Greenland Capital Management LP Takes $333,000 Position in Exelixis, Inc. (NASDAQ:EXEL)

Greenland Capital Management LP purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,000 shares of the biotechnology company's stock, valued at approximately $333,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rathbones Group PLC purchased a new position in Exelixis in the fourth quarter worth $216,000. Invesco Ltd. boosted its position in shares of Exelixis by 308.1% in the 4th 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 in the last quarter. Cerity Partners LLC grew its stake in Exelixis by 163.9% during the 4th quarter. Cerity Partners LLC now owns 73,884 shares of the biotechnology company's stock worth $2,413,000 after buying an additional 45,890 shares during the last quarter. FMR LLC increased its position in Exelixis by 19.7% during the 4th quarter. FMR LLC now owns 2,947,599 shares of the biotechnology company's stock valued at $98,155,000 after buying an additional 485,527 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in Exelixis by 82.9% in the fourth quarter. Federated Hermes Inc. now owns 408,932 shares of the biotechnology company's stock valued at $13,637,000 after buying an additional 185,389 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EXEL shares. Morgan Stanley upgraded shares of Exelixis from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $30.00 to $40.00 in a report on Monday, January 27th. StockNews.com upgraded shares of Exelixis from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 19th. Stephens reiterated an "equal weight" rating and set a $29.00 price objective on shares of Exelixis in a research note on Wednesday, February 12th. Royal Bank of Canada upped their target price on Exelixis from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, March 13th. Finally, Bank of America cut Exelixis from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.59.

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Exelixis Stock Up 1.0 %

Shares of Exelixis stock traded up $0.36 during trading hours on Monday, reaching $35.67. 467,613 shares of the company's stock were exchanged, compared to its average volume of 2,168,622. The business has a fifty day moving average of $36.16 and a two-hundred day moving average of $34.01. The company has a market capitalization of $9.98 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a 1 year low of $20.14 and a 1 year high of $40.02.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data 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 return on equity of 23.52% and a net margin of 24.04%. As a group, research analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Activity

In related news, Director Mary C. Beckerle sold 12,210 shares of the firm's 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 in the company, valued at $1,060,561.28. This trade represents a 28.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Patrick J. Haley sold 52,636 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were 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 directly 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,343 shares of company stock valued at $5,177,234. 2.85% of the stock is currently owned by company 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.