Penn Capital Management Co. Inc. decreased its stake in Exelixis, Inc. (NASDAQ:EXEL) by 24.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 417,957 shares of the biotechnology company’s stock after selling 137,689 shares during the quarter. Exelixis makes up 1.2% of Penn Capital Management Co. Inc.’s holdings, making the stock its 13th largest position. Penn Capital Management Co. Inc.’s holdings in Exelixis were worth $12,840,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. JOYN Advisors Inc. raised its holdings in Exelixis by 334.2% in the 4th quarter. JOYN Advisors Inc. now owns 1,524 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 1,173 shares during the period. FTB Advisors Inc. raised its holdings in Exelixis by 312.0% in the 4th quarter. FTB Advisors Inc. now owns 1,545 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 1,170 shares during the period. Cornerstone Advisors Inc. acquired a new position in Exelixis in the 4th quarter worth about $38,000. Financial Gravity Companies Inc. acquired a new position in Exelixis in the 4th quarter worth about $50,000. Finally, Nisa Investment Advisors LLC acquired a new position in Exelixis in the 1st quarter worth about $62,000. Hedge funds and other institutional investors own 76.73% of the company’s stock.

In related news, insider Michael Morrissey sold 42,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $20.15, for a total value of $846,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George A. Scangos sold 40,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $19.84, for a total value of $793,600.00. Following the completion of the sale, the director now directly owns 1,248,031 shares of the company’s stock, valued at approximately $24,760,935.04. The disclosure for this sale can be found here. Insiders have sold 1,132,362 shares of company stock valued at $25,317,407 in the last three months. Insiders own 4.50% of the company’s stock.

Shares of Exelixis stock traded down $0.10 during mid-day trading on Wednesday, reaching $19.03. 12,804 shares of the stock traded hands, compared to its average volume of 3,881,946. Exelixis, Inc. has a fifty-two week low of $13.42 and a fifty-two week high of $25.31. The stock has a market capitalization of $5.77 billion, a P/E ratio of 13.29, a PEG ratio of 0.38 and a beta of 2.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.56 and a quick ratio of 7.48.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, May 1st. The biotechnology company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. Exelixis had a return on equity of 37.21% and a net margin of 75.97%. The business had revenue of $215.49 million during the quarter, compared to analysts’ expectations of $206.06 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. As a group, research analysts anticipate that Exelixis, Inc. will post 1.09 EPS for the current fiscal year.

EXEL has been the subject of a number of analyst reports. Cowen reaffirmed a “buy” rating and issued a $29.00 price target on shares of Exelixis in a report on Tuesday, February 26th. BidaskClub raised Exelixis from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Oppenheimer reaffirmed a “buy” rating on shares of Exelixis in a report on Tuesday, March 19th. Morgan Stanley raised Exelixis from an “underweight” rating to an “equal weight” rating and set a $24.80 price target for the company in a report on Monday, March 18th. Finally, ValuEngine raised Exelixis from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $30.11.

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About Exelixis

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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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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