Exelixis, Inc. (NASDAQ:EXEL) Shares Purchased by IFP Advisors Inc

IFP Advisors Inc increased its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 101.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,237 shares of the biotechnology company's stock after purchasing an additional 16,708 shares during the period. IFP Advisors Inc's holdings in Exelixis were worth $1,227,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Impact Partnership Wealth LLC acquired a new position in Exelixis in the 1st quarter valued at $270,000. Allegiance Financial Group Advisory Services LLC acquired a new position in Exelixis in the 1st quarter valued at $305,000. Nwam LLC acquired a new position in Exelixis in the 1st quarter valued at $202,000. Grandfield & Dodd LLC raised its holdings in Exelixis by 20.4% in the 1st quarter. Grandfield & Dodd LLC now owns 26,331 shares of the biotechnology company's stock valued at $972,000 after acquiring an additional 4,465 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Exelixis by 311.3% in the 1st quarter. Victory Capital Management Inc. now owns 344,092 shares of the biotechnology company's stock valued at $12,704,000 after acquiring an additional 260,442 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Trading Up 1.8%

NASDAQ:EXEL traded up $0.81 on Friday, reaching $45.60. The stock had a trading volume of 3,571,221 shares, compared to its average volume of 2,573,794. The company has a 50-day moving average of $43.46 and a 200 day moving average of $38.82. The stock has a market cap of $12.44 billion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 0.91 and a beta of 0.28. Exelixis, Inc. has a 12-month low of $22.80 and a 12-month high of $49.62.

Insider Buying and Selling at Exelixis

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $46.18, for a total transaction of $1,154,500.00. Following the transaction, the executive vice president owned 693,396 shares of the company's stock, valued at approximately $32,021,027.28. This trade represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christopher J. Senner sold 100,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 967,842 shares in the company, valued at $44,520,732. The trade was a 9.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 458,113 shares of company stock valued at $21,024,817. Corporate insiders own 2.82% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on EXEL. Bank of America boosted their price target on Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. Wall Street Zen downgraded Exelixis from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Stifel Nicolaus upped their price objective on Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating in a report on Wednesday, May 14th. Morgan Stanley upped their price objective on Exelixis from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Finally, Guggenheim set a $45.00 price objective on Exelixis and gave the stock a "buy" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $45.33.

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.