Public Employees Retirement System of Ohio Trims Stake in Exelixis, Inc. $EXEL

Public Employees Retirement System of Ohio reduced its stake in Exelixis, Inc. (NASDAQ:EXEL) by 8.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 95,518 shares of the biotechnology company’s stock after selling 9,052 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Exelixis were worth $5,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of EXEL. BlackRock Inc. purchased a new stake in Exelixis in the second quarter worth about $1,581,991,000. AQR Capital Management LLC lifted its position in shares of Exelixis by 48.8% during the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock valued at $598,647,000 after buying an additional 4,477,029 shares in the last quarter. Norges Bank bought a new position in shares of Exelixis during the 4th quarter valued at approximately $106,460,000. Caisse de depot et placement du Quebec bought a new position in shares of Exelixis during the 2nd quarter valued at approximately $113,951,000. Finally, Bank of New York Mellon Corp purchased a new stake in Exelixis in the 2nd quarter worth approximately $107,803,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Exelixis news, Director Mary C. Beckerle sold 9,812 shares of Exelixis stock in a transaction on Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the sale, the director directly owned 16,079 shares in the company, valued at approximately $862,799.14. The trade was a 37.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

EXEL has been the topic of several analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Exelixis in a report on Wednesday, July 22nd. Morgan Stanley raised their price objective on shares of Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Stifel Nicolaus lifted their target price on shares of Exelixis from $47.00 to $51.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. Zacks Research downgraded shares of Exelixis from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. Finally, Citizens Jmp increased their price target on Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $50.07.

Exelixis Price Performance

EXEL stock opened at $58.53 on Thursday. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $59.11. The business has a 50 day simple moving average of $54.86 and a two-hundred day simple moving average of $49.33. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.69 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The firm had revenue of $628.69 million for the quarter, compared to analysts’ expectations of $636.40 million. During the same quarter last year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Sell-side analysts anticipate that Exelixis, Inc. will post 3.19 EPS for the current fiscal year.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.