California Public Employees Retirement System Has $44.32 Million Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

California Public Employees Retirement System reduced its position in Exelixis, Inc. (NASDAQ:EXEL) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,331,027 shares of the biotechnology company’s stock after selling 61,398 shares during the period. California Public Employees Retirement System owned about 0.47% of Exelixis worth $44,323,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in EXEL. Norges Bank purchased a new stake in Exelixis in the 4th quarter worth about $94,867,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Exelixis by 104.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company’s stock worth $105,208,000 after purchasing an additional 1,613,482 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Exelixis by 82.1% in 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 purchasing an additional 704,786 shares in the last quarter. Globeflex Capital L P boosted its holdings in shares of Exelixis by 203.8% during the fourth quarter. Globeflex Capital L P now owns 975,151 shares of the biotechnology company’s stock worth $32,473,000 after purchasing an additional 654,200 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Exelixis during the fourth quarter valued at approximately $17,046,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Price Performance

EXEL stock opened at $37.04 on Thursday. The company has a 50-day moving average of $35.80 and a two-hundred day moving average of $33.48. The stock has a market capitalization of $10.37 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a 52-week low of $20.14 and a 52-week high of $40.02.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. Equities analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

EXEL has been the subject of a number of research reports. Bank of America lowered shares of Exelixis from a “buy” rating to a “neutral” rating and lifted their target price for the company from $35.00 to $39.00 in a research note on Tuesday, December 17th. Piper Sandler lifted their price objective on Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Barclays boosted their target price on Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 19th. Finally, UBS Group boosted their price target on Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $37.59.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 10,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.80, for a total transaction of $388,000.00. Following the transaction, the executive vice president now directly owns 341,028 shares in the company, valued at $13,231,886.40. The trade was a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary C. Beckerle sold 12,210 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $34.88, for a total value of $425,884.80. Following the completion of the sale, the director now owns 30,406 shares of the company’s stock, valued at $1,060,561.28. This represents a 28.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,343 shares of company stock valued at $5,177,234. 2.85% of the stock is owned by company insiders.

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.