Bank of America Corp DE increased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 428.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,505 shares of the biotechnology company’s stock after buying an additional 172,854 shares during the period. Bank of America Corp DE’s holdings in Exelixis were worth $2,871,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Exelixis by 33,678.5% in the first quarter. BlackRock Inc. now owns 19,155,466 shares of the biotechnology company’s stock worth $415,099,000 after buying an additional 19,098,757 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its position in shares of Exelixis by 237.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 5,041,260 shares of the biotechnology company’s stock worth $109,244,000 after buying an additional 3,547,665 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Exelixis by 12.8% in the first quarter. Vanguard Group Inc. now owns 23,735,071 shares of the biotechnology company’s stock worth $514,339,000 after buying an additional 2,696,877 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Exelixis by 167.1% in the first quarter. Wells Fargo & Company MN now owns 1,460,194 shares of the biotechnology company’s stock worth $31,642,000 after buying an additional 913,454 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of Exelixis by 414.8% in the first quarter. OppenheimerFunds Inc. now owns 961,912 shares of the biotechnology company’s stock worth $20,846,000 after buying an additional 775,049 shares in the last quarter. 80.19% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis, Inc. (NASDAQ EXEL) traded down 0.45% on Tuesday, reaching $26.57. 421,780 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $24.89 and a 200-day moving average of $21.88. The company has a market cap of $7.81 billion, a P/E ratio of 138.39 and a beta of 1.89. Exelixis, Inc. has a 12-month low of $9.00 and a 12-month high of $28.45.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The company had revenue of $99.01 million for the quarter, compared to analyst estimates of $85.27 million. During the same period in the prior year, the business posted ($0.15) earnings per share. The firm’s revenue for the quarter was up 173.1% compared to the same quarter last year. Equities analysts expect that Exelixis, Inc. will post $0.25 EPS for the current fiscal year.

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EXEL has been the topic of a number of research reports. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research note on Tuesday, July 4th. Deutsche Bank AG lowered shares of Exelixis from a “buy” rating to a “hold” rating and raised their price target for the company from $26.00 to $29.00 in a research note on Thursday, August 3rd. SunTrust Banks, Inc. initiated coverage on shares of Exelixis in a research note on Thursday, July 13th. They issued a “buy” rating and a $33.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research note on Monday, June 26th. Finally, BidaskClub raised shares of Exelixis from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Exelixis has an average rating of “Buy” and an average price target of $25.57.

In other Exelixis news, Director Carl B. Feldbaum sold 32,988 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $21.58, for a total value of $711,881.04. Following the sale, the director now owns 52,721 shares of the company’s stock, valued at $1,137,719.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Morrissey sold 211,300 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $21.87, for a total transaction of $4,621,131.00. The disclosure for this sale can be found here. Insiders sold 249,288 shares of company stock worth $5,425,312 in the last ninety days. Insiders own 5.10% of the company’s stock.

About Exelixis

Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.

Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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