666,837 Shares in Exelixis, Inc. (NASDAQ:EXEL) Bought by abrdn plc

abrdn plc acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 666,837 shares of the biotechnology company's stock, valued at approximately $15,997,000. abrdn plc owned about 0.21% of Exelixis at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of EXEL. Calamos Advisors LLC bought a new position in Exelixis in the fourth quarter valued at about $1,629,000. Federated Hermes Inc. boosted its holdings in Exelixis by 6.7% during the fourth quarter. Federated Hermes Inc. now owns 192,165 shares of the biotechnology company's stock worth $4,610,000 after buying an additional 12,118 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Exelixis by 9.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,240 shares of the biotechnology company's stock valued at $1,445,000 after purchasing an additional 4,994 shares in the last quarter. Mackenzie Financial Corp increased its stake in Exelixis by 3.6% in the fourth quarter. Mackenzie Financial Corp now owns 224,409 shares of the biotechnology company's stock valued at $5,384,000 after purchasing an additional 7,823 shares in the last quarter. Finally, Strs Ohio raised its holdings in Exelixis by 9.2% in the fourth quarter. Strs Ohio now owns 91,447 shares of the biotechnology company's stock worth $2,193,000 after purchasing an additional 7,679 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Price Performance

NASDAQ EXEL traded down $0.18 on Thursday, hitting $23.53. 1,429,751 shares of the stock were exchanged, compared to its average volume of 2,264,538. The company has a market capitalization of $6.94 billion, a PE ratio of 37.05, a P/E/G ratio of 0.62 and a beta of 0.54. The business's fifty day moving average is $22.67 and its 200 day moving average is $22.16. Exelixis, Inc. has a 52 week low of $18.08 and a 52 week high of $24.34.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. Exelixis had a net margin of 11.35% and a return on equity of 8.57%. The company had revenue of $479.65 million for the quarter, compared to analyst estimates of $481.23 million. Analysts predict that Exelixis, Inc. will post 1.21 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director David Edward Johnson bought 190,000 shares of Exelixis stock in a transaction dated Wednesday, February 21st. The stock was bought at an average cost of $20.70 per share, for a total transaction of $3,933,000.00. Following the purchase, the director now owns 1,100,730 shares of the company's stock, valued at approximately $22,785,111. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Patrick J. Haley sold 47,020 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the completion of the sale, the executive vice president now owns 384,866 shares in the company, valued at $8,255,375.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David Edward Johnson bought 190,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average price of $20.70 per share, for a total transaction of $3,933,000.00. Following the purchase, the director now owns 1,100,730 shares of the company's stock, valued at approximately $22,785,111. The disclosure for this purchase can be found here. Corporate insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Royal Bank of Canada raised their price objective on Exelixis from $26.00 to $28.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 7th. Barclays cut Exelixis from an "overweight" rating to an "equal weight" rating and set a $25.00 target price for the company. in a research note on Thursday, April 11th. Stifel Nicolaus upped their price target on shares of Exelixis from $23.00 to $25.00 and gave the company a "hold" rating in a report on Friday, February 2nd. William Blair restated an "outperform" rating on shares of Exelixis in a report on Friday, January 26th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $27.00 target price on shares of Exelixis in a research note on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $26.29.

Exelixis Company 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.