Profund Advisors LLC lifted its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL – Free Report) by 36.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,521 shares of the biotechnology company’s stock after acquiring an additional 11,267 shares during the period. Profund Advisors LLC’s holdings in Exelixis were worth $2,484,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of EXEL. BlackRock Inc. acquired a new position in Exelixis in the 2nd quarter valued at about $1,581,991,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Exelixis during the second quarter worth approximately $113,951,000. Bank of New York Mellon Corp acquired a new stake in shares of Exelixis during the second quarter worth $107,803,000. Jupiter Topco LLC acquired a new stake in shares of Exelixis during the second quarter worth $67,299,000. Finally, First Trust Advisors LP lifted its holdings in shares of Exelixis by 62.0% during the first quarter. First Trust Advisors LP now owns 2,534,992 shares of the biotechnology company’s stock worth $108,726,000 after purchasing an additional 970,144 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.
Exelixis Stock Performance
Shares of EXEL stock opened at $69.39 on Monday. The stock has a fifty day moving average price of $59.39 and a 200 day moving average price of $50.92. The stock has a market cap of $16.93 billion, a PE ratio of 20.78, a P/E/G ratio of 1.95 and a beta of 0.45. Exelixis, Inc. has a 1 year low of $36.00 and a 1 year high of $72.10.
Exelixis (NASDAQ:EXEL – Get Free Report) last posted its earnings results on Thursday, October 29th. The biotechnology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.05. The company had revenue of $658.70 million for the quarter, compared to analyst estimates of $646.51 million. Exelixis had a return on equity of 45.54% and a net margin of 35.45%. Exelixis’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 earnings per share. As a group, equities research analysts predict that Exelixis, Inc. will post 3.19 earnings per share for the current year.
Analyst Ratings Changes
Several research firms have recently commented on EXEL. BMO Capital Markets restated a “market perform” rating and issued a $60.00 target price on shares of Exelixis in a research note on Friday. Stifel Nicolaus boosted their price target on shares of Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. William Blair reissued an “outperform” rating on shares of Exelixis in a report on Friday, September 11th. TD Cowen raised their price objective on shares of Exelixis from $55.00 to $76.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wall Street Zen lowered Exelixis from a “strong-buy” rating to a “buy” rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Exelixis presently has an average rating of “Hold” and a consensus price target of $55.21.
Check Out Our Latest Research Report on Exelixis
Exelixis News Summary
Here are the key news stories impacting Exelixis this week:
- Positive Sentiment: Q3 earnings and revenue beat expectations: Exelixis reported adjusted EPS of $0.94 versus the $0.89 consensus estimate and revenue of $658.7 million versus expectations of approximately $646.5 million. Revenue increased 10.2% year over year. EXEL Q3 Earnings Beat Estimates on Strong Cabometyx Sales
- Positive Sentiment: CABOMETYX remained the key growth driver: U.S. net product revenue reached roughly $605 million, with franchise revenue growth of about 11% year over year, supporting confidence in Exelixis’ core commercial business.
- Positive Sentiment: Capital returns and financial strength supported sentiment: The company repurchased approximately $250 million of stock during the quarter and ended the period with about $1.4 billion in cash and marketable securities.
- Positive Sentiment: Pipeline catalyst is approaching: Exelixis outlined a March 3, 2027 FDA decision date for zanzalintinib, while continuing preparations for additional pivotal studies. Exelixis outlines March 3, 2027 PDUFA for zanza
- Positive Sentiment: TD Cowen raised its price target to $76 from $55 and assigned a Buy rating, adding to the bullish reaction following the earnings release. TD Cowen Exelixis ratings
- Neutral Sentiment: Analyst views remain mixed: Morgan Stanley raised its target to $60 but maintained Equalweight, while Truist, RBC, Barclays and other firms also lifted targets that remain below the current trading level.
- Negative Sentiment: Insider trading presents a cautionary signal: Six reported insider open-market transactions over the past six months were sales, with no purchases. This may temper enthusiasm despite the favorable quarterly results.
Insider Activity
In related news, Director Mary Beckerle sold 9,812 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the sale, the director directly owned 16,079 shares in the company, valued at $862,799.14. The trade was a 37.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is owned by company insiders.
Exelixis Profile
Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company’s research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.
Exelixis’ lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.
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