New Mexico Educational Retirement Board Sells 8,345 Shares of Exelixis, Inc. (NASDAQ:EXEL)

New Mexico Educational Retirement Board trimmed its position in Exelixis, Inc. (NASDAQ:EXEL) by 12.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,855 shares of the biotechnology company’s stock after selling 8,345 shares during the period. New Mexico Educational Retirement Board’s holdings in Exelixis were worth $1,927,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EXEL. USA Financial Formulas bought a new stake in Exelixis during the fourth quarter worth about $32,000. V Square Quantitative Management LLC bought a new stake in Exelixis during the third quarter worth about $30,000. UMB Bank n.a. raised its holdings in Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 553 shares in the last quarter. Brooklyn Investment Group bought a new stake in Exelixis during the third quarter worth about $42,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Exelixis by 18.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 290 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $35.00 on Monday. The company has a market capitalization of $9.80 billion, a P/E ratio of 22.44, a P/E/G ratio of 0.63 and a beta of 0.53. Exelixis, Inc. has a 1 year low of $20.14 and a 1 year high of $37.59. The business’s 50 day simple moving average is $34.19 and its 200 day simple moving average is $30.93.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results 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 return on equity of 20.99% and a net margin of 22.43%. On average, sell-side analysts anticipate that Exelixis, Inc. will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the sale, the executive vice president now directly owns 278,665 shares in the company, valued at $9,828,514.55. This represents a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s 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 sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EXEL. TD Cowen upped their target price on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. StockNews.com lowered Exelixis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. Stifel Nicolaus upped their price objective on Exelixis from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Bank of America lowered Exelixis from a “buy” rating to a “neutral” rating and upped their price objective for the company from $35.00 to $39.00 in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company upped their price objective on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Exelixis currently has a consensus rating of “Moderate Buy” and an average price target of $37.24.

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.