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

Ontario Teachers Pension Plan Board trimmed its stake in Exelixis, Inc. (NASDAQ:EXEL) by 70.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,823 shares of the biotechnology company’s stock after selling 86,517 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Exelixis were worth $930,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of EXEL. Farallon Capital Management LLC lifted its stake in shares of Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after acquiring an additional 424,000 shares during the period. Renaissance Technologies LLC raised its position in Exelixis by 0.4% during the second quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock worth $340,714,000 after acquiring an additional 61,350 shares during the last quarter. LSV Asset Management raised its position in Exelixis by 107.7% during the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after acquiring an additional 2,989,021 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Exelixis by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock worth $115,434,000 after buying an additional 349,837 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Exelixis by 12.7% during the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after buying an additional 370,199 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Exelixis

In other Exelixis news, Director George Poste sold 30,000 shares of Exelixis stock in a transaction on Friday, November 1st. The shares were sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the sale, the director now owns 169,020 shares in the company, valued at $5,746,680. The trade was a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the sale, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 289,736 shares of company stock worth $9,471,510. Insiders own 2.85% of the company’s stock.

Exelixis Price Performance

Shares of EXEL opened at $34.65 on Thursday. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 0.88 and a beta of 0.51. Exelixis, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $36.60. The business’s 50-day moving average is $29.55 and its 200-day moving average is $25.41.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same quarter last year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts expect that Exelixis, Inc. will post 1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on EXEL shares. UBS Group started coverage on shares of Exelixis in a report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $29.00 target price on shares of Exelixis in a research report on Wednesday, September 18th. TD Cowen upped their price target on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, October 21st. Stifel Nicolaus boosted their target price on shares of Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley upped their price target on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.44.

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.