Allegiance Financial Group Advisory Services LLC Acquires Shares of 8,257 Exelixis, Inc. (NASDAQ:EXEL)

Allegiance Financial Group Advisory Services LLC acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,257 shares of the biotechnology company's stock, valued at approximately $305,000.

Other institutional investors have also recently modified their holdings of the company. Invesco Ltd. raised its holdings in Exelixis by 308.1% in the 4th quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company's stock valued at $132,376,000 after acquiring an additional 3,001,204 shares during the last quarter. Norges Bank acquired a new position in Exelixis in the 4th quarter valued at $94,867,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in Exelixis by 330.4% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company's stock valued at $82,730,000 after acquiring an additional 1,907,167 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Exelixis by 104.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company's stock valued at $105,208,000 after acquiring an additional 1,613,482 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Exelixis in the 4th quarter valued at $30,321,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Stock Performance

Exelixis stock traded down $0.40 during trading on Friday, reaching $44.47. 1,772,167 shares of the company's stock were exchanged, compared to its average volume of 2,533,253. The company's 50-day moving average is $43.17 and its two-hundred day moving average is $38.41. Exelixis, Inc. has a 52-week low of $22.20 and a 52-week high of $49.62. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 0.90 and a beta of 0.28.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. HC Wainwright boosted their price target on Exelixis from $47.00 to $53.00 and gave the company a "buy" rating in a report on Monday, June 30th. Guggenheim set a $45.00 price target on Exelixis and gave the company a "buy" rating in a report on Thursday, May 15th. JMP Securities upped their price objective on Exelixis from $47.00 to $50.00 and gave the stock a "market outperform" rating in a report on Monday, June 23rd. UBS Group set a $43.00 price objective on Exelixis and gave the stock a "neutral" rating in a report on Friday, July 11th. Finally, Benchmark restated a "neutral" rating on shares of Exelixis in a report on Monday, June 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Exelixis presently has an average rating of "Moderate Buy" and an average target price of $45.28.

Insider Activity

In related news, CMO Amy C. Peterson sold 72,776 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $45.47, for a total transaction of $3,309,124.72. Following the completion of the sale, the chief marketing officer directly owned 465,393 shares of the company's stock, valued at approximately $21,161,419.71. This represents a 13.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 34,387 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $44.06, for a total transaction of $1,515,091.22. Following the sale, the executive vice president directly owned 412,072 shares of the company's stock, valued at approximately $18,155,892.32. This trade represents a 7.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 458,113 shares of company stock worth $21,024,817 in the last quarter. Insiders own 2.82% of the company's stock.

Exelixis Company Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.