Exelixis, Inc. $EXEL Shares Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC increased its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 42.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,264 shares of the biotechnology company’s stock after buying an additional 14,405 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Exelixis were worth $2,115,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Richardson Financial Services Inc. raised its stake in Exelixis by 95.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 292 shares during the last quarter. Anchor Investment Management LLC grew its stake in Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Root Financial Partners LLC purchased a new stake in Exelixis during the 3rd quarter valued at about $28,000. Luminist Capital LLC increased its holdings in shares of Exelixis by 2,740.0% in the second quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 685 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Exelixis by 1,380.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 773 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Exelixis

In related news, EVP Dana Aftab sold 47,918 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the sale, the executive vice president directly owned 616,106 shares of the company’s stock, valued at approximately $27,416,717. This represents a 7.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Patrick J. Haley sold 67,814 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $43.52, for a total transaction of $2,951,265.28. Following the sale, the executive vice president owned 381,908 shares in the company, valued at approximately $16,620,636.16. This represents a 15.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 362,849 shares of company stock worth $15,917,463. 2.82% of the stock is currently owned by insiders.

Exelixis Stock Down 2.0%

Shares of EXEL opened at $41.53 on Friday. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 0.93 and a beta of 0.41. Exelixis, Inc. has a 52 week low of $32.38 and a 52 week high of $49.62. The stock’s 50-day moving average price is $42.77 and its 200-day moving average price is $41.96.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.20. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.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 business earned $0.55 earnings per share. Exelixis’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on EXEL. Zacks Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. HC Wainwright increased their price target on shares of Exelixis from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a research report on Thursday, January 22nd. Stifel Nicolaus lifted their price objective on shares of Exelixis from $43.00 to $44.00 and gave the company a “hold” rating in a research note on Wednesday, February 11th. Finally, Morgan Stanley upped their price objective on shares of Exelixis from $48.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Exelixis presently has a consensus rating of “Hold” and an average price target of $46.94.

Exelixis Profile

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.