Bayforest Capital Ltd Acquires Shares of 25,240 Exelixis, Inc. (NASDAQ:EXEL)

Bayforest Capital Ltd acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 25,240 shares of the biotechnology company's stock, valued at approximately $932,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Coppell Advisory Solutions LLC bought a new stake in Exelixis during the fourth quarter worth $25,000. Colonial Trust Co SC raised its position in shares of Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after acquiring an additional 765 shares in the last quarter. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Exelixis during the 1st quarter valued at $37,000. Hurley Capital LLC acquired a new position in shares of Exelixis during the fourth quarter valued at about $68,000. Finally, True Wealth Design LLC raised its position in Exelixis by 222.3% in the 4th quarter. True Wealth Design LLC now owns 2,253 shares of the biotechnology company's stock valued at $75,000 after buying an additional 1,554 shares during the last quarter. Institutional investors own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EXEL shares. Wells Fargo & Company restated a "market outperform" rating on shares of Exelixis in a research note on Thursday, April 17th. Truist Financial dropped their price objective on Exelixis from $56.00 to $49.00 and set a "buy" rating for the company in a research note on Tuesday. Royal Bank Of Canada cut their price objective on Exelixis from $50.00 to $45.00 and set a "sector perform" rating for the company in a report on Tuesday. William Blair reaffirmed an "outperform" rating on shares of Exelixis in a research note on Tuesday. Finally, Bank of America raised 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $44.44.

Insider Activity at Exelixis

In other news, CMO Amy C. Peterson sold 72,776 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $45.47, for a total value of $3,309,124.72. Following the completion of the sale, the chief marketing officer directly owned 465,393 shares of the company's stock, valued at $21,161,419.71. This trade represents a 13.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $46.18, for a total transaction of $1,154,500.00. Following the completion of the sale, the executive vice president directly owned 693,396 shares of the company's stock, valued at approximately $32,021,027.28. The trade was a 3.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 456,605 shares of company stock valued at $20,966,005 in the last 90 days. 2.82% of the stock is currently owned by insiders.

Exelixis Stock Up 2.9%

NASDAQ EXEL traded up $1.04 during trading hours on Friday, reaching $37.26. The company's stock had a trading volume of 5,660,958 shares, compared to its average volume of 3,091,694. Exelixis, Inc. has a 1 year low of $23.21 and a 1 year high of $49.62. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 0.74 and a beta of 0.28. The firm's 50-day moving average price is $43.03 and its 200-day moving average price is $38.89.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.12. The firm had revenue of $568.26 million during the quarter, compared to analyst estimates of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. Exelixis's revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. Equities research analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal 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.