Post Resch Tallon Group Inc. Reduces Holdings in Exelixis, Inc. $EXEL

Post Resch Tallon Group Inc. reduced its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 27.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,176 shares of the biotechnology company’s stock after selling 19,748 shares during the period. Exelixis accounts for about 1.9% of Post Resch Tallon Group Inc.’s holdings, making the stock its 15th biggest position. Post Resch Tallon Group Inc.’s holdings in Exelixis were worth $2,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farallon Capital Management LLC raised its holdings in shares of Exelixis by 21.6% in the third quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock worth $805,412,000 after acquiring an additional 3,466,000 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Exelixis by 1,230.8% during the third quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company’s stock valued at $131,994,000 after acquiring an additional 2,955,813 shares during the last quarter. Norges Bank purchased a new stake in Exelixis during the 2nd quarter worth about $122,099,000. Qube Research & Technologies Ltd raised its stake in Exelixis by 120.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock valued at $134,306,000 after purchasing an additional 1,665,110 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Exelixis by 42.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock valued at $231,951,000 after purchasing an additional 1,580,567 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Price Performance

Shares of EXEL stock opened at $41.27 on Monday. The firm has a market cap of $10.72 billion, a P/E ratio of 14.90, a PEG ratio of 0.93 and a beta of 0.41. Exelixis, Inc. has a 1-year low of $32.38 and a 1-year high of $49.62. The firm’s 50-day simple moving average is $43.04 and its 200-day simple moving average is $41.85.

Exelixis (NASDAQ:EXEL) last released its 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 firm had revenue of $598.66 million during the quarter, compared to the consensus estimate of $609.17 million. During the same period in the previous year, the firm earned $0.55 earnings per share. Exelixis’s revenue was up 5.6% compared to the same quarter last year. Analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bob Oliver sold 30,250 shares of Exelixis stock in a transaction on Friday, February 13th. The stock was sold at an average price of $43.81, for a total value of $1,325,252.50. Following the transaction, the director owned 21,120 shares in the company, valued at approximately $925,267.20. This trade represents a 58.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 47,918 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total value 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 trade represents a 7.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 362,849 shares of company stock worth $15,917,463 over the last 90 days. Company insiders own 2.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EXEL shares. HC Wainwright raised their price target on shares of Exelixis from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a research report on Thursday, January 22nd. Wells Fargo & Company upped their price objective on shares of Exelixis from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 11th. Stifel Nicolaus lifted their target price on shares of Exelixis from $43.00 to $44.00 and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Finally, Bank of America downgraded Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price target for the company. in a report on Monday, January 5th. 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, the company currently has a consensus rating of “Hold” and an average price target 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.