State Board of Administration of Florida Retirement System Has $9.32 Million Holdings in Exelixis, Inc. (EXEL)
State Board of Administration of Florida Retirement System boosted its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 384,547 shares of the biotechnology company’s stock after acquiring an additional 4,940 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.13% of Exelixis worth $9,318,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of EXEL. Legal & General Group Plc raised its position in Exelixis by 1.3% during the first quarter. Legal & General Group Plc now owns 84,763 shares of the biotechnology company’s stock worth $1,834,000 after acquiring an additional 1,078 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Exelixis by 11.4% during the first quarter. Dimensional Fund Advisors LP now owns 591,901 shares of the biotechnology company’s stock worth $12,826,000 after acquiring an additional 60,548 shares in the last quarter. Bank of America Corp DE raised its position in Exelixis by 428.4% during the first quarter. Bank of America Corp DE now owns 132,505 shares of the biotechnology company’s stock worth $2,871,000 after acquiring an additional 172,854 shares in the last quarter. Capstone Asset Management Co. bought a new stake in Exelixis during the second quarter worth $242,000. Finally, Creative Planning raised its position in Exelixis by 82.1% during the second quarter. Creative Planning now owns 92,538 shares of the biotechnology company’s stock worth $2,279,000 after acquiring an additional 41,730 shares in the last quarter. 79.03% of the stock is currently owned by hedge funds and other institutional investors.
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In related news, insider Gisela Schwab sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $23.79, for a total value of $2,379,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Morrissey sold 300,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $26.90, for a total transaction of $8,070,000.00. The disclosure for this sale can be found here. Insiders sold 970,152 shares of company stock worth $25,923,457 over the last 90 days. 5.10% of the stock is currently owned by corporate insiders.
Several analysts have issued reports on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $26.00 price target on shares of Exelixis in a research report on Tuesday, October 17th. Royal Bank Of Canada upped their price objective on shares of Exelixis from $33.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, October 17th. Needham & Company LLC upped their price objective on shares of Exelixis from $30.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Wednesday, October 18th. Finally, Leerink Swann downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $34.00 to $28.00 in a report on Friday, September 22nd. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $31.38.
Exelixis, Inc. (NASDAQ:EXEL) opened at $25.85 on Friday. Exelixis, Inc. has a one year low of $14.22 and a one year high of $32.50. The company has a market cap of $7,647.80, a PE ratio of 50.69, a P/E/G ratio of 1.25 and a beta of 1.89.
Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.18. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. The business had revenue of $152.50 million for the quarter, compared to the consensus estimate of $104.91 million. During the same period in the prior year, the company posted ($0.04) earnings per share. Exelixis’s revenue was up 145.2% compared to the same quarter last year. equities research analysts forecast that Exelixis, Inc. will post 0.45 EPS for the current fiscal year.
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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