Horizon Investments LLC Purchases 76,363 Shares of Exelixis, Inc. $EXEL

Key Points

• Horizon Investments boosted its stake in Exelixis by 135.4% in Q4, purchasing 76,363 shares to own 132,744 shares valued at about $5.82 million.
• Exelixis beat EPS estimates ($0.94 vs. $0.74) and reported revenue up 5.6% year-over-year but slightly below expectations; the company has a market cap of ~$11.1 billion and a consensus analyst rating of Hold with a $47 target.
• Insider selling has been heavy recently — insiders sold 362,849 shares (~$15.9 million) over the past 90 days, including large sales by a director and an EVP, and insiders now own 2.60% of the stock.

Horizon Investments LLC increased its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 135.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 132,744 shares of the biotechnology company's stock after purchasing an additional 76,363 shares during the quarter. Horizon Investments LLC's holdings in Exelixis were worth $5,818,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Richardson Financial Services Inc. raised its holdings in shares of Exelixis by 95.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company's stock valued at $25,000 after purchasing an additional 292 shares during the period. RHS Financial LLC raised its holdings in shares of Exelixis by 2.4% in the 4th quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company's stock valued at $553,000 after purchasing an additional 293 shares during the period. Cim LLC raised its holdings in shares of Exelixis by 0.9% in the 3rd quarter. Cim LLC now owns 35,397 shares of the biotechnology company's stock valued at $1,462,000 after purchasing an additional 305 shares during the period. Evergreen Capital Management LLC raised its holdings in shares of Exelixis by 6.4% in the 3rd quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company's stock valued at $225,000 after purchasing an additional 329 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Exelixis by 5.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,919 shares of the biotechnology company's stock valued at $327,000 after purchasing an additional 384 shares during the period. 85.27% of the stock is owned by institutional investors.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $43.68 on Monday. The company's 50 day moving average price is $43.31 and its two-hundred day moving average price is $42.82. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $49.62. The firm has a market cap of $11.10 billion, a PE ratio of 15.77, a PEG ratio of 0.98 and a beta of 0.38.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $609.17 million. During the same quarter in the prior year, the business posted $0.55 EPS. The business's revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect that Exelixis, Inc. will post 3.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on EXEL shares. Citigroup cut shares of Exelixis from a "market outperform" rating to an "underperform" rating in a report on Monday, January 5th. Zacks Research cut shares of Exelixis from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 5th. Barclays increased their price target on shares of Exelixis from $44.00 to $45.00 and gave the company an "equal weight" rating in a report on Monday, April 20th. Royal Bank Of Canada lowered their price target on shares of Exelixis from $46.00 to $43.00 and set a "sector perform" rating on the stock in a report on Monday, March 2nd. Finally, UBS Group set a $41.00 price target on shares of Exelixis in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $47.00.

Insider Activity

In related news, Director Bob Oliver sold 30,250 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $43.81, for a total transaction of $1,325,252.50. Following the sale, the director owned 21,120 shares in the company, valued at approximately $925,267.20. This trade represents a 58.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dana Aftab sold 47,918 shares of the stock in a transaction that occurred 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 owned 616,106 shares in the company, valued at $27,416,717. This represents a 7.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 362,849 shares of company stock worth $15,917,463. Insiders own 2.60% of the company's stock.

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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