Exelixis, Inc. $EXEL Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System raised its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 555,750 shares of the biotechnology company’s stock after acquiring an additional 36,751 shares during the quarter. California Public Employees Retirement System’s holdings in Exelixis were worth $23,836,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Motiv8 Investments LLC acquired a new stake in shares of Exelixis during the fourth quarter worth $26,000. Acumen Wealth Advisors LLC purchased a new stake in Exelixis in the 4th quarter valued at approximately $29,000. Activest Wealth Management acquired a new position in Exelixis during the 4th quarter worth approximately $32,000. Northwestern Mutual Wealth Management Co. increased its position in Exelixis by 1,380.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 773 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in Exelixis during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Trading Down 2.0%

NASDAQ:EXEL opened at $54.98 on Thursday. The firm has a 50-day moving average price of $52.97 and a two-hundred day moving average price of $47.05. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $57.57. The company has a market capitalization of $13.82 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 1.62 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.12. The company had revenue of $610.81 million for the quarter, compared to the consensus estimate of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 earnings per share. On average, equities research analysts predict that Exelixis, Inc. will post 3.16 earnings per share for the current year.

Analysts Set New Price Targets

EXEL has been the subject of several recent analyst reports. TD Cowen raised their price target on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Royal Bank Of Canada upped their price objective on Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Barclays increased their price objective on Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Morgan Stanley reissued a “positive” rating on shares of Exelixis in a report on Monday, June 22nd. Finally, UBS Group reissued a “buy” rating on shares of Exelixis in a report on Thursday, July 2nd. Ten research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Exelixis presently has an average rating of “Hold” and a consensus price target of $48.80.

Insider Transactions at Exelixis

In other news, Director Jack L. Wyszomierski sold 3,925 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $50.55, for a total value of $198,408.75. Following the sale, the director directly owned 284,384 shares in the company, valued at $14,375,611.20. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sue Gail Eckhardt sold 9,812 shares of Exelixis stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.14, for a total value of $491,973.68. Following the sale, the director owned 16,079 shares of the company’s stock, valued at approximately $806,201.06. This represents a 37.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 219,170 shares of company stock worth $10,620,641 in the last quarter. Insiders own 2.60% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.