Cibc World Market Inc. Purchases 31,985 Shares of Exelixis, Inc. $EXEL

Cibc World Market Inc. grew its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 462.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,904 shares of the biotechnology company’s stock after purchasing an additional 31,985 shares during the quarter. Cibc World Market Inc.’s holdings in Exelixis were worth $1,705,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Anchor Investment Management LLC grew its position in Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 500 shares during the last quarter. Activest Wealth Management bought a new position in Exelixis during the 4th quarter worth approximately $32,000. Northwestern Mutual Wealth Management Co. grew its position in Exelixis by 1,380.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 773 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Exelixis during the 4th quarter worth approximately $44,000. Finally, Abich Financial Wealth Management LLC bought a new position in Exelixis during the 3rd quarter worth approximately $47,000. 85.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays raised their price target on Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research report on Tuesday, May 19th. HC Wainwright raised their price target on Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Royal Bank Of Canada reduced their price target on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Finally, Truist Financial upgraded Exelixis to a “strong-buy” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Exelixis currently has a consensus rating of “Hold” and a consensus target price of $47.35.

Exelixis Stock Performance

Shares of EXEL stock opened at $52.99 on Wednesday. The firm has a market cap of $13.32 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.49 and a beta of 0.41. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $53.28. The business’s 50 day moving average price is $47.38 and its 200-day moving average price is $44.68.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. The firm had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $0.55 EPS. As a group, equities analysts predict that Exelixis, Inc. will post 3.16 EPS for the current year.

Insider Transactions at Exelixis

In other news, EVP Patrick J. Haley sold 32,110 shares of Exelixis stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total value of $1,599,399.10. Following the sale, the executive vice president directly owned 357,638 shares in the company, valued at approximately $17,813,948.78. This trade represents a 8.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sue Gail Eckhardt sold 9,812 shares of Exelixis stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $50.14, for a total value of $491,973.68. Following the completion of the sale, the director owned 16,079 shares in the company, valued at approximately $806,201.06. This represents a 37.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 219,170 shares of company stock worth $10,620,641. Corporate insiders own 2.60% of the company’s stock.

Exelixis Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.