QRG Capital Management Inc. Has $1.20 Million Position in Exelixis, Inc. (NASDAQ:EXEL)

QRG Capital Management Inc. trimmed its position in Exelixis, Inc. (NASDAQ:EXEL) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,883 shares of the biotechnology company’s stock after selling 5,983 shares during the quarter. QRG Capital Management Inc.’s holdings in Exelixis were worth $1,197,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EXEL. Charles Schwab Investment Management Inc. increased its position in shares of Exelixis by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,364,480 shares of the biotechnology company’s stock worth $80,714,000 after purchasing an additional 28,840 shares during the period. FMR LLC lifted its holdings in shares of Exelixis by 9.3% in the third quarter. FMR LLC now owns 2,884,424 shares of the biotechnology company’s stock worth $63,025,000 after acquiring an additional 246,605 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Exelixis by 10.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,266,932 shares of the biotechnology company’s stock valued at $49,489,000 after purchasing an additional 218,757 shares during the last quarter. AQR Capital Management LLC increased its position in Exelixis by 6.0% during the 3rd quarter. AQR Capital Management LLC now owns 2,015,838 shares of the biotechnology company’s stock worth $44,046,000 after purchasing an additional 114,267 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Exelixis by 11.5% in the 4th quarter. California Public Employees Retirement System now owns 1,974,291 shares of the biotechnology company’s stock valued at $47,363,000 after purchasing an additional 203,163 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the transaction, the director now owns 35,703 shares in the company, valued at approximately $857,229.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total transaction of $461,112.05. Following the completion of the sale, the director now owns 35,703 shares in the company, valued at approximately $857,229.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Patrick J. Haley sold 47,020 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.45, for a total value of $1,008,579.00. Following the completion of the transaction, the executive vice president now owns 384,866 shares in the company, valued at approximately $8,255,375.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,148 shares of company stock worth $1,703,116. 2.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EXEL shares. Barclays downgraded Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a report on Thursday, April 11th. Stephens began coverage on shares of Exelixis in a research report on Tuesday. They set an “equal weight” rating and a $23.00 target price for the company. Stifel Nicolaus upped their target price on Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. TheStreet raised shares of Exelixis from a “c+” rating to a “b-” rating in a research note on Monday, March 18th. Finally, JMP Securities reiterated a “market outperform” rating and set a $27.00 price objective on shares of Exelixis in a report on Wednesday, April 10th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Exelixis has an average rating of “Moderate Buy” and a consensus target price of $26.13.

Exelixis Price Performance

Shares of EXEL stock opened at $21.12 on Thursday. The firm has a 50-day moving average of $22.88 and a 200-day moving average of $22.29. Exelixis, Inc. has a one year low of $18.64 and a one year high of $24.34. The company has a market cap of $6.40 billion, a P/E ratio of 33.00, a P/E/G ratio of 0.57 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.16). Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The firm had revenue of $425.23 million during the quarter, compared to analysts’ expectations of $461.04 million. During the same quarter last year, the business posted $0.12 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, research analysts expect that Exelixis, Inc. will post 1.17 earnings per share for the current fiscal year.

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.