exelixis, Inc. (NASDAQ:EXEL)

USA Financial Formulas acquired a new position in Exelixis, Inc. (NASDAQ:EXEL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 968 shares of the biotechnology company’s stock, valued at approximately $32,000.

Other large investors also recently added to or reduced their stakes in the company. Burney Co. purchased a new position in Exelixis during the fourth quarter valued at $12,267,000. Park Avenue Securities LLC bought a new position in shares of Exelixis in the fourth quarter worth about $221,000. Pallas Capital Advisors LLC lifted its position in shares of Exelixis by 155.0% during the 4th quarter. Pallas Capital Advisors LLC now owns 22,327 shares of the biotechnology company’s stock valued at $743,000 after buying an additional 13,572 shares in the last quarter. Cooper Financial Group grew its stake in shares of Exelixis by 6.1% during the 4th quarter. Cooper Financial Group now owns 21,377 shares of the biotechnology company’s stock valued at $712,000 after acquiring an additional 1,236 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Exelixis by 2.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 146,659 shares of the biotechnology company’s stock worth $4,884,000 after acquiring an additional 3,112 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EXEL has been the topic of several analyst reports. JMP Securities lifted their price target on shares of Exelixis from $34.00 to $41.00 and gave the company a “market outperform” rating in a report on Wednesday. TD Cowen upped their target price on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Morgan Stanley raised their price target on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. HC Wainwright boosted their price objective on Exelixis from $29.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.50.

Exelixis Stock Performance

NASDAQ EXEL opened at $36.20 on Friday. The stock has a 50 day moving average price of $34.97 and a 200-day moving average price of $29.28. Exelixis, Inc. has a one year low of $20.01 and a one year high of $37.59. The company has a market capitalization of $10.34 billion, a P/E ratio of 23.21, a P/E/G ratio of 0.87 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same quarter last year, the business earned $0.10 earnings per share. Exelixis’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts predict that Exelixis, Inc. will post 1.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now owns 486,059 shares in the company, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 1,162 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the sale, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 314,736 shares of company stock worth $10,849,110. Corporate insiders own 2.85% of the company’s stock.

Exelixis Company 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.