Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 3.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 107,585 shares of the biotechnology company’s stock after selling 3,947 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Exelixis were worth $2,792,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in Exelixis in the third quarter valued at $30,000. Park Place Capital Corp purchased a new stake in Exelixis during the second quarter worth approximately $45,000. GAMMA Investing LLC boosted its holdings in Exelixis by 107.9% in the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 1,041 shares in the last quarter. EntryPoint Capital LLC increased its stake in Exelixis by 537.2% in the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 1,746 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Exelixis in the third quarter valued at approximately $61,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Trading Down 1.8 %

Shares of EXEL opened at $35.19 on Thursday. Exelixis, Inc. has a 12-month low of $19.20 and a 12-month high of $36.60. The stock has a market cap of $10.05 billion, a P/E ratio of 22.56, a PEG ratio of 0.91 and a beta of 0.51. The company has a 50-day moving average of $28.67 and a two-hundred day moving average of $24.99.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. As a group, analysts forecast that Exelixis, Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EXEL shares. Truist Financial upped their target price on shares of Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price target on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Guggenheim raised their target price on shares of Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. HC Wainwright reissued a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research report on Wednesday, September 18th. Finally, BMO Capital Markets upped their target price on shares of Exelixis from $29.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.44.

Insider Activity

In related news, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director George Poste sold 30,000 shares of Exelixis stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the sale, the director now owns 169,020 shares of the company’s stock, valued at $5,746,680. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dana Aftab sold 1,162 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the transaction, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 248,148 shares of company stock worth $8,042,547 over the last three months. 2.85% of the stock is currently owned by corporate insiders.

Exelixis 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.