Exelixis, Inc. $EXEL Stock Holdings Lessened by Vestcor Inc

Vestcor Inc trimmed its stake in Exelixis, Inc. (NASDAQ:EXEL) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 187,297 shares of the biotechnology company’s stock after selling 18,498 shares during the quarter. Vestcor Inc’s holdings in Exelixis were worth $8,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in EXEL. Farallon Capital Management LLC increased its holdings in Exelixis by 21.6% in the third quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock worth $805,412,000 after buying an additional 3,466,000 shares during the last quarter. Assetmark Inc. increased its holdings in Exelixis by 1,230.8% in the third quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company’s stock worth $131,994,000 after buying an additional 2,955,813 shares during the last quarter. Norges Bank acquired a new position in Exelixis in the fourth quarter worth approximately $106,460,000. AQR Capital Management LLC increased its holdings in Exelixis by 20.7% in the third quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock worth $379,190,000 after buying an additional 1,575,280 shares during the last quarter. Finally, UBS Group AG increased its holdings in Exelixis by 100.1% in the third quarter. UBS Group AG now owns 2,655,069 shares of the biotechnology company’s stock worth $109,654,000 after buying an additional 1,328,087 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on EXEL shares. Wells Fargo & Company increased their price objective on Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. TD Cowen increased their price objective on Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Truist Financial upgraded Exelixis to a “strong-buy” rating in a report on Monday, April 27th. Finally, Zacks Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $47.35.

Exelixis Stock Up 0.4%

Shares of EXEL stock opened at $52.70 on Friday. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $52.98. The business’s 50 day moving average is $46.96 and its two-hundred day moving average is $44.53. The company has a market cap of $13.25 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.51 and a beta of 0.41.

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

Insider Activity at Exelixis

In other Exelixis news, Director George Poste sold 60,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $45.71, for a total transaction of $2,742,600.00. Following the transaction, the director owned 118,832 shares in the company, valued at $5,431,810.72. This trade represents a 33.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Maria C. Freire sold 20,634 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $46.00, for a total value of $949,164.00. Following the transaction, the director owned 100,819 shares in the company, valued at approximately $4,637,674. This trade represents a 16.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 219,170 shares of company stock valued at $10,620,641. 2.60% of the stock is owned by company insiders.

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.