511,879 Shares in Exelixis, Inc. (NASDAQ:EXEL) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 511,879 shares of the biotechnology company’s stock, valued at approximately $17,046,000. Raymond James Financial Inc. owned approximately 0.18% of Exelixis at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Tri Ri Asset Management Corp purchased a new position in shares of Exelixis in the third quarter valued at $4,396,000. Blue Trust Inc. grew its stake in shares of Exelixis by 134.7% in the 4th quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company’s stock worth $476,000 after buying an additional 8,208 shares in the last quarter. Range Financial Group LLC bought a new stake in shares of Exelixis in the 4th quarter worth about $994,000. Allspring Global Investments Holdings LLC raised its position in shares of Exelixis by 82.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock valued at $52,884,000 after buying an additional 704,786 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Exelixis by 25.0% in the 4th quarter. Inspire Investing LLC now owns 36,659 shares of the biotechnology company’s stock valued at $1,221,000 after acquiring an additional 7,331 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EXEL. Brookline Capital Management initiated coverage on Exelixis in a research note on Monday, December 23rd. They set a “buy” rating on the stock. Barclays increased 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. Morgan Stanley raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $30.00 to $40.00 in a research note on Monday, January 27th. Piper Sandler raised their target price on shares of Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company reiterated a “market outperform” rating on shares of Exelixis in a report on Thursday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

Exelixis Price Performance

EXEL stock opened at $36.19 on Monday. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $40.02. The business has a 50-day moving average price of $36.44 and a 200 day moving average price of $34.36. The company has a market capitalization of $10.13 billion, a P/E ratio of 20.45, a PEG ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. On average, analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In other news, Director Mary C. Beckerle sold 12,210 shares of Exelixis stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $34.88, for a total value of $425,884.80. Following the transaction, the director now owns 30,406 shares of the company’s stock, valued at $1,060,561.28. The trade was a 28.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Haley sold 10,000 shares of the 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 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 three months, insiders sold 140,343 shares of company stock valued at $5,177,234. Corporate insiders own 2.85% of the company’s stock.

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.