Retirement Systems of Alabama Acquires 728 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Retirement Systems of Alabama grew its position in Exelixis, Inc. (NASDAQ:EXEL) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 912,225 shares of the biotechnology company’s stock after acquiring an additional 728 shares during the period. Retirement Systems of Alabama owned 0.32% of Exelixis worth $30,377,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC raised its position in Exelixis by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after purchasing an additional 991,494 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Exelixis in the third quarter worth $14,979,000. Burney Co. acquired a new position in Exelixis in the fourth quarter worth $12,267,000. Robeco Institutional Asset Management B.V. boosted its stake in Exelixis by 263.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 483,064 shares of the biotechnology company’s stock worth $12,536,000 after purchasing an additional 350,026 shares in the last quarter. Finally, Tri Ri Asset Management Corp acquired a new position in Exelixis in the third quarter worth $4,335,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Exelixis

In related news, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 278,665 shares of the company’s stock, valued at approximately $9,828,514.55. This represents a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,588 shares of company stock valued at $3,981,864 over the last three months. Company insiders own 2.85% of the company’s stock.

Exelixis Price Performance

EXEL stock opened at $33.55 on Thursday. The stock has a market capitalization of $9.58 billion, a P/E ratio of 21.51, a P/E/G ratio of 0.72 and a beta of 0.53. The business has a 50-day moving average of $34.50 and a 200-day moving average of $30.35. Exelixis, Inc. has a fifty-two week low of $20.01 and a fifty-two week high of $37.59.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Bank of America lowered Exelixis from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $35.00 to $39.00 in a research note on Tuesday, December 17th. Guggenheim reissued a “buy” rating on shares of Exelixis in a research note on Wednesday, January 22nd. Stifel Nicolaus boosted their target price on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley upgraded Exelixis from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $30.00 to $40.00 in a research report on Monday, January 27th. Finally, UBS Group upped their price objective on Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.06.

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.