Pacer Advisors Inc. Buys 308,633 Shares of Exelixis, Inc. $EXEL

Key Points

• Pacer Advisors increased its Exelixis stake by 24.9% in the first quarter, purchasing 308,633 shares and bringing its holdings to 1.55 million shares valued at approximately $66.5 million. Institutional investors collectively own 85.27% of the company.
• Exelixis reported quarterly EPS of $0.87, exceeding estimates of $0.75, while revenue rose 10% year over year to $610.81 million. The company posted a 35.08% net margin and analysts project $3.15 in full-year EPS.
• Analyst sentiment remains mixed: eight analysts rate the stock a Buy, 10 rate it Hold and one rates it Sell, resulting in a consensus Hold rating and an average price target of $49.29. Shares opened at $53.03, compared with a 52-week range of $33.76 to $57.57.

Pacer Advisors Inc. boosted its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 24.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,549,611 shares of the biotechnology company's stock after buying an additional 308,633 shares during the period. Pacer Advisors Inc. owned approximately 0.62% of Exelixis worth $66,463,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Motiv8 Investments LLC purchased a new stake in shares of Exelixis in the fourth quarter worth $26,000. Cassaday & Co Wealth Management LLC bought a new position in Exelixis in the 1st quarter worth about $27,000. Acumen Wealth Advisors LLC purchased a new stake in Exelixis during the 4th quarter valued at about $29,000. Western Wealth Management LLC bought a new stake in Exelixis during the 1st quarter valued at about $29,000. Finally, Activest Wealth Management bought a new stake in Exelixis during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insiders Place Their Bets

In other Exelixis news, CFO Christopher J. Senner sold 34,901 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $50.00, for a total transaction 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 approximately $47,615,850. The trade was a 3.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 32,110 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total value of $1,599,399.10. Following the completion of the transaction, the executive vice president owned 357,638 shares in the company, valued at approximately $17,813,948.78. This trade represents a 8.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 219,170 shares of company stock worth $10,620,641 in the last 90 days. Insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on EXEL shares. TD Cowen upped their target price on shares of Exelixis from $51.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. UBS Group reissued a "buy" rating on shares of Exelixis in a research report on Thursday, July 2nd. Weiss Ratings lowered shares of Exelixis from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, July 24th. HC Wainwright reaffirmed a "buy" rating and issued a $56.00 price objective on shares of Exelixis in a research report on Thursday, July 2nd. Finally, Royal Bank Of Canada increased their target price on Exelixis from $43.00 to $46.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 7th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $49.29.

Exelixis Stock Performance

EXEL opened at $53.03 on Monday. The stock has a market capitalization of $13.33 billion, a P/E ratio of 17.62, a P/E/G ratio of 1.53 and a beta of 0.42. The company's 50-day simple moving average is $53.73 and its two-hundred day simple moving average is $47.61. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $57.57.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS 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 period in the previous year, the business posted $0.55 earnings per share. The business's revenue for the quarter was up 10.0% on a year-over-year basis. Research analysts forecast that Exelixis, Inc. will post 3.15 EPS for the current fiscal year.

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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