Phocas Financial Corp. Buys 149,047 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Phocas Financial Corp. increased its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 106.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 288,824 shares of the biotechnology company’s stock after acquiring an additional 149,047 shares during the quarter. Phocas Financial Corp. owned about 0.09% of Exelixis worth $5,519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allworth Financial LP lifted its position in Exelixis by 323.3% during the first quarter. Allworth Financial LP now owns 1,342 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 1,025 shares during the last quarter. Covestor Ltd lifted its position in Exelixis by 245.6% during the first quarter. Covestor Ltd now owns 1,676 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 1,191 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Exelixis by 129.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,697 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 1,521 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Exelixis by 46.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 710 shares during the last quarter. Finally, Belpointe Asset Management LLC bought a new stake in shares of Exelixis in the 4th quarter worth about $50,000. Institutional investors own 93.09% of the company’s stock.

Insider Activity

In other news, CFO Christopher J. Senner sold 60,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $20.51, for a total value of $1,230,600.00. Following the sale, the chief financial officer now directly owns 571,631 shares of the company’s stock, valued at approximately $11,724,151.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Jeffrey Hessekiel sold 55,710 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $19.63, for a total transaction of $1,093,587.30. Following the sale, the executive vice president now directly owns 571,976 shares of the company’s stock, valued at $11,227,888.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Senner sold 60,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $20.51, for a total transaction of $1,230,600.00. Following the sale, the chief financial officer now directly owns 571,631 shares in the company, valued at $11,724,151.81. The disclosure for this sale can be found here. Insiders have sold 150,863 shares of company stock valued at $3,059,080 in the last ninety days. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EXEL. SVB Leerink began coverage on shares of Exelixis in a report on Tuesday, August 8th. They issued a “market perform” rating and a $18.00 target price for the company. Morgan Stanley raised their target price on shares of Exelixis from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $23.00 price target on shares of Exelixis in a research note on Wednesday, September 13th. StockNews.com initiated coverage on shares of Exelixis in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Truist Financial reaffirmed a “buy” rating and issued a $32.00 price target on shares of Exelixis in a research note on Wednesday, September 13th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.73.

Exelixis Price Performance

NASDAQ:EXEL traded up $0.10 during trading hours on Tuesday, hitting $21.45. 594,345 shares of the company were exchanged, compared to its average volume of 2,733,246. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 42.06, a PEG ratio of 1.49 and a beta of 0.67. Exelixis, Inc. has a 52-week low of $14.87 and a 52-week high of $22.80. The company’s 50 day moving average price is $20.97 and its 200-day moving average price is $19.66.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, August 1st. The biotechnology company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.15 by $0.10. The business had revenue of $469.85 million for the quarter, compared to the consensus estimate of $448.59 million. Exelixis had a net margin of 9.58% and a return on equity of 6.53%. On average, equities analysts predict that Exelixis, Inc. will post 0.71 earnings per share for the current year.

Exelixis Profile

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines 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.