Allianz Asset Management GmbH Acquires 453,020 Shares of Exelixis, Inc. $EXEL

Allianz Asset Management GmbH grew its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 87.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 972,428 shares of the biotechnology company’s stock after buying an additional 453,020 shares during the quarter. Allianz Asset Management GmbH’s holdings in Exelixis were worth $42,860,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of EXEL. Nuveen LLC bought a new stake in shares of Exelixis in the first quarter valued at approximately $123,310,000. AQR Capital Management LLC grew its stake in Exelixis by 73.8% during the first quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company’s stock valued at $250,869,000 after acquiring an additional 2,926,884 shares in the last quarter. Invesco Ltd. grew its stake in Exelixis by 40.2% during the first quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company’s stock valued at $205,725,000 after acquiring an additional 1,596,948 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in Exelixis by 233.4% during the first quarter. Jupiter Asset Management Ltd. now owns 1,400,270 shares of the biotechnology company’s stock valued at $51,698,000 after acquiring an additional 980,319 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Exelixis by 935.4% during the first quarter. Pacer Advisors Inc. now owns 678,067 shares of the biotechnology company’s stock valued at $25,034,000 after acquiring an additional 612,577 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research note on Wednesday, October 8th. Barclays assumed coverage on shares of Exelixis in a research note on Wednesday, September 17th. They set an “equal weight” rating and a $40.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of Exelixis in a research note on Wednesday, September 17th. They set a “buy” rating and a $47.00 price objective for the company. Benchmark reaffirmed a “neutral” rating on shares of Exelixis in a research note on Monday, June 23rd. Finally, Jefferies Financial Group set a $50.00 price objective on shares of Exelixis and gave the company a “buy” rating in a research note on Tuesday, June 24th. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.42.

Exelixis Price Performance

EXEL stock opened at $39.25 on Friday. Exelixis, Inc. has a one year low of $27.86 and a one year high of $49.62. The stock has a market cap of $10.57 billion, a PE ratio of 18.87, a P/E/G ratio of 0.79 and a beta of 0.38. The firm has a 50 day simple moving average of $38.82 and a two-hundred day simple moving average of $40.00.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The business had revenue of $568.26 million during the quarter, compared to analysts’ expectations of $574.36 million. During the same quarter in the previous year, the company earned $0.84 EPS. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. Exelixis has set its FY 2025 guidance at EPS. On average, research analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Exelixis 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.