Exelixis, Inc. $EXEL Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its stake in Exelixis, Inc. (NASDAQ:EXEL) by 4.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 206,985 shares of the biotechnology company’s stock after selling 8,982 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Exelixis were worth $12,090,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EXEL. BlackRock Inc. acquired a new position in shares of Exelixis during the second quarter worth approximately $1,581,991,000. Caisse de depot et placement du Quebec acquired a new position in Exelixis during the second quarter worth about $113,951,000. Bank of New York Mellon Corp acquired a new position in Exelixis during the second quarter worth about $107,803,000. Jupiter Topco LLC bought a new stake in Exelixis in the second quarter worth about $67,299,000. Finally, First Trust Advisors LP raised its position in Exelixis by 62.0% in the first quarter. First Trust Advisors LP now owns 2,534,992 shares of the biotechnology company’s stock worth $108,726,000 after acquiring an additional 970,144 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Up 0.2%

Shares of NASDAQ:EXEL opened at $70.70 on Thursday. The company’s fifty day moving average is $61.86 and its two-hundred day moving average is $51.97. The company has a market cap of $17.25 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 1.82 and a beta of 0.45. Exelixis, Inc. has a 12-month low of $39.71 and a 12-month high of $73.69.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Thursday, October 29th. The biotechnology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.89 by $0.05. Exelixis had a return on equity of 45.54% and a net margin of 35.45%. The business had revenue of $658.70 million during the quarter, compared to analysts’ expectations of $646.51 million. During the same quarter last year, the firm posted $0.78 earnings per share. Exelixis’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Exelixis, Inc. will post 3.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EXEL shares. Truist Financial upped their price target on shares of Exelixis from $54.00 to $60.00 and gave the company a “hold” rating in a report on Friday, October 30th. BMO Capital Markets reiterated a “market perform” rating and issued a $60.00 target price on shares of Exelixis in a report on Friday, October 30th. HC Wainwright increased their target price on shares of Exelixis from $56.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, November 2nd. Wall Street Zen upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Stifel Nicolaus lifted their price target on shares of Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $58.85.

About Exelixis

Exelixis, Inc. is a biotechnology company focused on discovering, developing and commercializing medicines for cancer. Founded in 1994 and headquartered in Alameda, California, the company has built its business around oncology treatments and continues to advance a pipeline of potential cancer therapies. Its principal marketed medicine is cabozantinib, sold in the United States as Cabometyx and Cometriq. Cabometyx is used to treat certain patients with advanced kidney, liver and thyroid cancers, while Cometriq is used for medullary thyroid cancer.