Sawgrass Asset Management LLC Takes Position in Exelixis, Inc. (NASDAQ:EXEL)

Sawgrass Asset Management LLC acquired a new position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 221,862 shares of the biotechnology company's stock, valued at approximately $8,191,000. Sawgrass Asset Management LLC owned approximately 0.08% of Exelixis as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Coppell Advisory Solutions LLC acquired a new stake in Exelixis in the fourth quarter valued at about $25,000. Colonial Trust Co SC increased its position in shares of 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 buying an additional 765 shares during the period. Principal Securities Inc. raised its position in shares of Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 373 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Exelixis in the fourth quarter worth approximately $39,000. Finally, Crowley Wealth Management Inc. bought a new stake in shares of Exelixis in the 4th quarter valued at $50,000. 85.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Dana Aftab sold 1,508 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $39.00, for a total transaction of $58,812.00. Following the transaction, the executive vice president now directly owns 693,181 shares of the company's stock, valued at approximately $27,034,059. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George Poste sold 20,634 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $45.99, for a total value of $948,957.66. Following the completion of the sale, the director now directly owns 169,020 shares of the company's stock, valued at $7,773,229.80. The trade was a 10.88% 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 valued at $21,024,817 over the last three months. 2.85% of the stock is owned by company insiders.

Analyst Ratings Changes

EXEL has been the subject of a number of research analyst reports. Truist Financial reaffirmed a "buy" rating and issued a $55.00 target price (up from $43.00) on shares of Exelixis in a research report on Monday. Bank of America boosted their target price on Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. UBS Group restated an "underperform" rating on shares of Exelixis in a research report on Thursday, April 17th. Guggenheim set a $45.00 target price on Exelixis and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Stifel Nicolaus lifted their target price on shares of Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating in a research note on Wednesday, May 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $42.82.

Exelixis Price Performance

EXEL stock traded up $2.35 during mid-day trading on Tuesday, hitting $45.72. 6,331,469 shares of the stock were exchanged, compared to its average volume of 2,423,414. The business has a fifty day moving average price of $40.64 and a 200 day moving average price of $37.17. Exelixis, Inc. has a 12 month low of $21.82 and a 12 month high of $49.62. The stock has a market capitalization of $12.47 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 0.88 and a beta of 0.28.

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.