CANADA LIFE ASSURANCE Co Has $8 Million Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

CANADA LIFE ASSURANCE Co reduced its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 16.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 240,365 shares of the biotechnology company's stock after selling 46,445 shares during the period. CANADA LIFE ASSURANCE Co owned 0.08% of Exelixis worth $8,003,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in EXEL. Invesco Ltd. increased its position in Exelixis by 308.1% in the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company's stock worth $132,376,000 after purchasing an additional 3,001,204 shares during the period. Norges Bank bought a new position in shares of Exelixis in the 4th quarter valued at about $94,867,000. Arrowstreet Capital Limited Partnership grew its position in shares of Exelixis by 104.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company's stock worth $105,208,000 after buying an additional 1,613,482 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Exelixis by 82.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company's stock worth $52,884,000 after buying an additional 704,786 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Exelixis by 1,637.9% during the fourth quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company's stock worth $24,851,000 after buying an additional 703,343 shares during the last quarter. Institutional investors own 85.27% of the company's stock.

Exelixis Stock Up 2.5 %

NASDAQ:EXEL opened at $36.48 on Wednesday. The company has a market cap of $10.21 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $40.02. The business has a 50 day moving average price of $36.53 and a two-hundred day moving average price of $34.43.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. As a group, analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on EXEL shares. Morgan Stanley raised shares of Exelixis from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $30.00 to $40.00 in a report on Monday, January 27th. Piper Sandler upped their price objective on Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. HC Wainwright reissued a "buy" rating and issued a $40.00 target price on shares of Exelixis in a research note on Thursday, March 27th. Royal Bank of Canada boosted their target price on Exelixis from $38.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, March 13th. Finally, Stifel Nicolaus increased their price target on shares of Exelixis from $30.00 to $36.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $37.59.

Insider Activity at Exelixis

In related news, Director Mary C. Beckerle sold 12,210 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $34.88, for a total value of $425,884.80. Following the completion of the transaction, the director now directly owns 30,406 shares of the company's stock, valued at approximately $1,060,561.28. This trade represents a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $38.80, for a total transaction of $388,000.00. Following the sale, the executive vice president now directly owns 341,028 shares in the company, valued at $13,231,886.40. This trade represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,343 shares of company stock valued at $5,177,234. 2.85% of the stock is owned by insiders.

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.

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