Frank Rimerman Advisors LLC Buys Shares of 6,057 Exelixis, Inc. (NASDAQ:EXEL)

Frank Rimerman Advisors LLC purchased a new position in Exelixis, Inc. (NASDAQ:EXEL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,057 shares of the biotechnology company’s stock, valued at approximately $202,000.

Other institutional investors have also modified their holdings of the company. Principal Securities Inc. grew its stake in shares of Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 373 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Exelixis in the fourth quarter worth $32,000. Kestra Investment Management LLC acquired a new position in shares of Exelixis in the fourth quarter worth $39,000. UMB Bank n.a. grew its stake in shares of Exelixis by 68.4% in the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 553 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of Exelixis by 37.3% in the fourth quarter. V Square Quantitative Management LLC now owns 1,563 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 425 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on EXEL shares. UBS Group boosted their price target on shares of Exelixis from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. BMO Capital Markets downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. Piper Sandler boosted their target price on shares of Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Citigroup boosted their target price on shares of Exelixis from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company downgraded shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 target price for the company. in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.59.

Insider Activity

In related news, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.80, for a total transaction of $388,000.00. Following the completion of the transaction, the executive vice president now directly owns 341,028 shares of the company’s stock, 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 at this link. Also, Director Mary C. Beckerle sold 12,210 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $34.88, for a total transaction of $425,884.80. Following the transaction, the director now directly owns 30,406 shares of the company’s stock, valued at $1,060,561.28. This represents a 28.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 140,343 shares of company stock valued at $5,177,234. Insiders own 2.85% of the company’s stock.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $37.02 on Tuesday. The company has a 50-day simple moving average of $35.44 and a 200-day simple moving average of $32.60. Exelixis, Inc. has a one year low of $20.14 and a one year high of $40.02. The stock has a market capitalization of $10.36 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 1.13 and a beta of 0.57.

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