Exelixis, Inc. $EXEL Stake Lowered by Pacer Advisors Inc.

Key Points

• Pacer Advisors reduced its stake in Exelixis by 4.8% in the fourth quarter, selling 63,133 shares and leaving it with 1,240,978 shares valued at about $54.4 million.
• Exelixis reported better-than-expected quarterly results, with EPS of $0.87 versus the $0.75 estimate and revenue of $610.8 million, up 10% year over year.
• Analysts currently have a Hold consensus on the stock, with an average price target of $47.35, while several insiders have also sold shares in recent months.

Pacer Advisors Inc. cut its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,240,978 shares of the biotechnology company's stock after selling 63,133 shares during the quarter. Pacer Advisors Inc. owned approximately 0.48% of Exelixis worth $54,392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of EXEL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Exelixis by 81.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company's stock worth $1,592,000 after purchasing an additional 19,407 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Exelixis by 4.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company's stock valued at $54,153,000 after buying an additional 68,133 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Exelixis by 83.4% during the 1st quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company's stock valued at $1,420,000 after buying an additional 17,483 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Exelixis by 134.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company's stock valued at $61,000 after buying an additional 944 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its stake in shares of Exelixis by 23.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company's stock valued at $633,000 after buying an additional 2,764 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Royal Bank Of Canada reduced their target price on shares of Exelixis from $46.00 to $43.00 and set a "sector perform" rating for the company in a research note on Monday, March 2nd. Barclays increased their price target on shares of Exelixis from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, April 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Exelixis in a research note on Tuesday, May 19th. Wall Street Zen upgraded shares of Exelixis from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Finally, Truist Financial upgraded shares of Exelixis to a "strong-buy" rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Exelixis currently has a consensus rating of "Hold" and an average target price of $47.35.

Exelixis Stock Performance

NASDAQ:EXEL opened at $51.91 on Friday. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $53.93. The firm's fifty day simple moving average is $48.81 and its 200 day simple moving average is $45.20. The firm has a market capitalization of $13.05 billion, a PE ratio of 17.25, a PEG ratio of 1.50 and a beta of 0.41.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The firm had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. During the same quarter in the previous year, the business earned $0.55 EPS. The business's revenue was up 10.0% on a year-over-year basis. As a group, analysts anticipate that Exelixis, Inc. will post 3.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Dana Aftab sold 43,451 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the completion of the transaction, the executive vice president owned 594,741 shares of the company's stock, valued at approximately $29,945,209.35. The trade was a 6.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher J. Senner sold 34,901 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 952,317 shares in the company, valued at $47,615,850. This trade represents a 3.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 219,170 shares of company stock valued at $10,620,641 in the last ninety days. Company insiders own 2.60% of the company's stock.

About Exelixis

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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