Exelixis, Inc. $EXEL Stake Raised by South Street Advisors LLC

South Street Advisors LLC raised its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 127.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 426,181 shares of the biotechnology company’s stock after acquiring an additional 239,166 shares during the quarter. Exelixis accounts for about 2.3% of South Street Advisors LLC’s portfolio, making the stock its 21st biggest holding. South Street Advisors LLC owned 0.16% of Exelixis worth $17,601,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Richardson Financial Services Inc. raised its holdings in shares of Exelixis by 95.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 292 shares in the last quarter. Root Financial Partners LLC bought a new stake in Exelixis during the third quarter worth approximately $28,000. Luminist Capital LLC boosted its holdings in Exelixis by 2,740.0% during the second quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after buying an additional 685 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in Exelixis in the third quarter worth approximately $47,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Exelixis in the second quarter worth approximately $60,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Stock Performance

Exelixis stock opened at $41.24 on Friday. Exelixis, Inc. has a 52 week low of $32.38 and a 52 week high of $49.62. The firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 0.92 and a beta of 0.41. The company has a 50 day moving average price of $43.31 and a 200 day moving average price of $41.66.

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

Analyst Ratings Changes

EXEL has been the subject of a number of recent research reports. Stifel Nicolaus increased their price objective on Exelixis from $43.00 to $44.00 and gave the company a “hold” rating in a research report on Wednesday, February 11th. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday. Royal Bank Of Canada cut their target price on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. HC Wainwright upped their target price on Exelixis from $52.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, Wolfe Research started coverage on Exelixis in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Ten research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.94.

Insider Buying and Selling at Exelixis

In related news, Director Jack L. Wyszomierski sold 99,574 shares of the company’s stock in a transaction 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 transaction, the director directly owned 279,942 shares of the company’s stock, valued at approximately $12,320,247.42. The trade was a 26.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 67,814 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $43.52, for a total value of $2,951,265.28. Following the completion of the sale, the executive vice president directly owned 381,908 shares of the company’s stock, valued at approximately $16,620,636.16. This represents a 15.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 362,849 shares of company stock valued at $15,917,463 in the last ninety days. Company insiders own 2.82% of the company’s stock.

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.