PNC Financial Services Group Inc. Acquires 1,029 Shares of Exelixis, Inc. (NASDAQ:EXEL)

PNC Financial Services Group Inc. increased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,005 shares of the biotechnology company’s stock after purchasing an additional 1,029 shares during the period. PNC Financial Services Group Inc.’s holdings in Exelixis were worth $702,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its position in Exelixis by 32.2% in the 1st quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company’s stock valued at $201,000 after buying an additional 1,328 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Exelixis in the 4th quarter valued at approximately $17,046,000. Park Avenue Securities LLC raised its position in Exelixis by 10.6% in the 1st quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company’s stock valued at $272,000 after buying an additional 707 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Exelixis by 23.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company’s stock valued at $9,159,000 after buying an additional 47,845 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in Exelixis in the 1st quarter valued at approximately $233,000. Institutional investors own 85.27% of the company’s stock.

Insider Activity at Exelixis

In other news, CFO Christopher J. Senner sold 100,000 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $46.00, for a total transaction of $4,600,000.00. Following the completion of the transaction, the chief financial officer owned 967,842 shares of the company’s stock, valued at approximately $44,520,732. The trade was a 9.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 126,383 shares of Exelixis stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $47.96, for a total value of $6,061,328.68. Following the sale, the executive vice president directly owned 446,459 shares in the company, valued at $21,412,173.64. The trade was a 22.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 446,605 shares of company stock worth $20,539,205 in the last three months. Insiders own 2.85% of the company’s stock.

Wall Street Analyst Weigh In

EXEL has been the topic of a number of recent research reports. Barclays lifted their target price on Exelixis from $29.00 to $40.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Morgan Stanley dropped their target price on Exelixis from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 29th. Benchmark reaffirmed a “neutral” rating on shares of Exelixis in a research report on Monday, June 23rd. UBS Group set a $38.00 price target on Exelixis and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Finally, HC Wainwright set a $46.00 price target on Exelixis and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.06.

Exelixis Price Performance

EXEL opened at $37.95 on Wednesday. The business has a fifty day simple moving average of $42.20 and a 200 day simple moving average of $39.03. The company has a market capitalization of $10.22 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 0.78 and a beta of 0.29. Exelixis, Inc. has a 1 year low of $25.12 and a 1 year high of $49.62.

Exelixis (NASDAQ:EXEL) last released its earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. Exelixis had a return on equity of 27.47% and a net margin of 27.01%. The firm had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. During the same period in the prior year, the company posted $0.84 EPS. The company’s revenue was down 10.8% compared to the same quarter last year. Equities analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

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.