Forum Financial Management LP Purchases New Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Forum Financial Management LP purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,244 shares of the biotechnology company's stock, valued at approximately $241,000.

Several other institutional investors have also recently made changes to their positions in the stock. USA Financial Formulas bought a new position in shares of Exelixis in the fourth quarter valued at $32,000. Principal Securities Inc. lifted its stake in Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 373 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Exelixis in the 4th quarter valued at about $39,000. UMB Bank n.a. increased 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 purchasing an additional 553 shares during the last quarter. Finally, Crowley Wealth Management Inc. bought a new stake in shares of Exelixis in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EXEL. Wells Fargo & Company reiterated a "market outperform" rating on shares of Exelixis in a report on Thursday, April 17th. Stifel Nicolaus boosted their target price on Exelixis from $30.00 to $36.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Barclays raised their price target on Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. Piper Sandler upped their price objective on shares of Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Finally, UBS Group restated an "underperform" rating on shares of Exelixis in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.59.

Insider Transactions at Exelixis

In other Exelixis news, 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 transaction of $1,946,479.28. Following the completion of the transaction, the executive vice president now owns 303,310 shares of the company's stock, valued at approximately $11,216,403.80. The trade was a 14.79 % 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 the SEC website. Also, Director Bob Oliver sold 18,647 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $37.25, for a total transaction of $694,600.75. Following the transaction, the director now owns 33,514 shares of the company's stock, valued at approximately $1,248,396.50. This represents a 35.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,343 shares of company stock valued at $5,177,234. Company insiders own 2.85% of the company's stock.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $36.48 on Wednesday. The business has a fifty day moving average price of $36.53 and a two-hundred day moving average price of $34.43. The stock has a market capitalization of $10.21 billion, a PE ratio of 20.61, a P/E/G ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $40.02.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS 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%. On average, equities analysts expect that Exelixis, Inc. will post 2.04 EPS for the current year.

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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