CANADA LIFE ASSURANCE Co Sells 46,445 Shares of Exelixis, Inc. (NASDAQ:EXEL)

CANADA LIFE ASSURANCE Co reduced its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 16.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 240,365 shares of the biotechnology company's stock after selling 46,445 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.08% of Exelixis worth $8,003,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its holdings in shares of Exelixis by 113.8% in the fourth quarter. NewEdge Advisors LLC now owns 27,908 shares of the biotechnology company's stock valued at $929,000 after purchasing an additional 14,857 shares in the last quarter. EAM Global Investors LLC acquired a new stake in Exelixis in the 4th quarter valued at approximately $3,615,000. EAM Investors LLC bought a new stake in Exelixis in the 4th quarter valued at approximately $5,920,000. United Capital Financial Advisors LLC acquired a new position in Exelixis during the 4th quarter worth approximately $207,000. Finally, Ontario Teachers Pension Plan Board grew its stake in shares of Exelixis by 32.7% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 47,545 shares of the biotechnology company's stock worth $1,583,000 after acquiring an additional 11,722 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

EXEL has been the topic of a number of research reports. Morgan Stanley raised shares of Exelixis from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $30.00 to $40.00 in a research report on Monday, January 27th. Wells Fargo & Company restated a "market outperform" rating on shares of Exelixis in a research note on Thursday, April 17th. Truist Financial lifted their target price on Exelixis from $42.00 to $43.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Guggenheim reissued a "buy" rating and set a $42.00 price target on shares of Exelixis in a research report on Wednesday, February 12th. Finally, StockNews.com raised Exelixis from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Exelixis presently has an average rating of "Moderate Buy" and an average target price of $37.59.

Exelixis Trading Up 2.7 %

EXEL stock traded up $1.01 during mid-day trading on Monday, hitting $38.44. 2,173,015 shares of the company were exchanged, compared to its average volume of 2,182,098. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $40.02. The stock has a market capitalization of $10.59 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The business has a 50 day simple moving average of $36.75 and a 200-day simple moving average of $34.82.

Exelixis (NASDAQ:EXEL - Get Free Report) last released 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%. Equities research analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insider Activity

In other Exelixis news, Director Mary C. Beckerle sold 12,210 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $34.88, for a total value of $425,884.80. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Patrick J. Haley sold 52,636 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the transaction, the executive vice president now directly owns 303,310 shares in the company, valued at $11,216,403.80. This represents a 14.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,343 shares of company stock valued at $5,177,234. 2.85% of the stock is owned by company insiders.

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.