New York State Teachers Retirement System Reduces Stock Position in Exelixis, Inc. $EXEL

New York State Teachers Retirement System decreased its position in Exelixis, Inc. (NASDAQ:EXEL) by 16.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 269,792 shares of the biotechnology company’s stock after selling 52,415 shares during the quarter. New York State Teachers Retirement System’s holdings in Exelixis were worth $11,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Exelixis by 11.2% during the third quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock worth $172,658,000 after acquiring an additional 419,596 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Exelixis by 62.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 187,154 shares of the biotechnology company’s stock valued at $8,224,000 after purchasing an additional 71,987 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in shares of Exelixis by 1.1% during the 4th quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company’s stock worth $111,303,000 after purchasing an additional 28,265 shares during the period. Private Client Services LLC purchased a new stake in shares of Exelixis during the 4th quarter worth about $1,992,000. Finally, Nisa Investment Advisors LLC increased its position in Exelixis by 692.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 140,446 shares of the biotechnology company’s stock worth $6,156,000 after purchasing an additional 122,720 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on EXEL. Citizens Jmp raised their price target on shares of Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a report on Wednesday, June 24th. Barclays boosted their price objective on shares of Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Morgan Stanley reissued a “positive” rating on shares of Exelixis in a research report on Monday, June 22nd. Truist Financial lowered shares of Exelixis from a “buy” rating to a “hold” rating and lifted their target price for the company from $51.00 to $54.00 in a report on Thursday, June 25th. Finally, Stifel Nicolaus upped their price target on shares of Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $47.60.

Insider Buying and Selling at Exelixis

In related news, Director George Poste sold 60,000 shares of Exelixis stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $45.71, for a total transaction of $2,742,600.00. Following the sale, the director owned 118,832 shares of the company’s stock, valued at $5,431,810.72. The trade was a 33.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher J. Senner sold 34,901 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the completion of the transaction, the chief financial officer owned 952,317 shares in the company, valued at $47,615,850. This represents a 3.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 219,170 shares of company stock valued at $10,620,641. 2.60% of the stock is owned by company insiders.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $55.85 on Monday. The business’s 50-day simple moving average is $50.56 and its 200 day simple moving average is $46.00. The company has a market cap of $14.04 billion, a P/E ratio of 18.55, a PEG ratio of 1.61 and a beta of 0.42. Exelixis, Inc. has a one year low of $33.76 and a one year high of $56.21.

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

About Exelixis

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.