Tallon Kerry Patrick Buys Shares of 77,166 Exelixis, Inc. (NASDAQ:EXEL)

Tallon Kerry Patrick bought a new stake in Exelixis, Inc. (NASDAQ:EXELFree Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 77,166 shares of the biotechnology company’s stock, valued at approximately $2,619,000. Exelixis comprises 2.5% of Tallon Kerry Patrick’s portfolio, making the stock its 10th largest position.

Other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Exelixis in the third quarter valued at about $30,000. USA Financial Formulas bought a new position in Exelixis in the fourth quarter valued at about $32,000. Brooklyn Investment Group bought a new position in Exelixis in the third quarter valued at about $42,000. Capital Performance Advisors LLP bought a new position in Exelixis in the third quarter valued at about $61,000. Finally, Essex Investment Management Co. LLC bought a new position in shares of Exelixis in the third quarter worth about $74,000. Institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on EXEL. Stephens raised their price objective on Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. HC Wainwright raised their price objective on Exelixis from $29.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Truist Financial raised their price objective on Exelixis from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, TD Cowen raised their price objective on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.50.

Read Our Latest Stock Report on EXEL

Exelixis Trading Down 1.9 %

NASDAQ:EXEL opened at $36.55 on Friday. The stock has a market capitalization of $10.44 billion, a P/E ratio of 23.43, a P/E/G ratio of 0.87 and a beta of 0.53. The stock has a 50-day moving average price of $34.95 and a 200 day moving average price of $29.14. Exelixis, Inc. has a 12-month low of $20.01 and a 12-month high of $37.59.

Exelixis (NASDAQ:EXELGet Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The business had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. On average, research analysts predict that Exelixis, Inc. will post 1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the completion of the transaction, the executive vice president now owns 486,059 shares in the company, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director George Poste sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the transaction, the director now owns 169,020 shares of the company’s stock, valued at $5,746,680. This represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 314,736 shares of company stock worth $10,849,110 in the last quarter. 2.85% of the stock is owned by corporate insiders.

About Exelixis

(Free Report)

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.

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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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