Post Resch Tallon Group Inc. Cuts Position in Exelixis, Inc. $EXEL

Post Resch Tallon Group Inc. trimmed its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 27.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 52,176 shares of the biotechnology company’s stock after selling 19,748 shares during the quarter. Exelixis accounts for about 1.9% of Post Resch Tallon Group Inc.’s investment portfolio, making the stock its 15th largest holding. Post Resch Tallon Group Inc.’s holdings in Exelixis were worth $2,287,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. TriaGen Wealth Management LLC purchased a new stake in Exelixis during the 3rd quarter worth $2,024,000. BridgePort Financial Solutions LLC acquired a new stake in Exelixis in the 3rd quarter valued at $517,000. Candriam S.C.A. raised its position in Exelixis by 18.4% in the third quarter. Candriam S.C.A. now owns 696,104 shares of the biotechnology company’s stock valued at $28,749,000 after purchasing an additional 108,367 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Exelixis by 11.2% during the third quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock worth $172,658,000 after purchasing an additional 419,596 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Exelixis by 153.3% during the third quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock worth $101,720,000 after purchasing an additional 1,490,520 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EXEL shares. Stifel Nicolaus increased their target price on Exelixis from $43.00 to $44.00 and gave the company a “hold” rating in a research note on Wednesday, February 11th. HC Wainwright boosted their price target on Exelixis from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Citigroup cut Exelixis from a “market outperform” rating to an “underperform” rating in a report on Monday, January 5th. Morgan Stanley increased their price objective on shares of Exelixis from $48.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. Finally, Royal Bank Of Canada dropped their price objective on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. Ten investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Exelixis currently has a consensus rating of “Hold” and a consensus target price of $46.94.

Exelixis Stock Performance

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

Exelixis (NASDAQ:EXEL) last issued its quarterly 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. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The firm had revenue of $598.66 million during the quarter, compared to the consensus estimate of $609.17 million. During the same quarter in the prior year, the business posted $0.55 earnings per share. Exelixis’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, research analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Activity at Exelixis

In related news, CFO Christopher J. Senner sold 34,278 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $43.00, for a total value of $1,473,954.00. Following the sale, the chief financial officer directly owned 1,042,579 shares of the company’s stock, valued at $44,830,897. This represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bob Oliver sold 30,250 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $43.81, for a total transaction of $1,325,252.50. Following the transaction, the director owned 21,120 shares in the company, valued at $925,267.20. This trade represents a 58.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 362,849 shares of company stock worth $15,917,463. 2.85% of the stock is currently owned by insiders.

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.