Gallacher Capital Management LLC Acquires Shares of 8,184 Exelixis, Inc. (NASDAQ:EXEL)

Gallacher Capital Management LLC bought a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,184 shares of the biotechnology company's stock, valued at approximately $302,000.

A number of other hedge funds have also made changes to their positions in EXEL. Farther Finance Advisors LLC increased its stake in Exelixis by 6.1% during the 1st quarter. Farther Finance Advisors LLC now owns 5,372 shares of the biotechnology company's stock worth $195,000 after buying an additional 307 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of Exelixis by 1.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company's stock valued at $573,000 after buying an additional 317 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Exelixis by 9.2% during the first quarter. Larson Financial Group LLC now owns 4,367 shares of the biotechnology company's stock valued at $161,000 after buying an additional 367 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of Exelixis by 7.8% during the fourth quarter. Sterling Capital Management LLC now owns 6,627 shares of the biotechnology company's stock valued at $221,000 after buying an additional 477 shares during the last quarter. Finally, Comerica Bank lifted its stake in shares of Exelixis by 0.6% in the 4th quarter. Comerica Bank now owns 87,681 shares of the biotechnology company's stock worth $2,920,000 after acquiring an additional 544 shares during the period. Hedge funds and other institutional investors own 85.27% of the company's stock.

Exelixis Stock Performance

Shares of NASDAQ EXEL traded down $0.43 during trading on Thursday, reaching $44.98. The company had a trading volume of 1,262,179 shares, compared to its average volume of 2,918,523. Exelixis, Inc. has a 52 week low of $22.36 and a 52 week high of $49.62. The stock has a market cap of $12.27 billion, a PE ratio of 20.43, a PEG ratio of 0.89 and a beta of 0.28. The business's 50 day moving average price is $43.47 and its 200-day moving average price is $38.59.

Insider Activity

In other news, CMO Amy C. Peterson sold 72,776 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $45.47, for a total value of $3,309,124.72. Following the completion of the transaction, the chief marketing officer owned 465,393 shares in the company, valued at $21,161,419.71. This represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Senner sold 100,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $46.00, for a total transaction of $4,600,000.00. Following the completion of the transaction, the chief financial officer owned 967,842 shares of the company's stock, valued at $44,520,732. This trade represents a 9.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 458,113 shares of company stock valued at $21,024,817. 2.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Jefferies Financial Group set a $50.00 price target on shares of Exelixis and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Barclays upped their price target on shares of Exelixis from $29.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Wall Street Zen lowered shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th. Benchmark reiterated a "neutral" rating on shares of Exelixis in a report on Monday, June 23rd. Finally, UBS Group set a $43.00 price target on shares of Exelixis and gave the company a "neutral" rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Exelixis has a consensus rating of "Moderate Buy" and a consensus target price of $45.33.

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.