Exelixis, Inc. (NASDAQ:EXEL) Stake Reduced by IMA Wealth Inc.

IMA Wealth Inc. lowered its stake in Exelixis, Inc. (NASDAQ:EXEL) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,680 shares of the biotechnology company’s stock after selling 15,037 shares during the quarter. Exelixis makes up 2.2% of IMA Wealth Inc.’s investment portfolio, making the stock its 11th largest holding. IMA Wealth Inc.’s holdings in Exelixis were worth $4,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of EXEL. Acadian Asset Management LLC increased its stake in Exelixis by 1,043.9% in the 3rd quarter. Acadian Asset Management LLC now owns 1,957,848 shares of the biotechnology company’s stock worth $42,750,000 after purchasing an additional 1,786,687 shares in the last quarter. abrdn plc purchased a new position in Exelixis in the 4th quarter worth about $15,997,000. California Public Employees Retirement System increased its stake in Exelixis by 42.3% in the 3rd quarter. California Public Employees Retirement System now owns 1,771,128 shares of the biotechnology company’s stock worth $38,699,000 after purchasing an additional 526,814 shares in the last quarter. NewEdge Wealth LLC purchased a new position in Exelixis in the 3rd quarter worth about $10,238,000. Finally, Braun Stacey Associates Inc. purchased a new position in Exelixis in the 4th quarter worth about $10,414,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In related news, Director Alan M. Garber sold 19,205 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the sale, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Alan M. Garber sold 19,205 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the sale, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Edward Johnson bought 190,000 shares of Exelixis stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average price of $20.70 per share, with a total value of $3,933,000.00. Following the completion of the acquisition, the director now owns 1,100,730 shares in the company, 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.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EXEL. Barclays cut Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a research note on Thursday, April 11th. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research note on Friday, January 26th. Royal Bank of Canada lifted their target price on Exelixis from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Stifel Nicolaus lifted their target price on Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, February 2nd. Finally, TheStreet raised Exelixis from a “c+” rating to a “b-” rating in a research note on Monday, March 18th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.29.

Exelixis Stock Performance

Shares of Exelixis stock traded up $0.17 during trading on Friday, hitting $23.70. 1,560,811 shares of the stock traded hands, compared to its average volume of 1,843,234. The stock has a market cap of $6.99 billion, a P/E ratio of 37.03, a PEG ratio of 0.61 and a beta of 0.54. Exelixis, Inc. has a twelve month low of $18.08 and a twelve month high of $24.34. The company has a fifty day moving average price of $22.80 and a two-hundred day moving average price of $22.18.

Exelixis (NASDAQ:EXEL) last posted its earnings results 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 return on equity of 8.57% and a net margin of 11.35%. The firm had revenue of $479.65 million during the quarter, compared to analyst estimates of $481.23 million. On average, equities research analysts expect that Exelixis, Inc. will post 1.24 EPS for the current fiscal 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.