State of New Jersey Common Pension Fund D Has $3.31 Million Stake in Exelixis, Inc. (NASDAQ:EXEL)

State of New Jersey Common Pension Fund D lessened its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,467 shares of the biotechnology company’s stock after selling 8,118 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Exelixis were worth $3,312,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in EXEL. USA Financial Formulas bought a new stake in Exelixis during the fourth quarter worth approximately $32,000. Principal Securities Inc. boosted its holdings in shares of Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after buying an additional 373 shares during the period. Brooklyn Investment Group bought a new stake in shares of Exelixis during the 3rd quarter worth $42,000. UMB Bank n.a. grew its stake in Exelixis by 68.4% in the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 553 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in Exelixis by 37.3% during the 4th quarter. V Square Quantitative Management LLC now owns 1,563 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 425 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

EXEL has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer downgraded Exelixis from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $41.00 to $33.00 in a research report on Friday, January 24th. Citigroup raised their price objective on shares of Exelixis from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley upgraded shares of Exelixis from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $30.00 to $40.00 in a research note on Monday, January 27th. Finally, Piper Sandler raised their price target on shares of Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $37.24.

Exelixis Price Performance

Exelixis stock opened at $35.07 on Thursday. The business has a 50 day simple moving average of $34.16 and a 200 day simple moving average of $31.11. The company has a market capitalization of $9.82 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.13 and a beta of 0.53. Exelixis, Inc. has a one year low of $20.14 and a one year high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. Equities analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now owns 486,059 shares in the company, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary C. Beckerle sold 12,210 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $34.88, for a total value of $425,884.80. Following the sale, the director now owns 30,406 shares in the company, valued at $1,060,561.28. The trade was a 28.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,210 shares of company stock worth $2,978,785 over the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Exelixis 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.