Exelixis, Inc. $EXEL Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 8.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 328,539 shares of the biotechnology company’s stock after selling 28,433 shares during the period. New York State Teachers Retirement System owned about 0.12% of Exelixis worth $13,569,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in Exelixis by 10.3% during the 2nd quarter. AQR Capital Management LLC now owns 7,606,079 shares of the biotechnology company’s stock worth $335,238,000 after purchasing an additional 712,190 shares during the period. Geode Capital Management LLC boosted its stake in shares of Exelixis by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 7,445,469 shares of the biotechnology company’s stock valued at $328,196,000 after buying an additional 28,289 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Exelixis by 42.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock worth $231,951,000 after buying an additional 1,580,567 shares in the last quarter. Qube Research & Technologies Ltd grew its position in shares of Exelixis by 120.5% during the second quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock worth $134,306,000 after buying an additional 1,665,110 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Exelixis during the second quarter worth approximately $122,099,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on EXEL shares. Barclays raised their price objective on shares of Exelixis from $40.00 to $41.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Guggenheim cut Exelixis from a “buy” rating to a “neutral” rating in a research note on Monday, November 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $48.00 price target (up from $45.00) on shares of Exelixis in a report on Thursday, January 8th. Oppenheimer reiterated a “market perform” rating and issued a $36.00 price objective on shares of Exelixis in a report on Wednesday, November 5th. Finally, Leerink Partners raised Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.84.

Exelixis Stock Performance

Shares of EXEL opened at $44.08 on Wednesday. The stock has a market capitalization of $11.82 billion, a P/E ratio of 18.60, a P/E/G ratio of 0.81 and a beta of 0.40. Exelixis, Inc. has a 1 year low of $31.90 and a 1 year high of $49.62. The company’s fifty day moving average is $43.28 and its two-hundred day moving average is $41.08.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.10. The company had revenue of $597.76 million for the quarter, compared to analysts’ expectations of $590.04 million. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. Sell-side analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Buying and Selling

In other news, EVP Dana Aftab sold 48,383 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total transaction of $2,056,277.50. Following the completion of the transaction, the executive vice president owned 664,778 shares of the company’s stock, valued at $28,253,065. This represents a 6.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary C. Beckerle sold 24,622 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $41.93, for a total transaction of $1,032,400.46. Following the completion of the sale, the director directly owned 21,380 shares in the company, valued at $896,463.40. This represents a 53.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 245,235 shares of company stock worth $10,490,600 in the last 90 days. Corporate insiders own 2.85% of the company’s stock.

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.