IFP Advisors Inc Acquires 4,110 Shares of Exelixis, Inc. (NASDAQ:EXEL)

IFP Advisors Inc raised its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 33.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,529 shares of the biotechnology company’s stock after buying an additional 4,110 shares during the quarter. IFP Advisors Inc’s holdings in Exelixis were worth $550,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Y Intercept Hong Kong Ltd grew its position in shares of Exelixis by 322.0% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 56,522 shares of the biotechnology company’s stock worth $1,882,000 after buying an additional 43,129 shares during the last quarter. Navellier & Associates Inc. boosted its position in shares of Exelixis by 41.3% during the fourth quarter. Navellier & Associates Inc. now owns 31,179 shares of the biotechnology company’s stock valued at $1,038,000 after purchasing an additional 9,109 shares in the last quarter. Morningstar Investment Management LLC bought a new stake in shares of Exelixis during the fourth quarter valued at approximately $221,000. Ieq Capital LLC bought a new stake in shares of Exelixis during the fourth quarter valued at approximately $6,466,000. Finally, Convergence Investment Partners LLC bought a new stake in shares of Exelixis during the fourth quarter valued at approximately $782,000. 85.27% of the stock is currently owned by institutional investors.

Insider Activity at Exelixis

In other Exelixis news, Director Jack L. Wyszomierski sold 8,768 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $37.80, for a total transaction of $331,430.40. Following the completion of the sale, the director now owns 356,605 shares of the company’s stock, valued at approximately $13,479,669. The trade was a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 52,636 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.98, for a total value of $1,946,479.28. Following the sale, the executive vice president now directly owns 303,310 shares of the company’s stock, valued at $11,216,403.80. This represents a 14.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,343 shares of company stock worth $4,789,234. 2.85% of the stock is owned by insiders.

Exelixis Stock Performance

Exelixis stock opened at $38.69 on Friday. The stock has a market cap of $10.83 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.13 and a beta of 0.53. Exelixis, Inc. has a one year low of $20.14 and a one year high of $38.72. The stock has a fifty day moving average of $34.53 and a 200 day moving average of $31.62.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data 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%. As a group, sell-side analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on EXEL. Barclays lifted their price target on Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. Bank of America lowered Exelixis from a “buy” rating to a “neutral” rating and lifted their price target for the company from $35.00 to $39.00 in a research report on Tuesday, December 17th. Truist Financial lifted their price target on Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Oppenheimer cut Exelixis from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $41.00 to $33.00 in a research note on Friday, January 24th. Finally, Morgan Stanley upgraded Exelixis from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $30.00 to $40.00 in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, eight have assigned 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.24.

About Exelixis

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.