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

Pacer Advisors Inc. raised its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 24.9% during the 1st quarter, HoldingsChannel reports. The fund owned 1,549,611 shares of the biotechnology company’s stock after acquiring an additional 308,633 shares during the quarter. Pacer Advisors Inc.’s holdings in Exelixis were worth $66,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Motiv8 Investments LLC purchased a new stake in shares of Exelixis in the 4th quarter worth $26,000. Cassaday & Co Wealth Management LLC bought a new position in Exelixis in the 1st quarter worth $27,000. Acumen Wealth Advisors LLC purchased a new position in Exelixis during the fourth quarter valued at $29,000. Western Wealth Management LLC purchased a new position in Exelixis during the first quarter valued at $29,000. Finally, Activest Wealth Management bought a new stake in Exelixis during the fourth quarter valued at about $32,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Stock Performance

Shares of EXEL stock opened at $53.03 on Monday. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $57.57. The firm has a market capitalization of $13.33 billion, a PE ratio of 17.62, a PEG ratio of 1.53 and a beta of 0.42. The stock has a fifty day simple moving average of $53.73 and a two-hundred day simple moving average of $47.61.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The business had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. During the same period last year, the firm earned $0.55 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that Exelixis, Inc. will post 3.15 EPS for the current fiscal year.

Insider Activity

In other Exelixis news, Director Jack L. Wyszomierski sold 3,925 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $50.55, for a total value of $198,408.75. Following the completion of the transaction, the director directly owned 284,384 shares in the company, valued at $14,375,611.20. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick J. Haley sold 32,110 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the sale, the executive vice president directly owned 357,638 shares of the company’s stock, 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 valued at $10,620,641 in the last three months. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

EXEL has been the subject of a number of analyst reports. Stifel Nicolaus upped their price target on Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings downgraded Exelixis from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Truist Financial boosted their price objective on Exelixis from $54.00 to $56.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. Royal Bank Of Canada increased their target price on shares of Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Finally, Wells Fargo & Company raised their target price on shares of Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, July 13th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $49.29.

Exelixis Company 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.