Texas Permanent School Fund Corp Cuts Position in Exelixis, Inc. (NASDAQ:EXEL)

Texas Permanent School Fund Corp reduced its position in Exelixis, Inc. (NASDAQ:EXELFree Report) by 5.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 270,398 shares of the biotechnology company’s stock after selling 16,321 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Exelixis were worth $5,908,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Canada Pension Plan Investment Board lifted its holdings in shares of Exelixis by 0.6% during the third quarter. Canada Pension Plan Investment Board now owns 214,900 shares of the biotechnology company’s stock worth $4,696,000 after purchasing an additional 1,200 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Exelixis by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,335,640 shares of the biotechnology company’s stock worth $72,884,000 after purchasing an additional 58,320 shares during the period. First Eagle Investment Management LLC acquired a new stake in shares of Exelixis during the third quarter worth $551,000. NewEdge Wealth LLC acquired a new stake in shares of Exelixis during the third quarter worth $10,238,000. Finally, Swiss National Bank lifted its holdings in shares of Exelixis by 1.4% during the third quarter. Swiss National Bank now owns 644,200 shares of the biotechnology company’s stock worth $14,076,000 after purchasing an additional 9,200 shares during the period. 93.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXEL has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their target price on Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a report on Friday, February 2nd. BTIG Research initiated coverage on Exelixis in a report on Tuesday, December 19th. They issued a “buy” rating and a $27.00 target price for the company. Morgan Stanley raised their target price on Exelixis from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Barclays raised their target price on Exelixis from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Finally, Royal Bank of Canada raised their target price on Exelixis from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.94.

Read Our Latest Research Report on Exelixis

Insider Buying and Selling

In related news, Director David Edward Johnson acquired 120,409 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was purchased at an average price of $21.61 per share, for a total transaction of $2,602,038.49. Following the transaction, the director now owns 910,730 shares in the company, valued at approximately $19,680,875.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Exelixis news, Director David Edward Johnson purchased 120,409 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were purchased at an average cost of $21.61 per share, with a total value of $2,602,038.49. Following the purchase, the director now owns 910,730 shares in the company, valued at $19,680,875.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Haley sold 50,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $23.35, for a total value of $1,167,500.00. Following the completion of the sale, the executive vice president now directly owns 307,687 shares in the company, valued at $7,184,491.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,149 shares of company stock worth $2,587,603. 2.90% of the stock is owned by corporate insiders.

Exelixis Trading Up 0.2 %

Exelixis stock opened at $20.22 on Monday. The stock has a market cap of $6.13 billion, a PE ratio of 31.59, a P/E/G ratio of 0.53 and a beta of 0.53. The stock has a 50-day moving average price of $22.65 and a 200 day moving average price of $21.79. Exelixis, Inc. has a 52 week low of $16.15 and a 52 week high of $24.34.

About Exelixis

(Free Report)

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines 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.

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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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