Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its stake in Exelixis, Inc. (NASDAQ:EXEL) by 32.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,752 shares of the biotechnology company’s stock after selling 54,561 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Exelixis were worth $2,952,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in Exelixis during the second quarter valued at about $489,000. Blue Trust Inc. increased its position in Exelixis by 81.4% during the 2nd quarter. Blue Trust Inc. now owns 3,953 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 1,774 shares in the last quarter. Raymond James & Associates raised its holdings in Exelixis by 1.2% in the second quarter. Raymond James & Associates now owns 109,856 shares of the biotechnology company’s stock valued at $2,468,000 after buying an additional 1,328 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in Exelixis during the second quarter valued at approximately $216,000. Finally, Retirement Systems of Alabama grew its stake in Exelixis by 92.1% during the second quarter. Retirement Systems of Alabama now owns 731,476 shares of the biotechnology company’s stock worth $16,436,000 after buying an additional 350,740 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Price Performance

Exelixis stock opened at $36.07 on Tuesday. Exelixis, Inc. has a 12 month low of $19.20 and a 12 month high of $36.97. The company has a fifty day moving average price of $32.85 and a two-hundred day moving average price of $27.29. The company has a market cap of $10.30 billion, a PE ratio of 23.12, a P/E/G ratio of 0.89 and a beta of 0.52.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same period in the previous year, the business posted $0.10 EPS. The company’s quarterly revenue was up 14.3% on a year-over-year basis. Equities research analysts anticipate that Exelixis, Inc. will post 1.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Guggenheim raised their target price on shares of Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets raised their price objective on Exelixis from $29.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. UBS Group began coverage on Exelixis in a research report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $34.00 target price on shares of Exelixis in a report on Wednesday, October 30th. Finally, Piper Sandler upped their price target on Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Exelixis presently has an average rating of “Moderate Buy” and an average price target of $31.47.

Insider Transactions at Exelixis

In related news, EVP Dana Aftab sold 1,162 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the sale, the executive vice president now owns 498,945 shares of the company’s stock, valued at $15,666,873. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 339,736 shares of company stock worth $11,508,610. 2.85% of the stock is currently owned by company insiders.

About Exelixis

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.