Texas Permanent School Fund Corp Reduces Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Texas Permanent School Fund Corp decreased its position in Exelixis, Inc. (NASDAQ:EXEL) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 265,352 shares of the biotechnology company’s stock after selling 3,287 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.09% of Exelixis worth $6,297,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of EXEL. Fisher Asset Management LLC increased its holdings in Exelixis by 232.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 728 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Exelixis during the fourth quarter valued at approximately $26,000. GAMMA Investing LLC bought a new position in shares of Exelixis during the fourth quarter valued at approximately $27,000. Rise Advisors LLC purchased a new stake in Exelixis in the first quarter worth $28,000. Finally, USA Financial Formulas boosted its holdings in Exelixis by 1,548.0% in the fourth quarter. USA Financial Formulas now owns 2,060 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 1,935 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on EXEL shares. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 target price on shares of Exelixis in a research report on Wednesday, April 10th. Stephens assumed coverage on Exelixis in a research report on Tuesday, May 14th. They issued an “equal weight” rating and a $23.00 target price for the company. Barclays lowered Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a research report on Thursday, April 11th. William Blair reiterated an “outperform” rating on shares of Exelixis in a report on Wednesday, May 1st. Finally, TheStreet raised shares of Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, March 18th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.13.

Insider Buying and Selling at Exelixis

In other news, Director Jack L. Wyszomierski sold 10,923 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $21.37, for a total value of $233,424.51. Following the transaction, the director now directly owns 338,948 shares in the company, valued at approximately $7,243,318.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Exelixis news, Director David Edward Johnson bought 200,000 shares of Exelixis stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of $20.32 per share, with a total value of $4,064,000.00. Following the completion of the acquisition, the director now owns 1,300,730 shares in the company, valued at $26,430,833.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack L. Wyszomierski sold 10,923 shares of Exelixis stock in a transaction on Monday, May 13th. The stock was sold at an average price of $21.37, for a total transaction of $233,424.51. Following the transaction, the director now owns 338,948 shares in the company, valued at approximately $7,243,318.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,896 shares of company stock worth $660,677. Insiders own 2.85% of the company’s stock.

Exelixis Price Performance

Shares of Exelixis stock traded up $0.01 during trading on Friday, hitting $22.56. 43,363 shares of the company’s stock traded hands, compared to its average volume of 2,094,869. Exelixis, Inc. has a 1 year low of $18.64 and a 1 year high of $24.34. The business has a 50-day simple moving average of $21.68 and a 200-day simple moving average of $22.26. The stock has a market capitalization of $6.84 billion, a P/E ratio of 35.23, a PEG ratio of 0.54 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). The company had revenue of $425.23 million for the quarter, compared to analysts’ expectations of $461.04 million. Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 EPS. On average, equities analysts predict that Exelixis, Inc. will post 1.15 earnings per share for the current fiscal year.

About Exelixis

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.