Moran Wealth Management LLC Sells 1,860 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Moran Wealth Management LLC lowered its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 6.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,086 shares of the biotechnology company’s stock after selling 1,860 shares during the quarter. Moran Wealth Management LLC’s holdings in Exelixis were worth $935,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of EXEL. USA Financial Formulas bought a new stake in shares of Exelixis during the 4th quarter valued at about $32,000. Principal Securities Inc. boosted its holdings in shares of Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after buying an additional 373 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Exelixis during the 4th quarter worth approximately $39,000. Brooklyn Investment Group bought a new stake in shares of Exelixis in the 3rd quarter valued at $42,000. Finally, UMB Bank n.a. increased its stake 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 valued at $45,000 after acquiring an additional 553 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Bob Oliver sold 18,647 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $37.25, for a total value of $694,600.75. Following the sale, the director now directly owns 33,514 shares in the company, valued at $1,248,396.50. The trade was a 35.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the transaction, the executive vice president now owns 341,028 shares of the company’s stock, valued at $13,231,886.40. The trade was a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock worth $5,177,234 over the last three months. 2.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on EXEL. Barclays raised their price target on shares of Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Stephens reaffirmed an “equal weight” rating and issued a $29.00 target price on shares of Exelixis in a research report on Wednesday, February 12th. Stifel Nicolaus upped their price target on Exelixis from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Piper Sandler boosted their price objective on Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and increased their target price for the stock from $35.00 to $39.00 in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Exelixis currently has an average rating of “Moderate Buy” and an average target price of $37.24.

Exelixis Trading Down 5.7 %

Shares of Exelixis stock opened at $36.93 on Wednesday. The firm has a market capitalization of $10.34 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The business’s fifty day simple moving average is $35.18 and its 200 day simple moving average is $32.29. Exelixis, Inc. has a 12 month low of $20.14 and a 12 month high of $40.02.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. Analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Exelixis Company Profile

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.