Parallel Advisors LLC Grows Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Parallel Advisors LLC boosted its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 14.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,664 shares of the biotechnology company’s stock after purchasing an additional 1,469 shares during the quarter. Parallel Advisors LLC’s holdings in Exelixis were worth $388,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB increased its stake in shares of Exelixis by 18.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after buying an additional 290 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Exelixis by 4.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company’s stock valued at $235,000 after purchasing an additional 330 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Exelixis by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 58,159 shares of the biotechnology company’s stock valued at $1,937,000 after purchasing an additional 354 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 373 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of Exelixis by 37.3% during the fourth quarter. V Square Quantitative Management LLC now owns 1,563 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 425 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Trading Down 0.6 %

Exelixis stock opened at $36.96 on Friday. The stock has a 50 day moving average of $35.61 and a two-hundred day moving average of $32.82. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $40.02. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. Equities analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insider Transactions at Exelixis

In related news, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.80, for a total transaction of $388,000.00. Following the completion of the transaction, the executive vice president now directly owns 341,028 shares of the company’s stock, valued at $13,231,886.40. This represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mary C. Beckerle sold 12,210 shares of Exelixis stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $34.88, for a total value of $425,884.80. Following the completion of the sale, the director now directly owns 30,406 shares in the company, valued at $1,060,561.28. This represents a 28.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,343 shares of company stock worth $5,177,234. Company insiders own 2.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on EXEL. Guggenheim restated a “buy” rating and issued a $42.00 price target on shares of Exelixis in a research note on Wednesday, February 12th. Citigroup boosted their target price on Exelixis from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. BMO Capital Markets lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and increased their price target for the company from $36.00 to $40.00 in a research note on Friday, December 20th. Morgan Stanley upgraded shares of Exelixis from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $30.00 to $40.00 in a research report on Monday, January 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Exelixis in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.59.

Exelixis Company Profile

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.