Heron Bay Capital Management Buys 698 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Heron Bay Capital Management grew its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,061 shares of the biotechnology company’s stock after purchasing an additional 698 shares during the period. Heron Bay Capital Management’s holdings in Exelixis were worth $2,333,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB lifted its position in Exelixis by 18.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 290 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Exelixis by 4.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company’s stock valued at $235,000 after acquiring an additional 330 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Exelixis by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 58,159 shares of the biotechnology company’s stock valued at $1,937,000 after acquiring an additional 354 shares during the period. Principal Securities Inc. lifted its position in Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 373 shares during the period. Finally, V Square Quantitative Management LLC lifted its position in Exelixis by 37.3% during the 4th quarter. V Square Quantitative Management LLC now owns 1,563 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 425 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company cut shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a research report on Monday, February 24th. Truist Financial lifted their target price on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Morgan Stanley raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $30.00 to $40.00 in a report on Monday, January 27th. Guggenheim reaffirmed a “buy” rating and issued a $42.00 target price on shares of Exelixis in a report on Wednesday, February 12th. Finally, Oppenheimer cut shares of Exelixis from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $41.00 to $33.00 in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

Insiders Place Their Bets

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $13,231,886.40. This represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Senner sold 29,314 shares of the company’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 transaction, the chief financial officer now owns 779,607 shares of the company’s stock, valued at approximately $28,174,996.98. This represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 company insiders.

Exelixis Trading Down 0.6 %

Shares of NASDAQ EXEL opened at $36.96 on Friday. The firm has a 50 day moving average of $35.61 and a 200 day moving average of $32.86. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $40.02.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (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%. Sell-side 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.