Intech Investment Management LLC Increases Stake in Exelixis, Inc. $EXEL

Intech Investment Management LLC grew its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 15.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 451,328 shares of the biotechnology company’s stock after buying an additional 59,306 shares during the period. Intech Investment Management LLC’s holdings in Exelixis were worth $19,892,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hemington Wealth Management lifted its stake in shares of Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock worth $28,000 after buying an additional 522 shares in the last quarter. Byrne Asset Management LLC raised its holdings in Exelixis by 129.0% in the 2nd quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 400 shares during the last quarter. Family Legacy Financial Solutions LLC purchased a new position in Exelixis in the 2nd quarter worth approximately $33,000. Costello Asset Management INC acquired a new position in shares of Exelixis during the 1st quarter worth approximately $39,000. Finally, Harbour Investments Inc. boosted its holdings in shares of Exelixis by 900.0% during the 1st quarter. Harbour Investments Inc. now owns 1,100 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 990 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Activity at Exelixis

In related news, Director Mary C. Beckerle sold 24,622 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $41.93, for a total value of $1,032,400.46. Following the sale, the director owned 21,380 shares in the company, valued at approximately $896,463.40. The trade was a 53.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stelios Papadopoulos sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $43.55, for a total value of $4,355,000.00. Following the transaction, the director owned 1,189,228 shares of the company’s stock, valued at $51,790,879.40. This trade represents a 7.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 173,005 shares of company stock worth $7,443,678. 2.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on EXEL shares. Wells Fargo & Company reduced their price objective on Exelixis from $36.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. HC Wainwright boosted their price target on shares of Exelixis from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research report on Wednesday, October 8th. 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 target price on the stock. Finally, Barclays increased their price target on shares of Exelixis from $40.00 to $41.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.45.

Exelixis Price Performance

Shares of EXEL opened at $41.65 on Friday. The firm has a 50-day simple moving average of $39.47 and a two-hundred day simple moving average of $40.53. Exelixis, Inc. has a 1-year low of $31.90 and a 1-year high of $49.62. The stock has a market cap of $11.17 billion, a PE ratio of 20.02, a P/E/G ratio of 0.79 and a beta of 0.32.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.10. The firm had revenue of $597.76 million during the quarter, compared to the consensus estimate of $590.04 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 EPS. Exelixis has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal 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.