Entropy Technologies LP Buys 83,486 Shares of Exelixis, Inc. $EXEL

Entropy Technologies LP increased its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 342.6% during the first quarter, HoldingsChannel.com reports. The firm owned 107,851 shares of the biotechnology company’s stock after buying an additional 83,486 shares during the period. Entropy Technologies LP’s holdings in Exelixis were worth $4,626,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Compound Planning Inc. purchased a new position in Exelixis during the 1st quarter valued at about $257,000. Lido Advisors LLC purchased a new stake in shares of Exelixis in the first quarter worth about $250,000. State of Wyoming lifted its holdings in shares of Exelixis by 17.9% in the first quarter. State of Wyoming now owns 9,524 shares of the biotechnology company’s stock worth $408,000 after buying an additional 1,444 shares in the last quarter. Cetera Investment Advisers grew its stake in Exelixis by 17.4% during the first quarter. Cetera Investment Advisers now owns 169,881 shares of the biotechnology company’s stock valued at $7,286,000 after acquiring an additional 25,187 shares in the last quarter. Finally, Signature Equity Partners LLC grew its stake in Exelixis by 55.2% during the first quarter. Signature Equity Partners LLC now owns 3,114 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 1,108 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Activity

In related news, CFO Christopher J. Senner sold 34,901 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $50.00, for a total value of $1,745,050.00. Following the completion of the transaction, the chief financial officer directly owned 952,317 shares in the company, valued at approximately $47,615,850. The trade was a 3.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dana Aftab sold 43,451 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total value of $2,187,757.85. Following the completion of the transaction, the executive vice president directly owned 594,741 shares in the company, valued at approximately $29,945,209.35. This represents a 6.81% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 219,170 shares of company stock worth $10,620,641. Corporate insiders own 2.60% of the company’s stock.

Exelixis Trading Down 0.5%

EXEL stock opened at $55.37 on Friday. The company’s 50 day moving average is $53.16 and its 200 day moving average is $47.19. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.60 and a beta of 0.42. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $57.57.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. During the same period in the previous year, the business posted $0.55 earnings per share. Exelixis’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, sell-side analysts forecast that Exelixis, Inc. will post 3.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EXEL has been the topic of several recent analyst reports. Citigroup reiterated a “market outperform” rating on shares of Exelixis in a research note on Wednesday. UBS Group restated a “buy” rating on shares of Exelixis in a research report on Thursday, July 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $56.00 price target on shares of Exelixis in a report on Thursday, July 2nd. Morgan Stanley increased their price objective on Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, TD Cowen lifted their price objective on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Exelixis currently has an average rating of “Hold” and a consensus price target of $49.00.

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.