Arizona State Retirement System Lowers Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Arizona State Retirement System trimmed its position in Exelixis, Inc. (NASDAQ:EXEL) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,486 shares of the biotechnology company’s stock after selling 1,003 shares during the quarter. Arizona State Retirement System’s holdings in Exelixis were worth $2,480,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in EXEL. Farther Finance Advisors LLC lifted its holdings in shares of Exelixis by 467.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,940 shares of the biotechnology company’s stock worth $102,000 after buying an additional 3,246 shares during the period. CWA Asset Management Group LLC purchased a new stake in shares of Exelixis in the 3rd quarter worth $577,000. Covestor Ltd raised its position in shares of Exelixis by 5.7% in the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after acquiring an additional 341 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Exelixis in the 3rd quarter worth $475,000. Finally, Victory Capital Management Inc. raised its position in shares of Exelixis by 16.6% in the 3rd quarter. Victory Capital Management Inc. now owns 136,178 shares of the biotechnology company’s stock worth $3,534,000 after acquiring an additional 19,372 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EXEL shares. Truist Financial boosted their price target on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company lowered Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a research report on Monday, February 24th. Brookline Capital Management started coverage on Exelixis in a research report on Monday, December 23rd. They issued a “buy” rating for the company. Piper Sandler boosted their price target on Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Stephens reissued an “equal weight” rating and issued a $29.00 price target on shares of Exelixis in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Exelixis currently has an average rating of “Moderate Buy” and a consensus price target of $37.24.

Exelixis Stock Performance

Exelixis stock opened at $39.15 on Tuesday. The business’s 50-day simple moving average is $35.10 and its two-hundred day simple moving average is $32.21. The company has a market cap of $10.96 billion, a PE ratio of 22.12, a PEG ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $40.02.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. As a group, analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Insider Transactions at Exelixis

In other news, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the sale, the executive vice president now owns 341,028 shares in the company, valued at $13,231,886.40. This represents a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $34.88, for a total value of $425,884.80. Following the completion of the sale, the director now owns 30,406 shares in the company, valued at $1,060,561.28. The trade was a 28.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock worth $5,177,234 over the last quarter. 2.85% of the stock is currently owned by 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.