Pinebridge Investments L.P. Sells 40,186 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Pinebridge Investments L.P. lessened its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 21.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 149,367 shares of the biotechnology company's stock after selling 40,186 shares during the period. Pinebridge Investments L.P. owned 0.05% of Exelixis worth $4,974,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXEL. Tidal Investments LLC boosted its stake in shares of Exelixis by 2.3% in the 3rd quarter. Tidal Investments LLC now owns 36,366 shares of the biotechnology company's stock valued at $944,000 after purchasing an additional 823 shares during the last quarter. Tri Ri Asset Management Corp bought a new position in Exelixis in the third quarter valued at approximately $4,396,000. Retirement Systems of Alabama grew its holdings in Exelixis by 24.6% during the 3rd quarter. Retirement Systems of Alabama now owns 911,497 shares of the biotechnology company's stock worth $23,653,000 after acquiring an additional 180,021 shares during the period. GAMMA Investing LLC raised its position in shares of Exelixis by 37.2% during the 4th quarter. GAMMA Investing LLC now owns 4,129 shares of the biotechnology company's stock valued at $137,000 after acquiring an additional 1,119 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in shares of Exelixis in the 4th quarter valued at $271,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Trading Up 0.6 %

NASDAQ EXEL traded up $0.25 during mid-day trading on Wednesday, hitting $38.80. The company's stock had a trading volume of 494,988 shares, compared to its average volume of 2,176,392. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.13 and a beta of 0.57. The company's 50 day simple moving average is $36.82 and its 200 day simple moving average is $34.84. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $40.02.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. As a group, research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wells Fargo & Company reissued a "market outperform" rating on shares of Exelixis in a research note on Thursday, April 17th. JMP Securities reissued a "market outperform" rating and issued a $41.00 price target on shares of Exelixis in a report on Thursday, April 17th. UBS Group reaffirmed an "underperform" rating on shares of Exelixis in a research note on Thursday, April 17th. Citigroup boosted their target price on Exelixis from $38.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Finally, Stephens reaffirmed an "equal weight" rating and set a $29.00 price target on shares of Exelixis in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $37.59.

Insider Activity at Exelixis

In other Exelixis news, Director Mary C. Beckerle sold 12,210 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $34.88, for a total value of $425,884.80. Following the completion of the transaction, the director now owns 30,406 shares in the company, valued at $1,060,561.28. This trade represents a 28.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the executive vice president now owns 303,310 shares in the company, valued at approximately $11,216,403.80. This represents a 14.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,343 shares of company stock worth $5,177,234. Insiders own 2.85% of the company's stock.

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.