VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 93,199 Exelixis, Inc. $EXEL

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 93,199 shares of the biotechnology company’s stock, valued at approximately $5,071,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Motiv8 Investments LLC bought a new position in shares of Exelixis during the 4th quarter valued at about $26,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Exelixis during the first quarter worth approximately $27,000. Acumen Wealth Advisors LLC bought a new stake in shares of Exelixis in the 4th quarter worth approximately $29,000. Western Wealth Management LLC purchased a new stake in shares of Exelixis in the 1st quarter valued at $29,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Exelixis by 1,380.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 773 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Trading Down 2.3%

Shares of NASDAQ:EXEL opened at $57.67 on Wednesday. The company has a market cap of $14.29 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 1.76 and a beta of 0.42. The company has a 50-day moving average price of $55.23 and a 200-day moving average price of $49.74. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $59.72.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $628.69 million during the quarter, compared to analyst estimates of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. Exelixis’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, research analysts forecast that Exelixis, Inc. will post 3.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EXEL. HC Wainwright reiterated a “buy” rating and issued a $56.00 target price on shares of Exelixis in a research report on Thursday, July 2nd. Royal Bank Of Canada upped their price target on shares of Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Truist Financial reduced their price objective on Exelixis from $56.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, August 6th. Citizens Jmp boosted their target price on Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research note on Wednesday, June 24th. Finally, Leerink Partners cut Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 target price for the company. in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Exelixis currently has a consensus rating of “Hold” and an average price target of $50.07.

Insider Buying and Selling

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the sale, the director owned 16,079 shares in the company, valued at approximately $862,799.14. This trade represents a 37.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is owned by insiders.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.