New York State Teachers Retirement System Increases Position in Exelixis, Inc. (NASDAQ:EXEL)

New York State Teachers Retirement System lifted its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 299,389 shares of the biotechnology company’s stock after purchasing an additional 3,600 shares during the period. New York State Teachers Retirement System owned about 0.10% of Exelixis worth $6,398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in EXEL. Great West Life Assurance Co. Can increased its stake in Exelixis by 19.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 216,765 shares of the biotechnology company’s stock worth $5,152,000 after buying an additional 35,983 shares in the last quarter. Wells Fargo & Company MN increased its stake in Exelixis by 320.7% during the 1st quarter. Wells Fargo & Company MN now owns 3,204,443 shares of the biotechnology company’s stock worth $76,266,000 after buying an additional 2,442,773 shares in the last quarter. Cornerstone Advisors Inc. increased its stake in Exelixis by 26.5% during the 1st quarter. Cornerstone Advisors Inc. now owns 2,413 shares of the biotechnology company’s stock worth $57,000 after buying an additional 505 shares in the last quarter. BlackRock Inc. increased its stake in Exelixis by 1.0% during the 1st quarter. BlackRock Inc. now owns 30,875,633 shares of the biotechnology company’s stock worth $734,839,000 after buying an additional 290,882 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in Exelixis during the 1st quarter worth approximately $437,000. Hedge funds and other institutional investors own 78.15% of the company’s stock.

In other news, EVP Peter Lamb sold 27,596 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $20.03, for a total transaction of $552,747.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George A. Scangos sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $19.76, for a total value of $790,400.00. Following the transaction, the director now owns 1,223,031 shares in the company, valued at $24,167,092.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 564,482 shares of company stock worth $11,613,097. Insiders own 4.50% of the company’s stock.

Several equities research analysts have commented on the company. Stifel Nicolaus boosted their price objective on Exelixis from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday. BidaskClub upgraded Exelixis from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research note on Tuesday, April 16th. Morgan Stanley set a $27.00 price objective on Exelixis and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Finally, Cowen set a $25.00 price objective on Exelixis and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Exelixis presently has a consensus rating of “Hold” and an average price target of $28.13.

Shares of Exelixis stock traded down $0.60 on Friday, hitting $19.79. 2,561,800 shares of the company were exchanged, compared to its average volume of 1,948,676. The stock has a market cap of $6.42 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.52 and a beta of 1.98. The stock’s 50-day moving average is $21.03. Exelixis, Inc. has a 1-year low of $13.42 and a 1-year high of $25.31. The company has a quick ratio of 7.48, a current ratio of 7.56 and a debt-to-equity ratio of 0.01.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, July 31st. The biotechnology company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The business had revenue of $240.28 million for the quarter, compared to analysts’ expectations of $226.97 million. Exelixis had a return on equity of 33.23% and a net margin of 70.52%. The business’s revenue for the quarter was up 29.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 EPS. As a group, sell-side analysts predict that Exelixis, Inc. will post 0.9 earnings per share for the current fiscal year.

About Exelixis

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.

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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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