Exelixis, Inc. $EXEL is Farallon Capital Management LLC’s 3rd Largest Position

Farallon Capital Management LLC increased its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 21.6% in the third quarter, HoldingsChannel.com reports. The firm owned 19,501,500 shares of the biotechnology company’s stock after buying an additional 3,466,000 shares during the quarter. Exelixis makes up 3.3% of Farallon Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Farallon Capital Management LLC owned 0.07% of Exelixis worth $805,412,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey grew its holdings in Exelixis by 0.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock valued at $4,521,000 after purchasing an additional 274 shares during the period. Richardson Financial Services Inc. raised its stake in shares of Exelixis by 95.1% during 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. Cim LLC raised its stake in shares of Exelixis by 0.9% during the 3rd quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock worth $1,462,000 after buying an additional 305 shares during the period. Evergreen Capital Management LLC lifted its position in shares of Exelixis by 6.4% during the 3rd quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company’s stock valued at $225,000 after buying an additional 329 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Exelixis by 5.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,919 shares of the biotechnology company’s stock valued at $327,000 after buying an additional 384 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Stock Up 0.2%

Shares of EXEL opened at $41.24 on Monday. Exelixis, Inc. has a 52-week low of $32.38 and a 52-week high of $49.62. The stock has a market cap of $10.71 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 0.93 and a beta of 0.41. The firm’s fifty day moving average is $43.31 and its two-hundred day moving average is $41.71.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Truist Financial set a $51.00 price target on shares of Exelixis in a report on Wednesday, January 14th. Royal Bank Of Canada dropped their target price on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Wells Fargo & Company upped their price target on shares of Exelixis from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research note on Thursday, January 22nd. Ten analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Exelixis has an average rating of “Hold” and a consensus price target of $46.94.

Insider Activity at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 30,617 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $43.67, for a total value of $1,337,044.39. Following the completion of the sale, the chief financial officer owned 976,092 shares in the company, valued at approximately $42,625,937.64. This represents a 3.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dana Aftab sold 47,918 shares of the firm’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 transaction of $2,132,351.00. Following the completion of the transaction, the executive vice president directly owned 616,106 shares in the company, valued at $27,416,717. This trade represents a 7.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 362,849 shares of company stock worth $15,917,463 in the last 90 days. 2.85% of the stock is owned by insiders.

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.