Exelixis, Inc. (NASDAQ:EXEL) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN raised its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 1,637.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 746,286 shares of the biotechnology company's stock after acquiring an additional 703,343 shares during the period. Wells Fargo & Company MN owned about 0.26% of Exelixis worth $24,851,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Tri Ri Asset Management Corp bought a new position in Exelixis during the 3rd quarter valued at approximately $4,396,000. Blue Trust Inc. boosted its position in shares of Exelixis by 134.7% in the 4th quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company's stock worth $476,000 after purchasing an additional 8,208 shares in the last quarter. Range Financial Group LLC bought a new position in Exelixis during the 4th quarter valued at approximately $994,000. Allspring Global Investments Holdings LLC grew its stake in shares of Exelixis by 82.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company's stock worth $52,884,000 after acquiring an additional 704,786 shares during the last quarter. Finally, Inspire Investing LLC boosted its stake in Exelixis by 25.0% in the 4th quarter. Inspire Investing LLC now owns 36,659 shares of the biotechnology company's stock worth $1,221,000 after purchasing an additional 7,331 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Insider Activity at Exelixis

In other news, Director Jack L. Wyszomierski sold 8,768 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $37.80, for a total value of $331,430.40. Following the sale, the director now directly owns 356,605 shares in the company, valued at $13,479,669. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $38.80, for a total transaction of $388,000.00. Following the completion of the sale, the executive vice president now directly owns 341,028 shares in the company, valued at $13,231,886.40. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock valued at $5,177,234 in the last ninety days. Insiders own 2.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Oppenheimer lowered shares of Exelixis from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $41.00 to $33.00 in a report on Friday, January 24th. Barclays lifted their target price on Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a research note on Thursday, February 13th. Piper Sandler increased their price target on Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. UBS Group reaffirmed an "underperform" rating on shares of Exelixis in a research note on Thursday. Finally, BMO Capital Markets cut shares of Exelixis from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from $36.00 to $40.00 in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.59.

Exelixis Trading Up 0.1 %

Exelixis stock traded up $0.04 during midday trading on Friday, reaching $36.19. 2,255,373 shares of the stock traded hands, compared to its average volume of 2,177,726. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $40.02. The company has a 50-day simple moving average of $36.37 and a two-hundred day simple moving average of $34.18. The firm has a market cap of $10.13 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. Equities research analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current 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.