Exelixis, Inc. $EXEL Shares Sold by Burney Co.

Key Points

• Burney Co. reduced its stake in Exelixis by 11.1% in Q4, selling 25,538 shares and ending the period with 204,597 shares worth about $8.97 million.
• Insider selling accelerated recently — CFO Christopher Senner sold 30,617 shares (~$1.34M) and EVP Dana Aftab sold 47,918 shares (~$2.13M); insiders have sold 362,849 shares worth $15.92M over the last three months and now own 2.82% of the stock.
• Q4 results showed an EPS beat ($0.94 vs. $0.74) with revenue of $598.66M (slightly below estimates); the company has a $11.5B market cap and a consensus analyst rating of "Hold" with a $46.94 target.

Burney Co. lowered its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,597 shares of the biotechnology company's stock after selling 25,538 shares during the period. Burney Co. owned approximately 0.08% of Exelixis worth $8,967,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. TriaGen Wealth Management LLC purchased a new position in Exelixis during the third quarter worth approximately $2,024,000. BridgePort Financial Solutions LLC purchased a new position in Exelixis during the third quarter worth approximately $517,000. Candriam S.C.A. raised its stake in Exelixis by 18.4% during the third quarter. Candriam S.C.A. now owns 696,104 shares of the biotechnology company's stock worth $28,749,000 after purchasing an additional 108,367 shares during the period. Dimensional Fund Advisors LP raised its stake in 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 during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Exelixis by 153.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company's stock valued at $101,720,000 after acquiring an additional 1,490,520 shares during the period. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Activity

In related news, CFO Christopher J. Senner sold 30,617 shares of Exelixis stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $43.67, for a total transaction of $1,337,044.39. Following the sale, the chief financial officer owned 976,092 shares of the company's stock, valued at $42,625,937.64. The trade was a 3.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dana Aftab sold 47,918 shares of Exelixis stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the sale, the executive vice president directly owned 616,106 shares in the company, valued at $27,416,717. This trade represents a 7.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 362,849 shares of company stock worth $15,917,463 over the last three months. 2.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on EXEL. Wall Street Zen raised shares of Exelixis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 14th. Morgan Stanley raised their target price on shares of Exelixis from $48.00 to $49.00 and gave the company an "equal weight" rating in a research note on Monday, February 2nd. UBS Group set a $41.00 target price on shares of Exelixis in a research note on Monday, January 5th. Royal Bank Of Canada cut their target price 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. Finally, Barclays raised their target price on shares of Exelixis from $41.00 to $44.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $46.94.

Exelixis Trading Down 2.5%

Shares of EXEL stock opened at $44.27 on Friday. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $49.62. The company has a market cap of $11.50 billion, a PE ratio of 15.98, a P/E/G ratio of 0.99 and a beta of 0.42. The company's fifty day simple moving average is $42.85 and its 200-day simple moving average is $42.27.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $609.17 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm's quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

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.

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