Harvest Fund Management Co. Ltd Invests $440,000 in Exelixis, Inc. (NASDAQ:EXEL)

Harvest Fund Management Co. Ltd purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 13,202 shares of the biotechnology company’s stock, valued at approximately $440,000.

Several other large investors also recently made changes to their positions in EXEL. Allspring Global Investments Holdings LLC boosted its stake in Exelixis by 82.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock valued at $52,884,000 after purchasing an additional 704,786 shares during the period. Globeflex Capital L P boosted its stake in Exelixis by 203.8% during the 4th quarter. Globeflex Capital L P now owns 975,151 shares of the biotechnology company’s stock valued at $32,473,000 after purchasing an additional 654,200 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in Exelixis during the 3rd quarter valued at approximately $14,979,000. Raymond James Financial Inc. bought a new stake in Exelixis during the 4th quarter valued at approximately $17,046,000. Finally, Burney Co. bought a new stake in Exelixis during the 4th quarter valued at approximately $12,267,000. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction on 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 directly owns 341,028 shares in the company, valued at approximately $13,231,886.40. This trade represents a 2.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher J. Senner sold 29,314 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.14, for a total value of $1,059,407.96. Following the completion of the transaction, the chief financial officer now owns 779,607 shares in the company, valued at $28,174,996.98. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,343 shares of company stock worth $5,177,234. Insiders own 2.85% of the company’s stock.

Exelixis Price Performance

EXEL stock opened at $36.96 on Friday. The business has a fifty day moving average price of $35.61 and a 200 day moving average price of $32.82. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $40.02. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 20.88, a P/E/G ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share 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%. On average, equities analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on EXEL shares. Brookline Capital Management started coverage on Exelixis in a research note on Monday, December 23rd. They set a “buy” rating for the company. Stephens reaffirmed an “equal weight” rating and issued a $29.00 price target on shares of Exelixis in a report on Wednesday, February 12th. Guggenheim reaffirmed a “buy” rating and issued a $42.00 price target on shares of Exelixis in a report on Wednesday, February 12th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Exelixis in a report on Thursday, February 13th. Finally, Royal Bank of Canada upped their price target on Exelixis from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Exelixis currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

Exelixis Company Profile

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.