Harvest Fund Management Co. Ltd Makes New Investment in Exelixis, Inc. (NASDAQ:EXEL)

Harvest Fund Management Co. Ltd purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,202 shares of the biotechnology company’s stock, valued at approximately $440,000.

A number of other institutional investors also recently added to or reduced their stakes in EXEL. Victory Capital Management Inc. boosted its position in Exelixis by 16.6% during the 3rd quarter. Victory Capital Management Inc. now owns 136,178 shares of the biotechnology company’s stock worth $3,534,000 after acquiring an additional 19,372 shares during the period. CIBC Asset Management Inc acquired a new position in Exelixis during the 3rd quarter worth $227,000. Natixis Advisors LLC boosted its position in Exelixis by 26.2% during the 3rd quarter. Natixis Advisors LLC now owns 29,113 shares of the biotechnology company’s stock worth $755,000 after acquiring an additional 6,051 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Exelixis during the 3rd quarter worth $1,972,000. Finally, Advisors Asset Management Inc. boosted its position in Exelixis by 3.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock worth $515,000 after acquiring an additional 609 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Truist Financial upped their price objective on Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 27th. Citigroup upped their price objective on Exelixis from $38.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Guggenheim restated a “buy” rating and issued a $42.00 price objective on shares of Exelixis in a report on Wednesday, February 12th. UBS Group upped their price objective on Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company lowered Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective for the company. in a report on Monday, February 24th. 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 issued a strong buy rating to the company. According to MarketBeat.com, Exelixis presently has an average rating of “Moderate Buy” and a consensus price target of $37.59.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $13,231,886.40. The trade was a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $34.88, for a total value of $425,884.80. Following the sale, the director now owns 30,406 shares of the company’s stock, valued at approximately $1,060,561.28. This trade represents a 28.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock worth $5,177,234 over the last 90 days. 2.85% of the stock is currently owned by corporate insiders.

Exelixis Trading Down 0.6 %

NASDAQ:EXEL opened at $36.96 on Friday. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $40.02. The business’s fifty day moving average price is $35.61 and its 200 day moving average price is $32.82.

Exelixis (NASDAQ:EXEL) last issued 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%. Equities analysts forecast that Exelixis, Inc. will post 2.04 earnings per share 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.