Entropy Technologies LP Invests $475,000 in Exelixis, Inc. (NASDAQ:EXEL)

Entropy Technologies LP purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,300 shares of the biotechnology company’s stock, valued at approximately $475,000.

Several other institutional investors have also recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new stake in Exelixis during the 3rd quarter worth about $30,000. Park Place Capital Corp bought a new stake in shares of Exelixis during the second quarter worth approximately $45,000. GAMMA Investing LLC lifted its holdings in Exelixis by 107.9% in the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 1,041 shares during the period. EntryPoint Capital LLC boosted its stake in Exelixis by 537.2% in the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 1,746 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Exelixis during the 3rd quarter worth $61,000. Institutional investors own 85.27% of the company’s stock.

Insider Activity at Exelixis

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the sale, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $25.79, for a total transaction of $515,800.00. Following the transaction, the executive vice president now owns 630,325 shares in the company, valued at $16,256,081.75. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 248,148 shares of company stock valued at $8,042,547. Insiders own 2.85% of the company’s stock.

Exelixis Stock Down 1.7 %

Shares of EXEL opened at $34.45 on Friday. The company has a 50 day moving average of $29.04 and a 200-day moving average of $25.14. The stock has a market capitalization of $9.84 billion, a P/E ratio of 22.08, a P/E/G ratio of 0.89 and a beta of 0.51. Exelixis, Inc. has a twelve month low of $19.20 and a twelve month high of $36.60.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. On average, sell-side analysts anticipate that Exelixis, Inc. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Truist Financial lifted their price objective on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets upped their price target on Exelixis from $29.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JMP Securities reissued a “market outperform” rating and set a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $34.00 target price on shares of Exelixis in a research note on Wednesday, October 30th. Finally, Stephens boosted their price target on shares of Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.44.

About Exelixis

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.