Exelixis, Inc. (NASDAQ:EXEL) Stock Holdings Reduced by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 32.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 433,400 shares of the biotechnology company's stock after selling 207,000 shares during the period. Canada Pension Plan Investment Board owned about 0.15% of Exelixis worth $14,432,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. USA Financial Formulas acquired a new position in Exelixis in the 4th quarter valued at about $32,000. Principal Securities Inc. raised its holdings in Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 373 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Exelixis during the 4th quarter worth $39,000. UMB Bank n.a. lifted its holdings in shares of Exelixis by 68.4% in the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock valued at $45,000 after purchasing an additional 553 shares in the last quarter. Finally, Crowley Wealth Management Inc. purchased a new stake in Exelixis in the 4th quarter valued at approximately $50,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 52,636 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.98, for a total value of $1,946,479.28. Following the completion of the sale, the executive vice president now directly owns 303,310 shares of the company's stock, valued at approximately $11,216,403.80. This represents a 14.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack L. Wyszomierski sold 8,768 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $37.80, for a total transaction of $331,430.40. Following the completion of the sale, the director now owns 356,605 shares in the company, valued at $13,479,669. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,343 shares of company stock valued at $5,177,234. Corporate insiders own 2.85% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a research report on Thursday, February 13th. HC Wainwright reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Exelixis in a research note on Thursday, March 27th. Oppenheimer cut shares of Exelixis from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $41.00 to $33.00 in a research report on Friday, January 24th. JMP Securities reissued a "market outperform" rating and set a $41.00 target price on shares of Exelixis in a research report on Thursday, April 17th. Finally, Guggenheim restated a "buy" rating and set a $42.00 target price on shares of Exelixis in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.59.

Exelixis Stock Performance

Shares of NASDAQ:EXEL traded up $0.22 during trading hours on Friday, hitting $37.43. The stock had a trading volume of 1,709,889 shares, compared to its average volume of 2,179,648. The stock's fifty day simple moving average is $36.68 and its 200 day simple moving average is $34.61. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $40.02.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced 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 23.52% and a net margin of 24.04%. As a group, research analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current year.

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.