Prudential PLC Makes New Investment in Exelixis, Inc. (NASDAQ:EXEL)

Prudential PLC 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 13F filing with the SEC. The institutional investor purchased 33,574 shares of the biotechnology company's stock, valued at approximately $1,118,000.

Other hedge funds also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its holdings in Exelixis by 18.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company's stock valued at $63,000 after purchasing an additional 290 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in Exelixis by 4.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company's stock valued at $235,000 after buying an additional 330 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Exelixis by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 58,159 shares of the biotechnology company's stock worth $1,937,000 after acquiring an additional 354 shares during the period. Principal Securities Inc. lifted its position in Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 373 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in Exelixis by 37.3% during the fourth quarter. V Square Quantitative Management LLC now owns 1,563 shares of the biotechnology company's stock valued at $52,000 after acquiring an additional 425 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

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Insiders Place Their Bets

In related news, Director Jack L. Wyszomierski sold 8,768 shares of Exelixis stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $37.80, for a total transaction of $331,430.40. Following the transaction, the director now owns 356,605 shares of the company's stock, valued at $13,479,669. This trade represents a 2.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick J. Haley sold 10,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $38.80, for a total transaction of $388,000.00. Following the completion of the sale, the executive vice president now directly owns 341,028 shares of the company's stock, valued at $13,231,886.40. The trade was a 2.85 % decrease in their position. 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.

Analyst Ratings Changes

EXEL has been the subject of several research reports. Stifel Nicolaus increased their price objective on Exelixis from $30.00 to $36.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. Citigroup raised their price target on shares of Exelixis from $38.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. 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 research report on Wednesday, February 12th. Barclays boosted their price target on Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a research note on Thursday, February 13th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $41.00 price target on shares of Exelixis in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Exelixis currently has a consensus rating of "Moderate Buy" and an average price target of $37.59.

Exelixis Trading Up 2.5 %

Shares of Exelixis stock traded up $0.85 during midday trading on Friday, reaching $35.31. The company had a trading volume of 2,146,139 shares, compared to its average volume of 2,175,271. The stock has a fifty day simple moving average of $36.16 and a 200 day simple moving average of $34.01. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $40.02. The company has a market capitalization of $9.88 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL - Get Free Report) last released 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 net margin of 24.04% and a return on equity of 23.52%. Sell-side analysts expect 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.