Allium Financial Advisors LLC Buys Shares of 6,866 Exelixis, Inc. (NASDAQ:EXEL)

Key Points

• Allium Financial Advisors LLC acquired 6,866 shares of Exelixis, Inc. valued at approximately $253,000 during the 1st quarter.
• Exelixis stocks saw a recent price increase of 1.8%, now trading at $45.60, with a yearly high of $49.62.
• Insider sales have occurred, with EVP Patrick J. Haley selling 34,387 shares for over $1.5 million, reflecting a 7.70% decrease in his ownership.

Allium Financial Advisors LLC acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 6,866 shares of the biotechnology company's stock, valued at approximately $253,000.

Several other institutional investors also recently made changes to their positions in the stock. Coppell Advisory Solutions LLC acquired a new position in shares of Exelixis during the fourth quarter valued at $25,000. Colonial Trust Co SC raised its stake in shares of Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 765 shares in the last quarter. Bartlett & CO. Wealth Management LLC bought a new position in Exelixis in the 1st quarter worth approximately $37,000. Hurley Capital LLC bought a new position in Exelixis in the 4th quarter worth approximately $68,000. Finally, True Wealth Design LLC increased its position in Exelixis by 222.3% in the 4th quarter. True Wealth Design LLC now owns 2,253 shares of the biotechnology company's stock worth $75,000 after buying an additional 1,554 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EXEL. Stephens raised Exelixis from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $29.00 to $60.00 in a report on Tuesday, June 24th. William Blair restated an "outperform" rating on shares of Exelixis in a research report on Tuesday. Wells Fargo & Company reissued a "market outperform" rating on shares of Exelixis in a research note on Thursday, April 17th. Wall Street Zen cut Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Finally, Royal Bank Of Canada cut their price objective on Exelixis from $50.00 to $45.00 and set a "sector perform" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Exelixis has an average rating of "Moderate Buy" and a consensus price target of $44.44.

Insider Activity at Exelixis

In other news, CMO Amy C. Peterson sold 72,776 shares of the firm's stock in a transaction dated 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 transaction, the chief marketing officer owned 465,393 shares in the company, valued at approximately $21,161,419.71. This trade represents a 13.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sue Gail Eckhardt sold 18,838 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $42.74, for a total transaction of $805,136.12. Following the transaction, the director directly owned 21,380 shares in the company, valued at approximately $913,781.20. The trade was a 46.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 458,113 shares of company stock valued at $21,024,817 over the last quarter. Company insiders own 2.85% of the company's stock.

Exelixis Stock Up 0.3%

Shares of NASDAQ EXEL traded up $0.12 during trading on Wednesday, hitting $37.06. The company had a trading volume of 2,328,863 shares, compared to its average volume of 3,040,458. Exelixis, Inc. has a fifty-two week low of $23.13 and a fifty-two week high of $49.62. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 0.88 and a beta of 0.28. The stock has a fifty day simple moving average of $43.30 and a two-hundred day simple moving average of $38.90.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.12. The firm had revenue of $568.26 million for the quarter, compared to the consensus estimate of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 26.90%. The company's revenue was down 10.8% on a year-over-year basis. During the same period last year, the firm posted $0.84 EPS. On average, analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Exelixis 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.