6,057 Shares in Exelixis, Inc. (NASDAQ:EXEL) Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,057 shares of the biotechnology company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EXEL. Allspring Global Investments Holdings LLC grew its position in Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock worth $52,884,000 after buying an additional 704,786 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in Exelixis during the third quarter worth about $14,979,000. Raymond James Financial Inc. acquired a new position in Exelixis during the fourth quarter worth about $17,046,000. Burney Co. acquired a new position in Exelixis during the fourth quarter worth about $12,267,000. Finally, Los Angeles Capital Management LLC grew its position in Exelixis by 20.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 2,156,996 shares of the biotechnology company’s stock worth $71,828,000 after buying an additional 366,141 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Bob Oliver sold 18,647 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $37.25, for a total value 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 trade represents a 35.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 341,028 shares in the company, valued at approximately $13,231,886.40. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock valued at $5,177,234 over the last quarter. Company insiders own 2.85% of the company’s stock.

Exelixis Stock Up 1.0 %

NASDAQ:EXEL opened at $37.02 on Tuesday. The company has a market cap of $10.36 billion, a P/E ratio of 20.92, 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. The firm’s 50 day moving average is $35.44 and its two-hundred day moving average is $32.60.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results 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%. Research analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EXEL shares. Stephens restated an “equal weight” rating and set a $29.00 target price on shares of Exelixis in a research report on Wednesday, February 12th. Bank of America lowered shares of Exelixis from a “buy” rating to a “neutral” rating and increased their price target for the company from $35.00 to $39.00 in a research report on Tuesday, December 17th. JMP Securities reiterated a “market outperform” rating and issued a $41.00 price target on shares of Exelixis in a research report on Thursday, January 23rd. Morgan Stanley upgraded shares of Exelixis from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $30.00 to $40.00 in a research report on Monday, January 27th. Finally, Barclays increased their price target on shares of Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.59.

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.