Vestcor Inc Purchases 18,529 Shares of Exelixis, Inc. $EXEL

Vestcor Inc grew its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 9.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,795 shares of the biotechnology company’s stock after acquiring an additional 18,529 shares during the quarter. Vestcor Inc’s holdings in Exelixis were worth $8,499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Exelixis by 0.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock worth $4,521,000 after purchasing an additional 274 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Exelixis by 95.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 292 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in Exelixis by 6.4% during the 3rd quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company’s stock worth $225,000 after acquiring an additional 329 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Exelixis by 5.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,919 shares of the biotechnology company’s stock worth $327,000 after acquiring an additional 384 shares in the last quarter. Finally, North Star Asset Management Inc. raised its holdings in shares of Exelixis by 0.7% in the third quarter. North Star Asset Management Inc. now owns 57,550 shares of the biotechnology company’s stock valued at $2,377,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on EXEL. HC Wainwright increased their price objective on shares of Exelixis from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Wolfe Research initiated coverage on Exelixis in a research note on Tuesday, November 18th. They issued a “peer perform” rating for the company. UBS Group set a $41.00 target price on Exelixis in a research note on Monday, January 5th. Royal Bank Of Canada reduced their price target on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Finally, Zacks Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Ten equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.94.

Exelixis Trading Up 2.0%

Shares of EXEL opened at $42.37 on Tuesday. The stock has a 50-day moving average price of $43.51 and a 200-day moving average price of $41.62. The company has a market cap of $11.00 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.93 and a beta of 0.41. Exelixis, Inc. has a 12-month low of $32.38 and a 12-month high of $49.62.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.20. The business had revenue of $598.66 million for the quarter, compared to analysts’ expectations of $609.17 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The firm’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 earnings per share. As a group, analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insider Transactions at Exelixis

In other Exelixis news, EVP Dana Aftab sold 47,918 shares of Exelixis stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $44.50, for a total value of $2,132,351.00. Following the transaction, the executive vice president directly owned 616,106 shares of the company’s stock, valued at $27,416,717. The trade was a 7.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick J. Haley sold 67,814 shares of Exelixis stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $43.52, for a total transaction of $2,951,265.28. Following the completion of the transaction, the executive vice president directly owned 381,908 shares in the company, valued at approximately $16,620,636.16. The trade was a 15.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 362,849 shares of company stock valued at $15,917,463. 2.85% of the stock is currently owned by corporate insiders.

Exelixis 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.