LGT Fund Management Co Ltd. Buys 21,171 Shares of Exelixis, Inc. $EXEL

LGT Fund Management Co Ltd. raised its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 27.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,005 shares of the biotechnology company’s stock after purchasing an additional 21,171 shares during the period. LGT Fund Management Co Ltd.’s holdings in Exelixis were worth $4,275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in EXEL. Nuveen LLC bought a new position in shares of Exelixis in the 1st quarter valued at about $123,310,000. AQR Capital Management LLC lifted its holdings in shares of Exelixis by 73.8% in the 1st 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 during the last quarter. Invesco Ltd. lifted its holdings in shares of Exelixis by 40.2% in the 1st 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 during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Exelixis by 233.4% in the 1st 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 during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Exelixis by 935.4% in the 1st 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 during the last quarter. Institutional investors own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

EXEL has been the topic of a number of recent analyst reports. Stephens raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $29.00 to $60.00 in a research report on Tuesday, June 24th. Morgan Stanley increased their price objective on shares of Exelixis from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 17th. Barclays initiated coverage on shares of Exelixis in a research report on Wednesday, September 17th. They issued an “equal weight” rating and a $40.00 price objective on the stock. Wall Street Zen raised shares of Exelixis from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Jefferies Financial Group set a $50.00 price objective on shares of Exelixis and gave the stock a “buy” rating in a research report on Tuesday, June 24th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Exelixis has a consensus rating of “Moderate Buy” and an average price target of $44.42.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $40.09 on Friday. The firm has a market cap of $10.79 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 0.85 and a beta of 0.38. The firm’s 50 day simple moving average is $38.57 and its 200-day simple moving average is $39.85. Exelixis, Inc. has a one year low of $25.17 and a one year high of $49.62.

Exelixis (NASDAQ:EXEL) last issued its 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. The business had revenue of $568.26 million for the quarter, compared to analyst estimates of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. Equities research analysts predict that Exelixis, Inc. will post 2.04 EPS 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.