Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 74.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,561 shares of the biotechnology company's stock after selling 94,281 shares during the period. State of Alaska Department of Revenue's holdings in Exelixis were worth $1,084,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of Exelixis in the third quarter worth about $30,000. USA Financial Formulas acquired a new position in shares of Exelixis during the 4th quarter worth about $32,000. Brooklyn Investment Group acquired a new position in shares of Exelixis during the 3rd quarter worth about $42,000. UMB Bank n.a. raised its position in shares of Exelixis by 68.4% during the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock worth $45,000 after purchasing an additional 553 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Exelixis during the 3rd quarter worth about $61,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on EXEL shares. HC Wainwright restated a "buy" rating and set a $40.00 price target on shares of Exelixis in a research report on Thursday. StockNews.com downgraded shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 11th. BMO Capital Markets downgraded shares of Exelixis from an "outperform" rating to a "market perform" rating and upped their price target for the stock from $36.00 to $40.00 in a research report on Friday, December 20th. Stephens restated an "equal weight" rating and set a $29.00 price target on shares of Exelixis in a research report on Wednesday, February 12th. Finally, Brookline Capital Management began coverage on shares of Exelixis in a research note on Monday, December 23rd. They set a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $37.24.

Insider Transactions at Exelixis

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of the company's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now owns 278,665 shares in the company, valued at approximately $9,828,514.55. This represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.85% of the company's stock.

Exelixis Stock Up 1.5 %

Shares of Exelixis stock traded up $0.51 during mid-day trading on Monday, hitting $35.00. The stock had a trading volume of 2,854,977 shares, compared to its average volume of 2,601,778. The firm has a 50-day moving average of $34.19 and a two-hundred day moving average of $31.01. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $37.59. The firm has a market cap of $10.00 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53.

Exelixis (NASDAQ:EXEL - Get Free Report) 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 22.43% and a return on equity of 20.99%. Sell-side analysts expect that Exelixis, Inc. will post 1.74 earnings per share for the current year.

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.