Ontario Teachers Pension Plan Board Cuts Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Ontario Teachers Pension Plan Board reduced its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 70.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,823 shares of the biotechnology company's stock after selling 86,517 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Exelixis were worth $930,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Covestor Ltd increased its holdings in shares of Exelixis by 5.7% during the third quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company's stock valued at $164,000 after acquiring an additional 341 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in Exelixis by 3.6% in the second quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company's stock worth $309,000 after purchasing an additional 477 shares during the last quarter. Cornercap Investment Counsel Inc. boosted its position in Exelixis by 1.1% in the second quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company's stock worth $1,135,000 after purchasing an additional 539 shares during the last quarter. Creative Planning boosted its position in Exelixis by 0.8% in the second quarter. Creative Planning now owns 71,700 shares of the biotechnology company's stock worth $1,611,000 after purchasing an additional 548 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Exelixis by 3.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company's stock valued at $515,000 after buying an additional 609 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Trading Up 0.2 %

Shares of EXEL stock traded up $0.06 during trading hours on Thursday, reaching $34.71. 351,492 shares of the company's stock were exchanged, compared to its average volume of 2,072,391. The stock's 50 day moving average is $29.55 and its 200-day moving average is $25.41. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 0.87 and a beta of 0.51. Exelixis, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $36.60.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm's revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. Equities analysts anticipate that Exelixis, Inc. will post 1.68 EPS for the current year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Dana Aftab sold 96,986 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total value of $3,394,510.00. Following the sale, the executive vice president now owns 498,945 shares of the company's stock, valued at $17,463,075. The trade was a 16.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the transaction, the executive vice president now owns 605,325 shares of the company's stock, valued at approximately $15,968,473.50. This trade represents a 3.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 289,736 shares of company stock worth $9,471,510. Insiders own 2.85% of the company's stock.

Analysts Set New Price Targets

EXEL has been the topic of a number of recent research reports. Oppenheimer reaffirmed an "outperform" rating and set a $29.00 price target on shares of Exelixis in a research report on Tuesday, July 30th. BMO Capital Markets boosted their price objective on Exelixis from $29.00 to $36.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Stifel Nicolaus upped their target price on Exelixis from $26.00 to $30.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Guggenheim upped their target price on Exelixis from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Bank of America upped their target price on Exelixis from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.