State Board of Administration of Florida Retirement System Sells 11,923 Shares of Exelixis, Inc. $EXEL

by · The Cerbat Gem

State Board of Administration of Florida Retirement System trimmed its holdings in Exelixis, Inc. (NASDAQ:EXEL – Free Report) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 335,365 shares of the biotechnology company’s stock after selling 11,923 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.12% of Exelixis worth $14,781,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp boosted its position in shares of Exelixis by 1.1% during the second quarter. Truist Financial Corp now owns 22,292 shares of the biotechnology company’s stock worth $983,000 after acquiring an additional 250 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in Exelixis by 0.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock worth $4,521,000 after purchasing an additional 274 shares in the last quarter. Frank Rimerman Advisors LLC lifted its stake in Exelixis by 4.7% in the 1st quarter. Frank Rimerman Advisors LLC now owns 6,342 shares of the biotechnology company’s stock worth $234,000 after purchasing an additional 285 shares in the last quarter. Rathbones Group PLC boosted its holdings in shares of Exelixis by 5.3% during the 1st quarter. Rathbones Group PLC now owns 6,847 shares of the biotechnology company’s stock valued at $253,000 after purchasing an additional 347 shares during the last quarter. Finally, Plato Investment Management Ltd grew its position in shares of Exelixis by 6.5% during the second quarter. Plato Investment Management Ltd now owns 6,174 shares of the biotechnology company’s stock valued at $271,000 after purchasing an additional 377 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Down 1.7%

NASDAQ EXEL opened at $43.43 on Tuesday. Exelixis, Inc. has a 52 week low of $31.90 and a 52 week high of $49.62. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 0.79 and a beta of 0.32. The company has a fifty day moving average of $40.32 and a two-hundred day moving average of $40.86.

Exelixis (NASDAQ:EXEL – Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. The firm had revenue of $597.76 million for the quarter, compared to analysts’ expectations of $590.04 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. Exelixis has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current year.

Insiders Place Their Bets

In other Exelixis news, Director Mary C. Beckerle sold 24,622 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $41.93, for a total value of $1,032,400.46. Following the completion of the transaction, the director owned 21,380 shares of the company’s stock, valued at approximately $896,463.40. This trade represents a 53.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stelios Papadopoulos sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $43.55, for a total value of $4,355,000.00. Following the completion of the transaction, the director directly owned 1,189,228 shares of the company’s stock, valued at $51,790,879.40. The trade was a 7.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 245,235 shares of company stock valued at $10,490,600. 2.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EXEL shares. Leerink Partnrs raised Exelixis from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Barclays increased their target price on Exelixis from $40.00 to $41.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Morgan Stanley boosted their price target on shares of Exelixis from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Citigroup reaffirmed a “market outperform” rating on shares of Exelixis in a research note on Tuesday, October 21st. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $45.00 price objective on shares of Exelixis in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.45.

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About Exelixis

(Free Report)

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.

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