Retirement Systems of Alabama Boosts Stake in Exelixis, Inc. (EXEL)
Retirement Systems of Alabama grew its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 390,696 shares of the biotechnology company’s stock after purchasing an additional 3,231 shares during the period. Retirement Systems of Alabama owned approximately 0.13% of Exelixis worth $9,299,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of EXEL. Norges Bank bought a new stake in shares of Exelixis in the fourth quarter valued at approximately $54,640,000. Oregon Public Employees Retirement Fund raised its position in shares of Exelixis by 1,978.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,319,939 shares of the biotechnology company’s stock valued at $118,000 after purchasing an additional 2,208,347 shares during the period. Fiera Capital Corp bought a new stake in shares of Exelixis in the fourth quarter valued at approximately $39,370,000. Prudential Financial Inc. raised its position in shares of Exelixis by 451.9% in the fourth quarter. Prudential Financial Inc. now owns 1,598,167 shares of the biotechnology company’s stock valued at $31,435,000 after purchasing an additional 1,308,617 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Exelixis by 19.5% in the fourth quarter. First Trust Advisors LP now owns 5,551,138 shares of the biotechnology company’s stock valued at $109,191,000 after purchasing an additional 907,412 shares during the period. 75.95% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on EXEL shares. ValuEngine lowered shares of Exelixis from a “hold” rating to a “sell” rating in a research report on Saturday, January 19th. Zacks Investment Research raised shares of Exelixis from a “strong sell” rating to a “hold” rating in a research report on Monday, March 4th. BMO Capital Markets started coverage on shares of Exelixis in a research report on Friday, February 22nd. They issued a “market perform” rating and a $23.00 price target on the stock. Cowen reissued a “buy” rating and issued a $29.00 price target on shares of Exelixis in a research report on Tuesday, February 26th. Finally, BidaskClub lowered shares of Exelixis from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $29.88.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, February 12th. The biotechnology company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.14. Exelixis had a net margin of 80.95% and a return on equity of 48.90%. The company had revenue of $228.60 million during the quarter, compared to analysts’ expectations of $188.44 million. During the same quarter in the prior year, the company earned $0.12 EPS. The firm’s revenue was up 90.4% on a year-over-year basis. As a group, equities research analysts forecast that Exelixis, Inc. will post 1.09 EPS for the current year.
In other Exelixis news, insider Patrick J. Haley sold 2,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $25.00, for a total transaction of $50,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vincent T. Marchesi sold 41,250 shares of the stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $21.50, for a total transaction of $886,875.00. The disclosure for this sale can be found here. Insiders sold a total of 1,004,101 shares of company stock valued at $22,946,624 in the last ninety days. 4.80% of the stock is owned by corporate insiders.
Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.
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