California State Teachers Retirement System Acquires 14,488,217 Shares of Exelixis, Inc. $EXEL

Key Points

• California State Teachers Retirement System sharply increased its Exelixis stake by purchasing 14.49 million additional shares, bringing its ownership to approximately 5.97%, valued at $804.5 million. Institutional investors collectively own 85.27% of the company.
• Exelixis reported quarterly EPS of $0.91, beating estimates of $0.85, while revenue rose 10.6% year over year to $628.7 million. Analysts maintain a consensus “Hold” rating with an average price target of $50.07.
• The FDA extended its review of zanzalintinib for metastatic colorectal cancer by three months, moving the decision target to March 2027. The delay postpones potential commercial expansion and adds near-term uncertainty, but does not represent a rejection or change to the company’s current earnings outlook.

California State Teachers Retirement System increased its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 4,875.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,785,373 shares of the biotechnology company's stock after purchasing an additional 14,488,217 shares during the quarter. California State Teachers Retirement System owned approximately 5.97% of Exelixis worth $804,472,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of EXEL. Motiv8 Investments LLC bought a new position in shares of Exelixis in the fourth quarter valued at approximately $26,000. Cassaday & Co Wealth Management LLC purchased a new stake in Exelixis in the 1st quarter worth approximately $27,000. Western Wealth Management LLC bought a new position in Exelixis in the 1st quarter valued at $29,000. Acumen Wealth Advisors LLC purchased a new position in shares of Exelixis during the 4th quarter valued at $29,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Exelixis by 1,380.4% during 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. Hedge funds and other institutional investors own 85.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. William Blair reissued an "outperform" rating on shares of Exelixis in a research note on Friday. Citizens Jmp raised their price target on Exelixis from $50.00 to $55.00 and gave the company a "market outperform" rating in a report on Wednesday, June 24th. Barclays lifted their price target on Exelixis from $45.00 to $49.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 14th. HC Wainwright reissued a "buy" rating and set a $56.00 price objective on shares of Exelixis in a report on Thursday, July 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Exelixis from $40.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $50.07.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $56.12 on Monday. The company has a market cap of $13.91 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.67 and a beta of 0.42. The company has a 50-day moving average price of $55.35 and a 200-day moving average price of $50.02. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $59.72.

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

Insider Buying and Selling

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

Key Headlines Impacting Exelixis

Here are the key news stories impacting Exelixis this week:

• Neutral Sentiment: The FDA extended its review of Exelixis’ application for zanzalintinib in combination with atezolizumab for patients with metastatic colorectal cancer by three months. The new decision target is March 2027. The extension does not indicate a rejection, but it delays regulatory clarity. U.S. FDA extends review of Exelixis' cancer drug
• Negative Sentiment: The delayed decision pushes back the potential launch and commercial ramp of zanzalintinib in colorectal cancer, reducing near-term visibility for investors and contributing to concern about Exelixis’ revenue outlook. Analysts are also assessing the effect of the announcement on stock volatility. Exelixis Stock Slips as FDA Delays Cancer Drug Review, Analyst Weighs In
• Neutral Sentiment: The FDA action follows Exelixis’ broader investor presentation and legal developments, but the reports provide no new change to the company’s existing earnings outlook or indication of a problem with its currently marketed products. Exelixis Presents at Citigroup's Biopharma Back to School Summit 2026

Exelixis Profile

Exelixis, Inc NASDAQ: EXEL is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company's research and development activities center on targeted therapies designed to address biological pathways involved in tumor growth and progression.

Exelixis' principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with advanced renal cell carcinoma, hepatocellular carcinoma and radioactive iodine-refractory differentiated thyroid cancer.

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