Teton Advisors LLC Buys Shares of 50,000 Exelixis, Inc. $EXEL

Teton Advisors LLC bought a new position in Exelixis, Inc. (NASDAQ:EXEL) in the 3rd quarter, HoldingsChannel reports. The fund bought 50,000 shares of the biotechnology company’s stock, valued at approximately $2,065,000. Exelixis accounts for about 1.3% of Teton Advisors LLC’s holdings, making the stock its 22nd largest holding.

Other large investors also recently made changes to their positions in the company. Assetmark Inc. raised its holdings in shares of Exelixis by 1,230.8% during the third quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company’s stock valued at $131,994,000 after buying an additional 2,955,813 shares during the last quarter. Norges Bank bought a new position in Exelixis in the 2nd quarter worth approximately $122,099,000. Qube Research & Technologies Ltd grew its holdings in Exelixis by 120.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock worth $134,306,000 after buying an additional 1,665,110 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Exelixis by 42.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock valued at $231,951,000 after acquiring an additional 1,580,567 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in Exelixis by 153.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock valued at $101,720,000 after acquiring an additional 1,490,520 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. UBS Group set a $41.00 price target on Exelixis in a research note on Monday, January 5th. Barclays lifted their price objective on shares of Exelixis from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 4th. Truist Financial set a $51.00 price objective on shares of Exelixis in a report on Wednesday, January 14th. HC Wainwright increased their target price on shares of Exelixis from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Zacks Research cut shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Ten investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Exelixis currently has a consensus rating of “Hold” and a consensus price target of $46.94.

Insider Buying and Selling

In other news, EVP Dana Aftab sold 47,918 shares of the firm’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 transaction, the executive vice president owned 616,106 shares in the company, valued at approximately $27,416,717. This trade represents a 7.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jack L. Wyszomierski sold 99,574 shares of Exelixis stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total transaction of $4,382,251.74. Following the completion of the transaction, the director directly owned 279,942 shares in the company, valued at $12,320,247.42. This represents a 26.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 362,849 shares of company stock worth $15,917,463 in the last ninety days. Insiders own 2.82% of the company’s stock.

Exelixis Stock Performance

EXEL opened at $41.54 on Friday. The company has a market capitalization of $10.79 billion, a PE ratio of 15.00, a P/E/G ratio of 0.93 and a beta of 0.41. The stock’s fifty day moving average is $43.57 and its 200-day moving average is $41.54. Exelixis, Inc. has a one year low of $32.38 and a one year high of $49.62.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.20. The business had revenue of $598.66 million during the quarter, compared to analysts’ expectations of $609.17 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share. On average, equities research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

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.