Vestcor Inc Buys 92,211 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Vestcor Inc grew its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 166.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 147,517 shares of the biotechnology company’s stock after buying an additional 92,211 shares during the quarter. Vestcor Inc owned 0.05% of Exelixis worth $5,446,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Coppell Advisory Solutions LLC bought a new position in Exelixis in the fourth quarter valued at $25,000. Colonial Trust Co SC boosted its holdings in shares of Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 765 shares in the last quarter. Bartlett & CO. Wealth Management LLC bought a new position in shares of Exelixis during the 1st quarter valued at about $37,000. Hurley Capital LLC bought a new position in shares of Exelixis during the 4th quarter valued at about $68,000. Finally, True Wealth Design LLC raised its holdings in shares of Exelixis by 222.3% during the 4th quarter. True Wealth Design LLC now owns 2,253 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 1,554 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Down 0.2%

Shares of Exelixis stock opened at $36.85 on Thursday. The company has a market cap of $9.92 billion, a PE ratio of 17.72, a P/E/G ratio of 0.73 and a beta of 0.28. The business has a 50 day moving average of $43.17 and a 200 day moving average of $38.88. Exelixis, Inc. has a 52 week low of $23.13 and a 52 week high of $49.62.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The business had revenue of $568.26 million for the quarter, compared to the consensus estimate of $574.36 million. During the same period in the previous year, the firm earned $0.84 EPS. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. On average, research analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EXEL shares. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research note on Tuesday. Barclays upped their price objective on shares of Exelixis from $29.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. UBS Group decreased their target price on shares of Exelixis from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday. Stifel Nicolaus upped their price target on shares of Exelixis from $38.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Bank of America raised their price objective on Exelixis from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, June 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.44.

Insider Buying and Selling

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $46.18, for a total transaction of $1,154,500.00. Following the sale, the executive vice president directly owned 693,396 shares of the company’s stock, valued at approximately $32,021,027.28. The trade was a 3.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Patrick J. Haley sold 126,383 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $47.96, for a total value of $6,061,328.68. Following the completion of the transaction, the executive vice president directly owned 446,459 shares of the company’s stock, valued at $21,412,173.64. This represents a 22.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 456,605 shares of company stock valued at $20,966,005 over the last quarter. 2.82% of the stock is currently owned by 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.