Exelixis, Inc. $EXEL Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,985 shares of the biotechnology company’s stock after selling 8,982 shares during the period. Illinois Municipal Retirement Fund owned about 0.08% of Exelixis worth $12,090,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cassaday & Co Wealth Management LLC bought a new position in shares of Exelixis during the first quarter worth about $27,000. Western Wealth Management LLC acquired a new position in Exelixis in the first quarter worth about $29,000. Gen Wealth Partners Inc acquired a new position in Exelixis in the third quarter worth about $38,000. Mather Group LLC. grew its stake in Exelixis by 124.6% in the third quarter. Mather Group LLC. now owns 757 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 420 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Exelixis in the second quarter valued at about $46,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EXEL. TD Cowen upped their price objective on Exelixis from $55.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 30th. BMO Capital Markets reiterated a “market perform” rating and issued a $60.00 target price on shares of Exelixis in a research report on Friday, October 30th. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Monday. Leerink Partners boosted their price target on Exelixis from $55.00 to $58.00 and gave the company a “market perform” rating in a report on Thursday, November 5th. Finally, Citizens Jmp upped their price target on Exelixis from $55.00 to $65.00 and gave the company a “market outperform” rating in a research report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Exelixis has an average rating of “Hold” and an average price target of $58.85.

Exelixis Stock Performance

NASDAQ EXEL opened at $70.70 on Thursday. Exelixis, Inc. has a one year low of $39.71 and a one year high of $73.69. The company has a 50-day simple moving average of $61.86 and a 200-day simple moving average of $51.97. The firm has a market capitalization of $17.25 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 1.82 and a beta of 0.45.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Thursday, October 29th. The biotechnology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.05. Exelixis had a net margin of 35.45% and a return on equity of 45.54%. The firm had revenue of $658.70 million for the quarter, compared to analyst estimates of $646.51 million. During the same quarter in the prior year, the business earned $0.78 earnings per share. Exelixis’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts forecast that Exelixis, Inc. will post 3.42 earnings per share for the current year.

Exelixis Company Profile

Exelixis, Inc. is a biotechnology company focused on discovering, developing and commercializing medicines for cancer. Founded in 1994 and headquartered in Alameda, California, the company has built its business around oncology treatments and continues to advance a pipeline of potential cancer therapies. Its principal marketed medicine is cabozantinib, sold in the United States as Cabometyx and Cometriq. Cabometyx is used to treat certain patients with advanced kidney, liver and thyroid cancers, while Cometriq is used for medullary thyroid cancer.