Mach 1 Financial Group LLC Acquires Shares of 14,235 Exelixis, Inc. $EXEL

Mach 1 Financial Group LLC bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 14,235 shares of the biotechnology company’s stock, valued at approximately $624,000.

Other institutional investors have also modified their holdings of the company. Farallon Capital Management LLC lifted its holdings in shares of Exelixis by 21.6% during the third quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock worth $805,412,000 after purchasing an additional 3,466,000 shares during the period. Assetmark Inc. boosted its holdings in shares of Exelixis by 1,230.8% in the third quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company’s stock valued at $131,994,000 after acquiring an additional 2,955,813 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Exelixis by 20.7% during the third quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock worth $379,190,000 after acquiring an additional 1,575,280 shares during the period. Allianz Asset Management GmbH raised its holdings in Exelixis by 153.3% during the third quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock worth $101,720,000 after purchasing an additional 1,490,520 shares in the last quarter. Finally, UBS Group AG increased its position in Exelixis by 100.1% during the 3rd quarter. UBS Group AG now owns 2,655,069 shares of the biotechnology company’s stock worth $109,654,000 after purchasing an additional 1,328,087 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity

In other Exelixis news, Director Maria C. Freire sold 20,634 shares of Exelixis stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $46.00, for a total transaction of $949,164.00. Following the completion of the transaction, the director owned 100,819 shares in the company, valued at approximately $4,637,674. The trade was a 16.99% decrease in their ownership of the stock. The sale 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 company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the completion of the sale, the executive vice president directly owned 616,106 shares in the company, valued at $27,416,717. This trade represents a 7.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 177,790 shares of company stock worth $8,275,453 in the last three months. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EXEL. TD Cowen upped their price objective on Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Royal Bank Of Canada decreased their target price on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Morgan Stanley upped their price target on shares of Exelixis from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. 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. Finally, HC Wainwright raised their price objective on shares of Exelixis from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.35.

Exelixis Stock Performance

Shares of EXEL stock opened at $49.65 on Friday. The stock has a fifty day moving average price of $44.93 and a 200 day moving average price of $43.80. The stock has a market cap of $12.48 billion, a PE ratio of 16.50, a P/E/G ratio of 1.06 and a beta of 0.38. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $51.63.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.12. The company had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.Exelixis’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. As a group, equities research analysts predict that Exelixis, Inc. will post 3.15 earnings per share for the current year.

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.