Exelixis, Inc. (NASDAQ:EXEL) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE raised its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,214,689 shares of the biotechnology company’s stock after buying an additional 86,307 shares during the period. Bank of America Corp DE owned approximately 0.43% of Exelixis worth $40,449,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of EXEL. Invesco Ltd. increased its stake in Exelixis by 308.1% during the 4th quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company’s stock valued at $132,376,000 after buying an additional 3,001,204 shares during the period. Norges Bank acquired a new position in shares of Exelixis in the 4th quarter worth approximately $94,867,000. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Exelixis by 330.4% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company’s stock worth $82,730,000 after purchasing an additional 1,907,167 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Exelixis by 104.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company’s stock worth $105,208,000 after purchasing an additional 1,613,482 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Exelixis by 25.7% in the 4th quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company’s stock worth $132,101,000 after purchasing an additional 810,857 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Exelixis in a research note on Thursday, March 27th. Wells Fargo & Company reaffirmed a “market outperform” rating on shares of Exelixis in a research note on Thursday, April 17th. Guggenheim reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Exelixis in a research note on Wednesday, February 12th. Truist Financial lifted their price objective on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Barclays lifted their price objective on shares of Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.76.

Exelixis Stock Performance

EXEL stock opened at $46.26 on Friday. The stock has a market cap of $12.75 billion, a P/E ratio of 26.14, a P/E/G ratio of 1.13 and a beta of 0.25. The firm has a 50 day simple moving average of $37.06 and a 200 day simple moving average of $35.68. Exelixis, Inc. has a 52 week low of $20.14 and a 52 week high of $48.85.

Exelixis (NASDAQ:EXEL) last posted its quarterly 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 return on equity of 23.52% and a net margin of 24.04%. Sell-side analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Buying and Selling

In related news, Director Bob Oliver sold 18,647 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $37.25, for a total transaction of $694,600.75. Following the transaction, the director now owns 33,514 shares of the company’s stock, valued at approximately $1,248,396.50. This trade represents a 35.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Haley sold 52,636 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the transaction, the executive vice president now directly owns 303,310 shares in the company, valued at approximately $11,216,403.80. The trade was a 14.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 129,641 shares of company stock worth $4,810,161. 2.82% of the stock is owned by company insiders.

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.