Delap Wealth Advisory LLC Makes New Investment in Exelixis, Inc. (NASDAQ:EXEL)

Delap Wealth Advisory LLC bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the first quarter, HoldingsChannel reports. The institutional investor bought 9,025 shares of the biotechnology company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of Exelixis by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,364,480 shares of the biotechnology company’s stock worth $80,714,000 after acquiring an additional 28,840 shares during the last quarter. First Trust Advisors LP increased its holdings in Exelixis by 18.5% in the fourth quarter. First Trust Advisors LP now owns 3,152,755 shares of the biotechnology company’s stock valued at $75,635,000 after purchasing an additional 492,613 shares during the last quarter. Norges Bank bought a new stake in Exelixis in the fourth quarter valued at about $73,449,000. LSV Asset Management increased its holdings in Exelixis by 1,651.4% in the first quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock valued at $65,844,000 after purchasing an additional 2,616,278 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Exelixis by 948.3% in the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock valued at $58,240,000 after purchasing an additional 2,220,150 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Transactions at Exelixis

In other news, Director David Edward Johnson bought 200,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were bought at an average price of $20.32 per share, for a total transaction of $4,064,000.00. Following the completion of the purchase, the director now owns 1,300,730 shares in the company, valued at $26,430,833.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Exelixis news, Director George Poste sold 11,686 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $20.96, for a total transaction of $244,938.56. Following the transaction, the director now owns 213,907 shares in the company, valued at approximately $4,483,490.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David Edward Johnson acquired 200,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were bought at an average price of $20.32 per share, for a total transaction of $4,064,000.00. Following the purchase, the director now owns 1,300,730 shares in the company, valued at $26,430,833.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 30,896 shares of company stock worth $660,677. Company insiders own 2.85% of the company’s stock.

Exelixis Trading Up 1.5 %

NASDAQ:EXEL traded up $0.34 on Friday, hitting $23.30. The company’s stock had a trading volume of 773,076 shares, compared to its average volume of 2,044,094. The stock has a fifty day moving average of $21.88 and a two-hundred day moving average of $22.17. The firm has a market capitalization of $7.06 billion, a P/E ratio of 35.88, a price-to-earnings-growth ratio of 0.55 and a beta of 0.54. Exelixis, Inc. has a one year low of $18.64 and a one year high of $24.34.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.16). The business had revenue of $425.23 million during the quarter, compared to the consensus estimate of $461.04 million. Exelixis had a net margin of 11.10% and a return on equity of 8.85%. Exelixis’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. As a group, sell-side analysts anticipate that Exelixis, Inc. will post 1.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on EXEL. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price objective on shares of Exelixis in a report on Wednesday, April 10th. TD Cowen increased their price target on Exelixis from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Barclays downgraded Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a report on Thursday, April 11th. William Blair restated an “outperform” rating on shares of Exelixis in a report on Wednesday, May 1st. Finally, StockNews.com upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and an average target price of $26.13.

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.