Invesco Ltd. Acquires 3,001,204 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Invesco Ltd. increased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 308.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,975,241 shares of the biotechnology company’s stock after acquiring an additional 3,001,204 shares during the period. Invesco Ltd. owned about 1.39% of Exelixis worth $132,376,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC boosted its holdings in Exelixis by 163.9% during the fourth quarter. Cerity Partners LLC now owns 73,884 shares of the biotechnology company’s stock valued at $2,413,000 after purchasing an additional 45,890 shares in the last quarter. FMR LLC lifted its position in shares of Exelixis by 19.7% during the 4th quarter. FMR LLC now owns 2,947,599 shares of the biotechnology company’s stock worth $98,155,000 after buying an additional 485,527 shares during the period. Federated Hermes Inc. boosted its stake in Exelixis by 82.9% in the 4th quarter. Federated Hermes Inc. now owns 408,932 shares of the biotechnology company’s stock valued at $13,637,000 after buying an additional 185,389 shares in the last quarter. Hurley Capital LLC bought a new stake in Exelixis in the fourth quarter valued at $68,000. Finally, Envestnet Asset Management Inc. raised its stake in Exelixis by 17.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 200,228 shares of the biotechnology company’s stock worth $6,668,000 after acquiring an additional 29,892 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling at Exelixis

In related news, CFO Christopher J. Senner sold 29,314 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the sale, the chief financial officer now owns 779,607 shares of the company’s stock, valued at approximately $28,174,996.98. This trade represents a 3.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Patrick J. Haley sold 10,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.80, for a total value of $388,000.00. Following the completion of the transaction, the executive vice president now directly owns 341,028 shares of the company’s stock, valued at approximately $13,231,886.40. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,343 shares of company stock valued at $5,177,234. 2.85% of the stock is currently owned by company insiders.

Exelixis Price Performance

EXEL opened at $35.31 on Friday. The firm has a 50 day simple moving average of $36.16 and a 200 day simple moving average of $33.95. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $40.02. The company has a market cap of $9.88 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last issued 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%. As a group, analysts expect that Exelixis, Inc. will post 2.04 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EXEL shares. StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 19th. Guggenheim reaffirmed a “buy” rating and set a $42.00 price objective on shares of Exelixis in a research note on Wednesday, February 12th. Royal Bank of Canada raised their price objective on shares of Exelixis from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, March 13th. JMP Securities reissued a “market outperform” rating and issued a $41.00 target price on shares of Exelixis in a report on Thursday, January 23rd. Finally, Piper Sandler raised their price target on Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and a consensus target price of $37.59.

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.