Burney Co. Acquires New Position in Exelixis, Inc. (NASDAQ:EXEL)

Burney Co. bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 368,373 shares of the biotechnology company’s stock, valued at approximately $12,267,000. Burney Co. owned 0.13% of Exelixis at the end of the most recent quarter.

A number of other large investors have also modified their holdings of EXEL. Park Avenue Securities LLC acquired a new position in Exelixis during the fourth quarter worth $221,000. Pallas Capital Advisors LLC boosted 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 worth $743,000 after purchasing 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 worth $712,000 after purchasing an additional 1,236 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Exelixis by 2.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 146,659 shares of the biotechnology company’s stock valued at $4,884,000 after purchasing an additional 3,112 shares in the last quarter. Finally, Range Financial Group LLC acquired a new stake in shares of Exelixis in the fourth quarter valued at about $994,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EXEL has been the topic of several recent analyst reports. Morgan Stanley upped their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Truist Financial raised their price objective on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and set a $29.00 target price on shares of Exelixis in a research report on Friday, October 11th. Stifel Nicolaus raised their price target on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Finally, UBS Group initiated coverage on shares of Exelixis in a research report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.75.

Exelixis Stock Up 2.6 %

Shares of NASDAQ EXEL opened at $36.56 on Wednesday. The stock has a market capitalization of $10.44 billion, a PE ratio of 23.44, a P/E/G ratio of 0.88 and a beta of 0.53. The firm has a fifty day moving average of $34.90 and a 200-day moving average of $28.99. Exelixis, Inc. has a 52-week low of $20.01 and a 52-week high of $36.97.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The company had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. Equities research analysts expect that Exelixis, Inc. will post 1.69 EPS for the current fiscal year.

Insider Activity at Exelixis

In related news, EVP Dana Aftab sold 1,162 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $15,666,873. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 486,059 shares in the company, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,736 shares of company stock worth $10,849,110. Company 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.