Crossmark Global Holdings Inc. Raises Position in Exelixis, Inc. $EXEL

Crossmark Global Holdings Inc. boosted its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 231.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 79,277 shares of the biotechnology company’s stock after purchasing an additional 55,348 shares during the period. Crossmark Global Holdings Inc.’s holdings in Exelixis were worth $3,274,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. TriaGen Wealth Management LLC purchased a new stake in shares of Exelixis during the third quarter worth about $2,024,000. BridgePort Financial Solutions LLC purchased a new position in Exelixis during the 3rd quarter valued at about $517,000. Candriam S.C.A. increased its holdings in Exelixis by 18.4% during the 3rd quarter. Candriam S.C.A. now owns 696,104 shares of the biotechnology company’s stock valued at $28,749,000 after purchasing an additional 108,367 shares during the period. Allianz Asset Management GmbH raised its position in Exelixis by 153.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock valued at $101,720,000 after purchasing an additional 1,490,520 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Exelixis during the 2nd quarter valued at approximately $321,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Exelixis

In related news, EVP Dana Aftab sold 47,918 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $44.50, for a total value of $2,132,351.00. Following the sale, the executive vice president owned 616,106 shares in the company, valued at $27,416,717. This represents a 7.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jack L. Wyszomierski sold 99,574 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total value of $4,382,251.74. Following the transaction, the director directly owned 279,942 shares of the company’s stock, valued at approximately $12,320,247.42. This trade represents a 26.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 362,849 shares of company stock valued at $15,917,463. 2.82% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EXEL. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a research report on Thursday, January 22nd. Wells Fargo & Company upped their target price on Exelixis from $30.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, February 11th. Citigroup lowered Exelixis from a “market outperform” rating to an “underperform” rating in a research note on Monday, January 5th. HC Wainwright lifted their price target on shares of Exelixis from $52.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, UBS Group set a $41.00 price objective on shares of Exelixis in a research report on Monday, January 5th. Ten investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Exelixis has an average rating of “Hold” and a consensus target price of $46.94.

Exelixis Price Performance

NASDAQ:EXEL opened at $41.54 on Friday. The firm’s 50-day moving average price is $43.57 and its 200-day moving average price is $41.57. The company has a market capitalization of $10.79 billion, a PE ratio of 15.00, a P/E/G ratio of 0.94 and a beta of 0.41. Exelixis, Inc. has a 1-year low of $32.38 and a 1-year high of $49.62.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.20. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The company had revenue of $598.66 million during the quarter, compared to analysts’ expectations of $609.17 million. During the same period last year, the company posted $0.55 EPS. Exelixis’s revenue was up 5.6% on a year-over-year basis. Equities analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.