IMA Wealth Inc. Has $4.43 Million Stake in Exelixis, Inc. (NASDAQ:EXEL)

IMA Wealth Inc. lessened its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,680 shares of the biotechnology company’s stock after selling 15,037 shares during the period. Exelixis makes up approximately 2.2% of IMA Wealth Inc.’s portfolio, making the stock its 11th biggest holding. IMA Wealth Inc. owned 0.06% of Exelixis worth $4,430,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXEL. Contravisory Investment Management Inc. purchased a new position in shares of Exelixis in the 4th quarter worth approximately $26,000. GAMMA Investing LLC purchased a new position in shares of Exelixis in the 4th quarter worth approximately $27,000. Denali Advisors LLC raised its holdings in shares of Exelixis by 7,995.2% in the 3rd quarter. Denali Advisors LLC now owns 1,700 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 1,679 shares during the period. Fifth Third Bancorp raised its holdings in shares of Exelixis by 44.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,970 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 604 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Exelixis by 17.1% in the 3rd quarter. Signaturefd LLC now owns 4,577 shares of the biotechnology company’s stock worth $100,000 after purchasing an additional 668 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on EXEL shares. Stifel Nicolaus lifted their price target on shares of Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, February 2nd. TheStreet raised shares of Exelixis from a “c+” rating to a “b-” rating in a report on Monday, March 18th. Royal Bank of Canada lifted their price target on shares of Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. JMP Securities reissued a “market outperform” rating and set a $27.00 target price on shares of Exelixis in a report on Wednesday, April 10th. Finally, Barclays cut shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a report on Thursday, April 11th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.29.

Insiders Place Their Bets

In other Exelixis news, Director David Edward Johnson acquired 190,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was acquired at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the purchase, the director now directly owns 1,100,730 shares of the company’s stock, valued at approximately $22,785,111. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Exelixis news, Director Alan M. Garber sold 19,205 shares of Exelixis stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the transaction, the director now directly owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Edward Johnson acquired 190,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was acquired at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the completion of the purchase, the director now directly owns 1,100,730 shares in the company, valued at $22,785,111. The disclosure for this purchase can be found here. Corporate insiders own 2.90% of the company’s stock.

Exelixis Price Performance

Shares of EXEL stock traded up $0.17 on Friday, hitting $23.70. 1,560,811 shares of the stock traded hands, compared to its average volume of 1,843,234. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 0.61 and a beta of 0.54. Exelixis, Inc. has a 52 week low of $18.08 and a 52 week high of $24.34. The firm has a 50 day simple moving average of $22.80 and a two-hundred day simple moving average of $22.18.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $479.65 million for the quarter, compared to the consensus estimate of $481.23 million. Exelixis had a net margin of 11.35% and a return on equity of 8.57%. Sell-side analysts forecast that Exelixis, Inc. will post 1.24 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.