Public Employees Retirement Association of Colorado Sells 2,926 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Public Employees Retirement Association of Colorado reduced its stake in Exelixis, Inc. (NASDAQ:EXEL) by 8.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 30,072 shares of the biotechnology company’s stock after selling 2,926 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Exelixis were worth $1,001,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tri Ri Asset Management Corp purchased a new position in Exelixis during the 3rd quarter worth $4,396,000. Blue Trust Inc. increased its stake in shares of Exelixis by 134.7% during the fourth quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company’s stock valued at $476,000 after buying an additional 8,208 shares during the period. Range Financial Group LLC bought a new stake in shares of Exelixis in the fourth quarter valued at about $994,000. Raymond James Financial Inc. purchased a new stake in Exelixis in the fourth quarter worth about $17,046,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Exelixis by 82.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock worth $52,884,000 after acquiring an additional 704,786 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Exelixis in a research report on Thursday, March 27th. Wells Fargo & Company reaffirmed a “market outperform” rating on shares of Exelixis in a research report on Thursday, April 17th. Oppenheimer lowered Exelixis from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $41.00 to $33.00 in a research report on Friday, January 24th. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada boosted their target price on shares of Exelixis from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.59.

Insider Transactions at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 52,636 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the sale, the executive vice president now directly owns 303,310 shares of the company’s stock, valued at approximately $11,216,403.80. This trade represents a 14.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Senner sold 29,314 shares of Exelixis stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.14, for a total value of $1,059,407.96. Following the transaction, the chief financial officer now owns 779,607 shares of the company’s stock, valued at $28,174,996.98. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock worth $5,177,234 over the last 90 days. 2.85% of the stock is currently owned by company insiders.

Exelixis Stock Performance

Exelixis stock opened at $39.15 on Thursday. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $40.02. The company has a market cap of $10.79 billion, a PE ratio of 22.12, a PEG ratio of 1.13 and a beta of 0.57. The business’s 50-day simple moving average is $36.86 and its two-hundred day simple moving average is $34.87.

Exelixis (NASDAQ:EXEL) last issued its quarterly 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 return on equity of 23.52% and a net margin of 24.04%. As a group, analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Exelixis Company 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.