Globeflex Capital L P Boosts Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Globeflex Capital L P raised its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 203.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 975,151 shares of the biotechnology company's stock after buying an additional 654,200 shares during the quarter. Exelixis makes up about 2.8% of Globeflex Capital L P's investment portfolio, making the stock its 6th largest holding. Globeflex Capital L P owned about 0.34% of Exelixis worth $32,473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. USA Financial Formulas bought a new position in shares of Exelixis in the fourth quarter valued at approximately $32,000. Principal Securities Inc. boosted its holdings in Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock worth $32,000 after buying an additional 373 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Exelixis in the fourth quarter worth approximately $39,000. Brooklyn Investment Group acquired a new stake in shares of Exelixis during the 3rd quarter valued at $42,000. Finally, UMB Bank n.a. boosted its stake in shares of Exelixis by 68.4% during the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock worth $45,000 after acquiring an additional 553 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Exelixis

In other news, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction dated Monday, March 3rd. The shares were 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 approximately $13,231,886.40. The trade was a 2.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $34.88, for a total transaction 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 $1,060,561.28. This trade represents a 28.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,343 shares of company stock worth $5,177,234. 2.85% of the stock is owned by corporate insiders.

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Wall Street Analyst Weigh In

Several research firms have recently weighed in on EXEL. Royal Bank of Canada lifted their target price on shares of Exelixis from $38.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday. Wells Fargo & Company downgraded Exelixis from an "overweight" rating to an "equal weight" rating and set a $36.00 target price on the stock. in a report on Monday, February 24th. Piper Sandler upped their price target on shares of Exelixis from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Truist Financial boosted their target price on Exelixis from $42.00 to $43.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Finally, Oppenheimer cut shares of Exelixis from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $41.00 to $33.00 in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $37.59.

Exelixis Stock Performance

Shares of NASDAQ:EXEL traded up $0.37 on Monday, hitting $37.02. 1,553,573 shares of the company were exchanged, compared to its average volume of 2,071,728. The company's 50 day moving average price is $35.36 and its two-hundred day moving average price is $32.53. The firm has a market capitalization of $10.36 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a one year low of $20.14 and a one year high of $40.02.

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

Exelixis Company 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.