Monarch Partners Asset Management LLC Purchases New Position in Exelixis, Inc. (EXEL)
Monarch Partners Asset Management LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 102,497 shares of the biotechnology company’s stock, valued at approximately $2,439,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. lifted its stake in Exelixis by 1.6% during the fourth quarter. BlackRock Inc. now owns 30,584,751 shares of the biotechnology company’s stock worth $601,600,000 after purchasing an additional 490,747 shares during the period. Vanguard Group Inc lifted its stake in Exelixis by 3.2% during the third quarter. Vanguard Group Inc now owns 26,527,089 shares of the biotechnology company’s stock worth $470,060,000 after purchasing an additional 834,478 shares during the period. JPMorgan Chase & Co. lifted its stake in Exelixis by 10.1% during the first quarter. JPMorgan Chase & Co. now owns 9,938,985 shares of the biotechnology company’s stock worth $236,548,000 after purchasing an additional 910,147 shares during the period. First Trust Advisors LP lifted its stake in Exelixis by 19.5% during the fourth quarter. First Trust Advisors LP now owns 5,551,138 shares of the biotechnology company’s stock worth $109,191,000 after purchasing an additional 907,412 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Exelixis by 20.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,743,157 shares of the biotechnology company’s stock worth $73,628,000 after purchasing an additional 643,023 shares during the period. Hedge funds and other institutional investors own 78.70% of the company’s stock.
Shares of Exelixis stock traded up $0.59 during midday trading on Friday, reaching $20.36. The company had a trading volume of 2,112,495 shares, compared to its average volume of 3,651,939. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.56 and a quick ratio of 7.48. The firm has a market cap of $6.14 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.48 and a beta of 2.06. Exelixis, Inc. has a 1-year low of $13.42 and a 1-year high of $25.31.
In other Exelixis news, Director George A. Scangos sold 5,000 shares of Exelixis stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $25.03, for a total transaction of $125,150.00. Following the completion of the sale, the director now owns 1,278,031 shares of the company’s stock, valued at approximately $31,989,115.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Morrissey sold 42,000 shares of Exelixis stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $20.15, for a total transaction of $846,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 652,432 shares of company stock valued at $14,761,712 in the last ninety days. Company insiders own 4.50% of the company’s stock.
EXEL has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Exelixis from a “buy” rating to a “hold” rating in a research note on Monday, February 11th. Oppenheimer cut their target price on shares of Exelixis from $40.00 to $31.00 and set an “outperform” rating for the company in a research note on Wednesday, February 13th. BMO Capital Markets started coverage on shares of Exelixis in a research note on Friday, February 22nd. They issued a “market perform” rating and a $23.00 target price for the company. Cowen reissued a “buy” rating and issued a $29.00 price target on shares of Exelixis in a report on Tuesday, February 26th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $48.00 price target on shares of Exelixis in a report on Friday, March 1st. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Exelixis presently has an average rating of “Buy” and a consensus target price of $30.11.
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Exelixis Company 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's products include 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 patients with progressive and metastatic medullary thyroid cancer.
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