Exelixis, Inc. (NASDAQ:EXEL) Holdings Raised by California Public Employees Retirement System

California Public Employees Retirement System lifted its stake in Exelixis, Inc. (NASDAQ:EXEL) by 11.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,974,291 shares of the biotechnology company’s stock after purchasing an additional 203,163 shares during the quarter. California Public Employees Retirement System owned 0.63% of Exelixis worth $47,363,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Acadian Asset Management LLC raised its stake in Exelixis by 1,043.9% during the 3rd quarter. Acadian Asset Management LLC now owns 1,957,848 shares of the biotechnology company’s stock valued at $42,750,000 after purchasing an additional 1,786,687 shares during the period. abrdn plc acquired a new position in Exelixis during the fourth quarter valued at $15,997,000. NewEdge Wealth LLC acquired a new position in Exelixis during the third quarter valued at $10,238,000. Braun Stacey Associates Inc. purchased a new stake in Exelixis in the 4th quarter worth about $10,414,000. Finally, American Century Companies Inc. boosted its position in Exelixis by 31.5% during the 3rd quarter. American Century Companies Inc. now owns 1,410,113 shares of the biotechnology company’s stock worth $30,811,000 after acquiring an additional 338,021 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Stock Performance

NASDAQ EXEL opened at $23.70 on Friday. Exelixis, Inc. has a twelve month low of $18.08 and a twelve month high of $24.34. The stock has a market cap of $6.99 billion, a PE ratio of 37.03, a PEG ratio of 0.63 and a beta of 0.54. The firm has a 50-day simple moving average of $22.80 and a 200 day simple moving average of $22.18.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $479.65 million for the quarter, compared to analysts’ expectations of $481.23 million. Exelixis had a return on equity of 8.57% and a net margin of 11.35%. Research analysts forecast that Exelixis, Inc. will post 1.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EXEL shares. TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a report on Monday, March 18th. William Blair reiterated an “outperform” rating on shares of Exelixis in a research note on Friday, January 26th. Royal Bank of Canada increased their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Barclays cut shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a report on Thursday, April 11th. Finally, Stifel Nicolaus increased their price objective on Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, February 2nd. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.29.

Insider Activity at Exelixis

In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $24.01, for a total transaction of $461,112.05. Following the completion of the transaction, the director now owns 35,703 shares in the company, valued at $857,229.03. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Patrick J. Haley sold 47,020 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.45, for a total value of $1,008,579.00. Following the sale, the executive vice president now owns 384,866 shares of the company’s stock, valued at approximately $8,255,375.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alan M. Garber sold 19,205 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $24.01, for a total transaction of $461,112.05. Following the sale, the director now owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

About Exelixis

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.