Exelixis, Inc. $EXEL Stock: Retirement Systems of Alabama Reduces Position

Retirement Systems of Alabama reduced its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 12.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 713,068 shares of the biotechnology company’s stock after selling 97,587 shares during the period. Retirement Systems of Alabama’s holdings in Exelixis were worth $41,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXEL. Parallel Advisors LLC raised its stake in Exelixis by 2.0% in the third quarter. Parallel Advisors LLC now owns 9,456 shares of the biotechnology company’s stock valued at $552,000 after buying an additional 186 shares during the last quarter. Private Client Services LLC grew its stake in shares of Exelixis by 0.7% during the third quarter. Private Client Services LLC now owns 28,539 shares of the biotechnology company’s stock worth $1,667,000 after acquiring an additional 209 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Exelixis by 0.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company’s stock worth $2,549,000 after acquiring an additional 281 shares during the last quarter. Brindle & Bay Financial Advisors LLC grew its stake in shares of Exelixis by 8.0% during the third quarter. Brindle & Bay Financial Advisors LLC now owns 4,105 shares of the biotechnology company’s stock worth $240,000 after acquiring an additional 305 shares during the last quarter. Finally, Soltis Investment Advisors LLC increased its holdings in shares of Exelixis by 7.0% during the third quarter. Soltis Investment Advisors LLC now owns 4,868 shares of the biotechnology company’s stock valued at $284,000 after acquiring an additional 320 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Performance

Shares of EXEL opened at $70.58 on Wednesday. The stock has a 50-day moving average of $61.59 and a two-hundred day moving average of $51.84. Exelixis, Inc. has a one year low of $39.71 and a one year high of $73.69. The stock has a market cap of $17.22 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.85 and a beta of 0.45.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Thursday, October 29th. The biotechnology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. The business had revenue of $658.70 million for the quarter, compared to analyst estimates of $646.51 million. Exelixis had a return on equity of 45.54% and a net margin of 35.45%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 earnings per share. Analysts predict that Exelixis, Inc. will post 3.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on EXEL. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Monday. Morgan Stanley lifted their target price on shares of Exelixis from $53.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, October 30th. Weiss Ratings raised shares of Exelixis from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. Zacks Research upgraded shares of Exelixis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 1st. Finally, Citizens Jmp upped their price target on shares of Exelixis from $55.00 to $65.00 and gave the company a “market outperform” rating in a research note on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $58.85.

About Exelixis

Exelixis, Inc. is a biotechnology company focused on discovering, developing and commercializing medicines for cancer. Founded in 1994 and headquartered in Alameda, California, the company has built its business around oncology treatments and continues to advance a pipeline of potential cancer therapies. Its principal marketed medicine is cabozantinib, sold in the United States as Cabometyx and Cometriq. Cabometyx is used to treat certain patients with advanced kidney, liver and thyroid cancers, while Cometriq is used for medullary thyroid cancer.