Bank of Montreal Can Sells 10,464 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Bank of Montreal Can reduced its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 10.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 93,921 shares of the biotechnology company's stock after selling 10,464 shares during the period. Bank of Montreal Can's holdings in Exelixis were worth $3,128,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EXEL. USA Financial Formulas acquired a new stake in shares of Exelixis in the fourth quarter valued at approximately $32,000. Principal Securities Inc. increased its position in Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock worth $32,000 after buying an additional 373 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Exelixis in the 4th quarter valued at $39,000. UMB Bank n.a. lifted its stake in shares of Exelixis by 68.4% during the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock worth $45,000 after buying an additional 553 shares during the last quarter. Finally, Crowley Wealth Management Inc. acquired a new position in shares of Exelixis in the fourth quarter valued at approximately $50,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EXEL. HC Wainwright reiterated a "buy" rating and issued a $40.00 price target on shares of Exelixis in a research report on Thursday, March 27th. Citigroup upped their target price on Exelixis from $38.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Brookline Capital Management initiated coverage on Exelixis in a report on Monday, December 23rd. They issued a "buy" rating for the company. Barclays upped their price objective on shares of Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a research note on Thursday, February 13th. Finally, Stephens restated an "equal weight" rating and set a $29.00 price target on shares of Exelixis in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.59.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 52,636 shares of Exelixis stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the completion of the transaction, the executive vice president now directly owns 303,310 shares of the company's stock, valued at $11,216,403.80. This trade represents a 14.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mary C. Beckerle sold 12,210 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was 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 in the company, valued at $1,060,561.28. The trade was a 28.65 % 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 three months. 2.85% of the stock is owned by company insiders.

Exelixis Stock Down 1.7 %

Exelixis stock traded down $0.60 during midday trading on Monday, reaching $35.59. The stock had a trading volume of 1,950,240 shares, compared to its average volume of 2,174,477. The firm has a market capitalization of $9.96 billion, a PE ratio of 20.11, a P/E/G ratio of 1.13 and a beta of 0.57. The firm's 50-day moving average price is $36.49 and its 200 day moving average price is $34.42. Exelixis, Inc. has a 12 month low of $20.14 and a 12 month high of $40.02.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results 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 return on equity of 23.52% and a net margin of 24.04%. Equities research analysts expect that Exelixis, Inc. will post 2.04 EPS for the current year.

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.