California Public Employees Retirement System Lowers Position in Exelixis, Inc. (NASDAQ:EXEL)

California Public Employees Retirement System decreased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 224,000 shares of the biotechnology company’s stock after selling 7,200 shares during the period. California Public Employees Retirement System owned 0.08% of Exelixis worth $4,854,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EXEL. Klingenstein Fields & Co. LLC bought a new position in Exelixis during the first quarter worth $217,000. Great West Life Assurance Co. Can raised its position in Exelixis by 26.9% in the first quarter. Great West Life Assurance Co. Can now owns 28,342 shares of the biotechnology company’s stock worth $613,000 after buying an additional 6,000 shares during the period. Wells Fargo & Company MN raised its position in Exelixis by 167.1% in the first quarter. Wells Fargo & Company MN now owns 1,460,194 shares of the biotechnology company’s stock worth $31,642,000 after buying an additional 913,454 shares during the period. Old Mutual Global Investors UK Ltd. raised its position in Exelixis by 237.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 5,041,260 shares of the biotechnology company’s stock worth $109,244,000 after buying an additional 3,547,665 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Exelixis by 2.8% in the first quarter. Russell Investments Group Ltd. now owns 624,628 shares of the biotechnology company’s stock worth $13,535,000 after buying an additional 17,070 shares during the period. 80.82% of the stock is owned by institutional investors.

Exelixis, Inc. (EXEL) traded up 0.89% during trading on Friday, reaching $27.23. The company had a trading volume of 2,193,259 shares. The firm has a market capitalization of $7.97 billion, a P/E ratio of 1296.67 and a beta of 1.88. Exelixis, Inc. has a 52 week low of $8.58 and a 52 week high of $27.63. The stock has a 50 day moving average price of $23.04 and a 200 day moving average price of $21.23.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Monday, May 1st. The biotechnology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. The company had revenue of $80.90 million for the quarter, compared to the consensus estimate of $65.23 million. Exelixis had a return on equity of 126.82% and a net margin of 1.37%. The firm’s revenue for the quarter was up 425.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.27) EPS. Analysts predict that Exelixis, Inc. will post $0.18 earnings per share for the current year.

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A number of research analysts recently weighed in on the company. Cann reaffirmed a “hold” rating on shares of Exelixis in a research report on Thursday. SunTrust Banks, Inc. assumed coverage on Exelixis in a report on Thursday, July 13th. They issued a “buy” rating and a $33.00 target price for the company. Zacks Investment Research raised Exelixis from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a report on Tuesday, July 11th. BidaskClub raised Exelixis from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Finally, William Blair reissued an “outperform” rating on shares of Exelixis in a report on Monday, June 26th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Exelixis currently has a consensus rating of “Buy” and an average target price of $20.95.

In other news, CEO Michael Morrissey sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $21.69, for a total transaction of $2,169,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carl B. Feldbaum sold 32,988 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $21.58, for a total value of $711,881.04. Following the sale, the director now owns 52,721 shares in the company, valued at $1,137,719.18. The disclosure for this sale can be found here. Insiders have sold a total of 709,647 shares of company stock worth $15,673,068 over the last ninety days. 5.10% of the stock is owned by insiders.

Exelixis Company Profile

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.

Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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