Exelixis, Inc. (NASDAQ:EXEL) Shares Acquired by KBC Group NV

KBC Group NV grew its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 63.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,221 shares of the biotechnology company's stock after purchasing an additional 6,707 shares during the quarter. KBC Group NV's holdings in Exelixis were worth $636,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Coppell Advisory Solutions LLC acquired a new stake in Exelixis during the fourth quarter worth approximately $25,000. Colonial Trust Co SC boosted its position in Exelixis by 616.9% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after acquiring an additional 765 shares during the last quarter. Bartlett & CO. Wealth Management LLC acquired a new stake in Exelixis during the first quarter worth approximately $37,000. Crowley Wealth Management Inc. acquired a new stake in Exelixis during the fourth quarter worth approximately $50,000. Finally, Hurley Capital LLC acquired a new stake in Exelixis during the fourth quarter worth approximately $68,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. JMP Securities raised their target price on shares of Exelixis from $47.00 to $50.00 and gave the stock a "market outperform" rating in a research report on Monday, June 23rd. Morgan Stanley reiterated an "overweight" rating and issued a $47.00 price target (up previously from $40.00) on shares of Exelixis in a report on Wednesday, May 14th. Stephens upgraded shares of Exelixis from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $29.00 to $60.00 in a report on Tuesday, June 24th. Bank of America lifted their price target on shares of Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. Finally, Wells Fargo & Company reiterated a "market outperform" rating on shares of Exelixis in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.56.

Insider Activity

In other news, CMO Amy C. Peterson sold 72,776 shares of the business's stock in a transaction dated Friday, May 16th. The shares were 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 owned 465,393 shares of the company's stock, valued at approximately $21,161,419.71. The trade was a 13.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack L. Wyszomierski sold 7,535 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $43.09, for a total transaction of $324,683.15. Following the completion of the sale, the director directly owned 358,882 shares of the company's stock, valued at $15,464,225.38. The trade was a 2.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 458,113 shares of company stock worth $21,024,817 over the last three months. 2.82% of the stock is currently owned by corporate insiders.

Exelixis Price Performance

Exelixis stock opened at $45.91 on Friday. Exelixis, Inc. has a 12-month low of $21.86 and a 12-month high of $49.62. The company has a market capitalization of $12.52 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 0.93 and a beta of 0.28. The firm's fifty day moving average price is $41.88 and its 200 day moving average price is $37.65.

Exelixis 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.

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