Exelixis, Inc. (NASDAQ:EXEL) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. increased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 891,985 shares of the biotechnology company's stock after purchasing an additional 97,342 shares during the period. Franklin Resources Inc. owned approximately 0.31% of Exelixis worth $29,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Principal Securities Inc. boosted its stake in shares of Exelixis by 62.8% in 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 during the last quarter. USA Financial Formulas acquired a new position in shares of Exelixis in the 4th quarter valued at $32,000. Kestra Investment Management LLC purchased a new stake in Exelixis during the fourth quarter worth $39,000. UMB Bank n.a. increased its holdings in Exelixis by 68.4% in the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock valued at $45,000 after buying an additional 553 shares in the last quarter. Finally, Crowley Wealth Management Inc. purchased a new stake in shares of Exelixis during the 4th quarter worth about $50,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Down 3.7 %

Shares of NASDAQ EXEL traded down $1.31 during trading on Thursday, hitting $34.03. 518,548 shares of the company traded hands, compared to its average volume of 2,163,549. The firm has a market capitalization of $9.52 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.13 and a beta of 0.57. The company has a 50-day moving average price of $36.09 and a 200-day moving average price of $33.83. Exelixis, Inc. has a 1 year low of $20.14 and a 1 year high of $40.02.

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Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates 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 EPS for the current fiscal year.

Insider Activity

In other news, Director Mary C. Beckerle sold 12,210 shares of Exelixis 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 sale, the director now directly owns 30,406 shares of the company's stock, valued at approximately $1,060,561.28. The trade was a 28.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 52,636 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $36.98, for a total value of $1,946,479.28. Following the completion of the transaction, the executive vice president now owns 303,310 shares in the company, valued at approximately $11,216,403.80. This trade represents a 14.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock worth $5,177,234 over the last 90 days. Company insiders own 2.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EXEL shares. Wells Fargo & Company downgraded Exelixis from an "overweight" rating to an "equal weight" rating and set a $36.00 price target on the stock. in a research report on Monday, February 24th. Stifel Nicolaus lifted their target price 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. Guggenheim reaffirmed a "buy" rating and issued a $42.00 price target on shares of Exelixis in a research note on Wednesday, February 12th. Brookline Capital Management started coverage on Exelixis in a research report on Monday, December 23rd. They set a "buy" rating for the company. Finally, Royal Bank of Canada raised their target price on shares of Exelixis from $38.00 to $40.00 and gave the stock an "outperform" rating in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.59.

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.