BTC Capital Management Inc. Invests $348,000 in Exelixis, Inc. (NASDAQ:EXEL)

BTC Capital Management Inc. acquired a new position in Exelixis, Inc. (NASDAQ:EXEL) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,686 shares of the biotechnology company’s stock, valued at approximately $348,000.

Other institutional investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise increased its holdings in Exelixis by 11.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 7,555 shares of the biotechnology company’s stock worth $179,000 after acquiring an additional 781 shares in the last quarter. Alaska Permanent Fund Corp increased its stake in shares of Exelixis by 1.2% in the first quarter. Alaska Permanent Fund Corp now owns 53,239 shares of the biotechnology company’s stock worth $1,263,000 after purchasing an additional 617 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Exelixis during the 1st quarter valued at $28,000. Los Angeles Capital Management LLC lifted its stake in shares of Exelixis by 948.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock valued at $58,240,000 after buying an additional 2,220,150 shares in the last quarter. Finally, Kapitalo Investimentos Ltda lifted its stake in shares of Exelixis by 45.4% during the 4th quarter. Kapitalo Investimentos Ltda now owns 19,058 shares of the biotechnology company’s stock valued at $457,000 after buying an additional 5,949 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on EXEL. William Blair reissued an “outperform” rating on shares of Exelixis in a report on Wednesday, May 1st. TD Cowen boosted their price target on Exelixis from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 price objective on shares of Exelixis in a report on Wednesday, April 10th. Barclays cut shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a research report on Thursday, April 11th. Finally, TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, March 18th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.13.

Insider Transactions at Exelixis

In related news, Director Jack L. Wyszomierski sold 8,287 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $22.00, for a total value of $182,314.00. Following the sale, the director now directly owns 349,499 shares of the company’s stock, valued at approximately $7,688,978. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director David Edward Johnson purchased 200,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $20.32 per share, for a total transaction of $4,064,000.00. Following the completion of the acquisition, the director now owns 1,300,730 shares in the company, valued at approximately $26,430,833.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack L. Wyszomierski sold 8,287 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $22.00, for a total transaction of $182,314.00. Following the completion of the transaction, the director now directly owns 349,499 shares in the company, valued at approximately $7,688,978. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,896 shares of company stock worth $660,677. 2.85% of the stock is currently owned by insiders.

Exelixis Price Performance

Shares of EXEL stock opened at $22.20 on Friday. The company has a market cap of $6.73 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 0.53 and a beta of 0.56. Exelixis, Inc. has a 1 year low of $18.64 and a 1 year high of $24.34. The stock’s 50 day simple moving average is $21.89 and its two-hundred day simple moving average is $22.33.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.16). Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The company had revenue of $425.23 million for the quarter, compared to analysts’ expectations of $461.04 million. During the same quarter in the previous year, the company posted $0.12 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts expect that Exelixis, Inc. will post 1.15 EPS for the current year.

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.