Teton Advisors LLC Makes New Investment in Exelixis, Inc. $EXEL

Teton Advisors LLC bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the biotechnology company’s stock, valued at approximately $2,065,000. Exelixis makes up approximately 1.3% of Teton Advisors LLC’s investment portfolio, making the stock its 22nd largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in EXEL. Richardson Financial Services Inc. increased its stake in shares of Exelixis by 95.1% in the third 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 last quarter. Root Financial Partners LLC bought a new position in Exelixis during the 3rd quarter valued at $28,000. Luminist Capital LLC grew its holdings in Exelixis by 2,740.0% during the 2nd quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 685 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in Exelixis during the 3rd quarter worth $47,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Exelixis in the 2nd quarter worth about $60,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXEL has been the topic of a number of recent analyst reports. Bank of America lowered shares of Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 target price on the stock. in a research note on Monday, January 5th. Wells Fargo & Company boosted their price objective on Exelixis from $30.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, February 11th. Barclays upped their price objective on Exelixis from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 4th. UBS Group set a $41.00 target price on Exelixis in a research report on Monday, January 5th. Finally, HC Wainwright boosted their price target on Exelixis from $52.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Ten equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.94.

Exelixis Stock Up 0.6%

Shares of NASDAQ:EXEL opened at $41.54 on Friday. The company has a market cap of $10.79 billion, a PE ratio of 15.00, a P/E/G ratio of 0.93 and a beta of 0.41. Exelixis, Inc. has a fifty-two week low of $32.38 and a fifty-two week high of $49.62. The firm has a 50-day simple moving average of $43.57 and a 200 day simple moving average of $41.54.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $609.17 million. During the same quarter last year, the company posted $0.55 earnings per share. Exelixis’s revenue was up 5.6% on a year-over-year basis. As a group, research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In related news, Director Jack L. Wyszomierski sold 99,574 shares of the firm’s stock in a transaction that occurred on 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 sale, the director 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Brenda Hefti sold 18,669 shares of the business’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 $821,622.69. Following the transaction, the senior vice president owned 96,512 shares of the company’s stock, valued at $4,247,493.12. This represents a 16.21% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 362,849 shares of company stock worth $15,917,463. Corporate insiders own 2.82% of the company’s stock.

Exelixis Company 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.