Proficio Capital Partners LLC Makes New Investment in Exelixis, Inc. (NASDAQ:EXEL)

Proficio Capital Partners LLC acquired a new position in Exelixis, Inc. (NASDAQ:EXEL) during the fourth quarter, Holdings Channel.com reports. The firm acquired 21,212 shares of the biotechnology company’s stock, valued at approximately $706,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. USA Financial Formulas bought a new stake in shares of Exelixis in the 4th quarter worth about $32,000. Principal Securities Inc. increased its position in shares of Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 373 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Exelixis in the 4th quarter worth about $39,000. Brooklyn Investment Group bought a new stake in shares of Exelixis in the 3rd quarter worth about $42,000. Finally, UMB Bank n.a. increased its position in shares of Exelixis by 68.4% in the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 553 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on EXEL. Guggenheim reissued a “buy” rating and issued a $42.00 target price on shares of Exelixis in a research report on Wednesday, February 12th. HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Exelixis in a research report on Thursday, February 13th. Royal Bank of Canada boosted their price objective on shares of Exelixis from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, March 13th. Piper Sandler boosted their price objective on shares of Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $30.00 to $40.00 in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

Insider Activity

In other news, EVP Patrick J. Haley sold 52,636 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $36.98, for a total value of $1,946,479.28. Following the completion of the transaction, the executive vice president now directly owns 303,310 shares in the company, valued at $11,216,403.80. This trade represents a 14.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bob Oliver sold 18,647 shares of the 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 completion of the transaction, the director now owns 33,514 shares of the company’s stock, valued at $1,248,396.50. This trade represents a 35.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,343 shares of company stock worth $5,177,234 over the last three months. Corporate insiders own 2.85% of the company’s stock.

Exelixis Trading Down 0.6 %

Shares of NASDAQ:EXEL opened at $36.96 on Friday. The firm’s 50 day moving average is $35.61 and its two-hundred day moving average is $32.86. Exelixis, Inc. has a 52 week low of $20.14 and a 52 week high of $40.02. The firm has a market capitalization of $10.34 billion, a P/E ratio of 20.88, a PEG ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last announced 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 net margin of 24.04% and a return on equity of 23.52%. Analysts predict that Exelixis, Inc. will post 2.04 EPS 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.