Moran Wealth Management LLC Buys 65,186 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Moran Wealth Management LLC grew its stake in Exelixis, Inc. (NASDAQ:EXEL) by 232.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,272 shares of the biotechnology company’s stock after acquiring an additional 65,186 shares during the period. Moran Wealth Management LLC’s holdings in Exelixis were worth $3,444,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Exelixis by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 29,429,252 shares of the biotechnology company’s stock worth $979,994,000 after purchasing an additional 121,750 shares during the period. LSV Asset Management grew its holdings in Exelixis by 0.8% during the 4th quarter. LSV Asset Management now owns 8,169,847 shares of the biotechnology company’s stock worth $272,056,000 after acquiring an additional 67,470 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Exelixis by 10.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,630,940 shares of the biotechnology company’s stock valued at $254,110,000 after purchasing an additional 708,312 shares in the last quarter. Invesco Ltd. increased its holdings in Exelixis by 308.1% during the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company’s stock valued at $132,376,000 after buying an additional 3,001,204 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Exelixis by 25.7% during the fourth quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company’s stock worth $132,101,000 after buying an additional 810,857 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Trading Down 4.8%

Shares of NASDAQ:EXEL opened at $43.53 on Thursday. Exelixis, Inc. has a twelve month low of $21.82 and a twelve month high of $49.62. The company has a market cap of $11.87 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 0.92 and a beta of 0.28. The company’s 50 day moving average is $40.78 and its 200 day moving average is $37.21.

Analysts Set New Price Targets

Several research firms have issued reports on EXEL. Truist Financial reiterated a “buy” rating and issued a $55.00 target price (up previously from $43.00) on shares of Exelixis in a research note on Monday. Stephens upgraded shares of Exelixis from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $29.00 to $60.00 in a research note on Tuesday. Bank of America lifted their price target on shares of Exelixis from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, June 5th. Morgan Stanley reiterated an “overweight” rating and issued a $47.00 price target (up from $40.00) on shares of Exelixis in a research note on Wednesday, May 14th. Finally, Stifel Nicolaus boosted their price target on Exelixis from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.82.

Insider Transactions at Exelixis

In other news, EVP Patrick J. Haley sold 126,383 shares of Exelixis stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $47.96, for a total transaction of $6,061,328.68. Following the completion of the transaction, the executive vice president now directly owns 446,459 shares of the company’s stock, valued at $21,412,173.64. The trade was a 22.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Senner sold 100,000 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $46.00, for a total transaction of $4,600,000.00. Following the sale, the chief financial officer now directly owns 967,842 shares in the company, valued at $44,520,732. This trade represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 458,113 shares of company stock worth $21,024,817 over the last 90 days. 2.82% of the stock is currently owned by company insiders.

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.