State of Alaska Department of Revenue Decreases Position in Exelixis, Inc. (NASDAQ:EXEL)

State of Alaska Department of Revenue decreased its stake in Exelixis, Inc. (NASDAQ:EXEL) by 74.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 32,561 shares of the biotechnology company’s stock after selling 94,281 shares during the quarter. State of Alaska Department of Revenue’s holdings in Exelixis were worth $1,084,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC boosted its holdings in Exelixis by 6.1% in the third quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock valued at $63,891,000 after purchasing an additional 140,568 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in Exelixis by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after buying an additional 991,494 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Exelixis by 6.1% during the 3rd quarter. Two Sigma Advisers LP now owns 1,702,590 shares of the biotechnology company’s stock worth $44,182,000 after buying an additional 98,000 shares during the last quarter. Systematic Financial Management LP lifted its holdings in Exelixis by 7.1% during the 3rd quarter. Systematic Financial Management LP now owns 1,168,391 shares of the biotechnology company’s stock worth $30,320,000 after buying an additional 77,599 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in Exelixis by 24.6% during the 3rd quarter. Retirement Systems of Alabama now owns 911,497 shares of the biotechnology company’s stock worth $23,653,000 after buying an additional 180,021 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EXEL. Truist Financial increased their target price on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. JMP Securities reiterated a “market outperform” rating and set a $41.00 price target on shares of Exelixis in a research report on Thursday, January 23rd. Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and increased their price target for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. Piper Sandler increased their price target on Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Stifel Nicolaus increased their price target on Exelixis from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.24.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $34.49 on Friday. The stock has a fifty day moving average price of $34.21 and a two-hundred day moving average price of $30.75. The firm has a market cap of $9.85 billion, a P/E ratio of 22.11, a PEG ratio of 0.63 and a beta of 0.53. Exelixis, Inc. has a 1 year low of $20.14 and a 1 year high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 22.43% and a return on equity of 20.99%. On average, research analysts predict that Exelixis, Inc. will post 1.74 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In other news, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the sale, the executive vice president now directly owns 278,665 shares of the company’s stock, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,588 shares of company stock valued at $3,981,864 in the last three months. 2.85% of the stock is currently owned by corporate insiders.

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.