Ontario Teachers Pension Plan Board Raises Position in Exelixis, Inc. (NASDAQ:EXEL)

Ontario Teachers Pension Plan Board increased its position in Exelixis, Inc. (NASDAQ:EXEL) by 13.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,140 shares of the biotechnology company’s stock after purchasing an additional 28,285 shares during the period. Ontario Teachers Pension Plan Board owned 0.08% of Exelixis worth $5,737,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Exelixis in the fourth quarter worth $73,449,000. Acadian Asset Management LLC increased its stake in Exelixis by 1,043.9% during the 3rd quarter. Acadian Asset Management LLC now owns 1,957,848 shares of the biotechnology company’s stock valued at $42,750,000 after purchasing an additional 1,786,687 shares in the last quarter. abrdn plc purchased a new position in Exelixis in the fourth quarter worth about $15,997,000. California Public Employees Retirement System raised its holdings in Exelixis by 42.3% in the third quarter. California Public Employees Retirement System now owns 1,771,128 shares of the biotechnology company’s stock worth $38,699,000 after buying an additional 526,814 shares during the last quarter. Finally, NewEdge Wealth LLC bought a new position in shares of Exelixis in the third quarter worth approximately $10,238,000. Institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

EXEL has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $28.00 price objective on shares of Exelixis in a report on Friday, May 3rd. Barclays cut Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a research report on Thursday, April 11th. TD Cowen boosted their target price on Exelixis from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. William Blair restated an “outperform” rating on shares of Exelixis in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their price objective on shares of Exelixis from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.13.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total value of $1,008,579.00. Following the completion of the transaction, the executive vice president now directly owns 384,866 shares in the company, valued at approximately $8,255,375.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of Exelixis stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.45, for a total value of $1,008,579.00. Following the sale, the executive vice president now directly owns 384,866 shares in the company, valued at approximately $8,255,375.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alan M. Garber sold 19,205 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $24.01, for a total transaction of $461,112.05. Following the transaction, the director now directly owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The disclosure for this sale can be found here. Insiders have sold a total of 77,148 shares of company stock valued at $1,703,116 over the last ninety days. 2.85% of the stock is currently owned by company insiders.

Exelixis Price Performance

Shares of NASDAQ:EXEL traded down $0.02 during mid-day trading on Wednesday, reaching $21.00. 1,528,499 shares of the company traded hands, compared to its average volume of 2,266,373. The company’s 50 day moving average price is $22.78 and its 200-day moving average price is $22.31. The firm has a market cap of $6.37 billion, a PE ratio of 32.94, a PEG ratio of 0.57 and a beta of 0.57. Exelixis, Inc. has a 52 week low of $18.64 and a 52 week high of $24.34.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). The firm had revenue of $425.23 million during the quarter, compared to the consensus estimate of $461.04 million. Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 earnings per share. On average, research analysts predict that Exelixis, Inc. will post 1.16 earnings per share 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.