Group 1: Institutional Investment Activity - Belpointe Asset Management LLC purchased a new stake in Exelixis worth approximately $572,000 during the first quarter [1] - Envestnet Asset Management Inc. increased its position in Exelixis by 23.9%, now owning 248,073 shares valued at $9,159,000 after purchasing an additional 47,845 shares [1] - Intech Investment Management LLC increased its position by 46.4%, now holding 392,022 shares worth $14,473,000 after acquiring an additional 124,297 shares [1] - 85.27% of Exelixis stock is currently owned by hedge funds and other institutional investors [1] Group 2: Analyst Ratings and Price Targets - Truist Financial lowered its price target on Exelixis from $56.00 to $49.00 while maintaining a "buy" rating [2] - Morgan Stanley reduced its price target from $50.00 to $44.00, assigning an "overweight" rating [2] - Guggenheim reiterated a "buy" rating with a price target of $45.00 [2] - Leerink Partners upgraded Exelixis from "market perform" to "outperform" with a price target of $48.00 [2] - The average rating for Exelixis is "Moderate Buy" with a consensus price target of $44.53 [2] Group 3: Stock Performance and Financial Metrics - Exelixis shares opened at $38.67, with a market cap of $10.41 billion [3] - The stock has a P/E ratio of 18.59 and a PEG ratio of 0.79 [3] - Exelixis has a 52-week low of $31.90 and a high of $49.62 [3] Group 4: Company Overview - Exelixis, Inc. focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the U.S. [4] - The company offers CABOMETYX for advanced renal cell carcinoma and COMETRIQ for progressive and metastatic medullary thyroid cancer [4]