Retirement Systems of Alabama Increases Stake in Exelixis, Inc. (EXEL)

Retirement Systems of Alabama grew its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 384,980 shares of the biotechnology company’s stock after buying an additional 27,548 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Exelixis worth $6,822,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. James Investment Research Inc. acquired a new stake in Exelixis in the second quarter worth about $133,000. Polaris Greystone Financial Group LLC acquired a new stake in Exelixis in the third quarter worth about $177,000. Fox Run Management L.L.C. acquired a new stake in Exelixis in the third quarter worth about $183,000. Advisors Asset Management Inc. increased its position in Exelixis by 94.7% in the second quarter. Advisors Asset Management Inc. now owns 41,168 shares of the biotechnology company’s stock worth $213,000 after purchasing an additional 20,025 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Exelixis in the second quarter worth about $217,000. Institutional investors own 80.87% of the company’s stock.

A number of analysts recently commented on the company. Stifel Nicolaus lowered their price objective on Exelixis from $29.00 to $25.00 and set a “hold” rating for the company in a research report on Wednesday, August 1st. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, July 31st. BidaskClub lowered Exelixis from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 11th. Morgan Stanley assumed coverage on Exelixis in a research report on Monday, September 10th. They issued an “underweight” rating and a $19.00 price objective for the company. Finally, Goldman Sachs Group assumed coverage on Exelixis in a research report on Monday, September 17th. They issued a “neutral” rating and a $22.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $29.78.

In other news, Director George A. Scangos sold 25,000 shares of the business’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $16.85, for a total transaction of $421,250.00. Following the completion of the transaction, the director now directly owns 1,561,981 shares in the company, valued at approximately $26,319,379.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Morrissey sold 100,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $21.10, for a total value of $2,110,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 638,128 shares of company stock valued at $12,388,130 over the last 90 days. Corporate insiders own 4.80% of the company’s stock.

Shares of EXEL stock opened at $17.41 on Friday. The stock has a market capitalization of $5.19 billion, a P/E ratio of 14.75 and a beta of 2.29. Exelixis, Inc. has a 12 month low of $13.42 and a 12 month high of $32.20.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Thursday, November 1st. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.22. The company had revenue of $225.40 million during the quarter, compared to analyst estimates of $174.14 million. Exelixis had a return on equity of 63.91% and a net margin of 49.53%. The company’s revenue for the quarter was up 47.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 EPS. Analysts anticipate that Exelixis, Inc. will post 1.03 EPS for the current year.

About Exelixis

Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. 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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