State of New Jersey Common Pension Fund D Has $3.31 Million Position in Exelixis, Inc. (NASDAQ:EXEL)

State of New Jersey Common Pension Fund D decreased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 7.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 99,467 shares of the biotechnology company’s stock after selling 8,118 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Exelixis were worth $3,312,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of EXEL. MassMutual Private Wealth & Trust FSB raised its position in shares of Exelixis by 18.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 290 shares during the last quarter. Covestor Ltd raised its holdings in Exelixis by 5.7% during the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after purchasing an additional 341 shares during the last quarter. Principal Securities Inc. lifted its position in Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 373 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of Exelixis by 37.3% in the 4th quarter. V Square Quantitative Management LLC now owns 1,563 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 425 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Exelixis by 16.1% during the 4th quarter. Fifth Third Bancorp now owns 3,231 shares of the biotechnology company’s stock worth $108,000 after buying an additional 449 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. BMO Capital Markets cut shares of Exelixis from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $36.00 to $40.00 in a research note on Friday, December 20th. Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $35.00 to $39.00 in a research note on Tuesday, December 17th. Wells Fargo & Company increased their target price on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Brookline Capital Management assumed coverage on Exelixis in a research report on Monday, December 23rd. They set a “buy” rating for the company. Finally, Morgan Stanley upgraded shares of Exelixis from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $30.00 to $40.00 in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.24.

Insider Activity at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares in the company, valued at $17,823,783.53. The trade was a 10.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the sale, the executive vice president now owns 278,665 shares of the company’s stock, valued at approximately $9,828,514.55. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,210 shares of company stock worth $2,978,785 in the last ninety days. 2.85% of the stock is owned by company insiders.

Exelixis Price Performance

Shares of Exelixis stock opened at $35.07 on Thursday. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.13 and a beta of 0.53. The business has a fifty day simple moving average of $34.16 and a two-hundred day simple moving average of $31.11. Exelixis, Inc. has a 1 year low of $20.14 and a 1 year high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. As a group, equities analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

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.