State of New Jersey Common Pension Fund D Cuts Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

State of New Jersey Common Pension Fund D cut its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 107,585 shares of the biotechnology company’s stock after selling 3,947 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Exelixis were worth $2,792,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in EXEL. Covestor Ltd increased its stake in Exelixis by 5.7% during the third quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after acquiring an additional 341 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in Exelixis during the 3rd quarter worth approximately $577,000. Capital Performance Advisors LLP purchased a new position in Exelixis in the third quarter valued at approximately $61,000. Heritage Investors Management Corp acquired a new position in Exelixis during the third quarter valued at approximately $201,000. Finally, Capital Management Corp VA grew its stake in Exelixis by 7.5% during the third quarter. Capital Management Corp VA now owns 365,270 shares of the biotechnology company’s stock worth $9,479,000 after buying an additional 25,350 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Exelixis

In related news, EVP Jeffrey Hessekiel sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $25.79, for a total value of $515,800.00. Following the sale, the executive vice president now owns 630,325 shares of the company’s stock, valued at approximately $16,256,081.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Exelixis news, EVP Dana Aftab sold 96,986 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total value of $3,394,510.00. Following the completion of the transaction, the executive vice president now owns 498,945 shares in the company, valued at approximately $17,463,075. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.79, for a total transaction of $515,800.00. Following the completion of the sale, the executive vice president now owns 630,325 shares in the company, valued at $16,256,081.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 248,148 shares of company stock worth $8,042,547 over the last ninety days. Company insiders own 2.85% of the company’s stock.

Exelixis Trading Down 1.8 %

Shares of NASDAQ EXEL opened at $35.19 on Thursday. The business has a 50 day simple moving average of $28.67 and a 200-day simple moving average of $24.99. Exelixis, Inc. has a twelve month low of $19.20 and a twelve month high of $36.60. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 0.91 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. During the same period last year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts predict that Exelixis, Inc. will post 1.68 earnings per share for the current year.

Analysts Set New Price Targets

EXEL has been the topic of a number of research reports. TD Cowen raised their target price on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, October 21st. HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research note on Wednesday, September 18th. Piper Sandler increased their target price on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and set a $29.00 target price on shares of Exelixis in a report on Friday, October 11th. Finally, The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.44.

Exelixis Profile

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.