Tallon Kerry Patrick Acquires Shares of 77,166 Exelixis, Inc. (NASDAQ:EXEL)

Tallon Kerry Patrick acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 77,166 shares of the biotechnology company’s stock, valued at approximately $2,619,000. Exelixis comprises approximately 2.5% of Tallon Kerry Patrick’s investment portfolio, making the stock its 10th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Exelixis during the third quarter valued at approximately $30,000. USA Financial Formulas bought a new position in shares of Exelixis during the fourth quarter valued at approximately $32,000. Brooklyn Investment Group bought a new position in shares of Exelixis during the third quarter valued at approximately $42,000. Capital Performance Advisors LLP bought a new position in shares of Exelixis during the third quarter valued at approximately $61,000. Finally, Essex Investment Management Co. LLC bought a new position in shares of Exelixis during the third quarter valued at approximately $74,000. Institutional investors own 85.27% of the company’s stock.

Insider Activity at Exelixis

In related news, EVP Dana Aftab sold 96,986 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the sale, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at $17,463,075. This trade represents a 16.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $28.39, for a total value of $709,750.00. Following the sale, the executive vice president now directly owns 580,325 shares in the company, valued at $16,475,426.75. This trade represents a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 314,736 shares of company stock valued at $10,849,110 over the last ninety days. Insiders own 2.85% of the company’s stock.

Exelixis Trading Down 1.9 %

NASDAQ EXEL opened at $36.55 on Friday. Exelixis, Inc. has a 12 month low of $20.01 and a 12 month high of $37.59. The stock has a market cap of $10.44 billion, a P/E ratio of 23.43, a P/E/G ratio of 0.87 and a beta of 0.53. The stock’s fifty day moving average price is $34.95 and its 200-day moving average price is $29.14.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same period in the prior year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, analysts forecast that Exelixis, Inc. will post 1.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on EXEL shares. HC Wainwright upped their target price on Exelixis from $29.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 10th. UBS Group started coverage on Exelixis in a report on Thursday, September 19th. They set a “neutral” rating and a $30.00 target price for the company. JMP Securities upped their target price on Exelixis from $34.00 to $41.00 and gave the company a “market outperform” rating in a report on Wednesday. TD Cowen upped their price target on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company upped their price target on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

Exelixis 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.