State of New Jersey Common Pension Fund D Reduces Holdings in Exelixis, Inc. (NASDAQ:EXEL)

State of New Jersey Common Pension Fund D reduced its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,467 shares of the biotechnology company's stock after selling 8,118 shares during the period. State of New Jersey Common Pension Fund D's holdings in Exelixis were worth $3,312,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC boosted its position in Exelixis by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company's stock worth $46,473,000 after acquiring an additional 991,494 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company's stock worth $52,884,000 after buying an additional 704,786 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in Exelixis in the 3rd quarter valued at about $14,979,000. Burney Co. acquired a new position in shares of Exelixis in the fourth quarter valued at approximately $12,267,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Exelixis by 263.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 483,064 shares of the biotechnology company's stock worth $12,536,000 after acquiring an additional 350,026 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Stock Up 4.5 %

Shares of NASDAQ:EXEL traded up $1.59 during midday trading on Friday, reaching $36.68. The company's stock had a trading volume of 2,266,786 shares, compared to its average volume of 2,587,462. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 1.13 and a beta of 0.53. Exelixis, Inc. has a 1 year low of $20.14 and a 1 year high of $37.59. The business has a 50 day moving average price of $34.16 and a 200 day moving average price of $31.14.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. Sell-side analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares of the company's stock, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of Exelixis stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $34.88, for a total transaction of $425,884.80. Following the transaction, the director now directly owns 30,406 shares in the company, valued at approximately $1,060,561.28. This trade represents a 28.65 % 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EXEL. Stifel Nicolaus boosted their price objective on Exelixis from $30.00 to $36.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. Piper Sandler raised their price target on Exelixis from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Citigroup lifted their price objective on shares of Exelixis from $38.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Brookline Capital Management assumed coverage on shares of Exelixis in a research note on Monday, December 23rd. They issued a "buy" rating for the company. Finally, StockNews.com upgraded Exelixis from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Exelixis currently has a consensus rating of "Moderate Buy" and an average target price of $37.24.

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.