Pallas Capital Advisors LLC Increases Holdings in Exelixis, Inc. $EXEL

Pallas Capital Advisors LLC increased its position in Exelixis, Inc. (NASDAQ:EXEL) by 42.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,264 shares of the biotechnology company’s stock after purchasing 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.

Other institutional investors also recently bought and sold shares of the company. Richardson Financial Services Inc. lifted its holdings in shares of 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 buying an additional 292 shares during the period. Anchor Investment Management LLC increased its stake in shares of Exelixis by 500.0% during the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 500 shares during the period. Root Financial Partners LLC purchased a new position in shares of Exelixis during the third quarter valued at $28,000. Luminist Capital LLC raised 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 acquiring an additional 685 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised 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 acquiring an additional 773 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Down 2.0%

Shares of EXEL opened at $41.53 on Friday. The company has a 50 day moving average of $42.77 and a two-hundred day moving average of $41.96. Exelixis, Inc. has a twelve month low of $32.38 and a twelve month high of $49.62. The company has a market cap of $10.79 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 0.93 and a beta of 0.41.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.74 by $0.20. The firm had revenue of $598.66 million during the quarter, compared to analyst estimates of $609.17 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 EPS. On average, sell-side analysts expect that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Activity at Exelixis

In other Exelixis news, EVP Dana Aftab sold 47,918 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 616,106 shares in the company, valued at approximately $27,416,717. This trade represents a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jack L. Wyszomierski sold 99,574 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total value of $4,382,251.74. Following the completion of the sale, the director directly owned 279,942 shares of the company’s stock, valued at approximately $12,320,247.42. This represents a 26.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 362,849 shares of company stock worth $15,917,463 over the last ninety days. Corporate insiders own 2.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on EXEL shares. Wells Fargo & Company increased their target price on shares of Exelixis from $30.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 11th. Zacks Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Royal Bank Of Canada lowered their price target on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Exelixis currently has an average rating of “Hold” and a consensus target price of $46.94.

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.