Vanguard Group Inc. Sells 1,202,893 Shares of Exelixis, Inc. $EXEL

Vanguard Group Inc. decreased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,469,094 shares of the biotechnology company’s stock after selling 1,202,893 shares during the period. Vanguard Group Inc. owned 10.20% of Exelixis worth $1,210,700,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXEL. Empowered Funds LLC lifted its position in shares of Exelixis by 41.2% during the 2nd quarter. Empowered Funds LLC now owns 427,326 shares of the biotechnology company’s stock worth $18,834,000 after purchasing an additional 124,723 shares during the last quarter. Westover Capital Advisors LLC increased its position in Exelixis by 15.3% in the 2nd quarter. Westover Capital Advisors LLC now owns 47,719 shares of the biotechnology company’s stock worth $2,103,000 after buying an additional 6,336 shares during the period. Mount Lucas Management LP acquired a new position in shares of Exelixis during the second quarter worth approximately $599,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Exelixis by 9.1% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 457,465 shares of the biotechnology company’s stock valued at $20,163,000 after acquiring an additional 38,347 shares during the period. Finally, Ontario Teachers Pension Plan Board boosted its position in shares of Exelixis by 39.5% in the second quarter. Ontario Teachers Pension Plan Board now owns 207,518 shares of the biotechnology company’s stock valued at $9,146,000 after acquiring an additional 58,792 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and set a $45.00 target price on shares of Exelixis in a research note on Tuesday, October 21st. William Blair restated an “outperform” rating on shares of Exelixis in a report on Tuesday, July 29th. HC Wainwright increased their target price on shares of Exelixis from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Barclays lifted their target price on Exelixis from $40.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company cut their price target on Exelixis from $36.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.45.

Exelixis Trading Up 1.7%

NASDAQ EXEL opened at $42.51 on Friday. Exelixis, Inc. has a 1-year low of $31.90 and a 1-year high of $49.62. The company has a market capitalization of $11.40 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 0.79 and a beta of 0.32. The stock’s 50 day moving average is $39.86 and its two-hundred day moving average is $40.66.

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

Insider Activity

In other news, Director Stelios Papadopoulos sold 100,000 shares of the business’s stock in a transaction on 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 sale, the director owned 1,189,228 shares in the company, valued at approximately $51,790,879.40. The trade was a 7.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary C. Beckerle sold 24,622 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $41.93, for a total transaction of $1,032,400.46. Following the sale, the director owned 21,380 shares of the company’s stock, valued at $896,463.40. This trade represents a 53.52% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 173,005 shares of company stock worth $7,443,678. Corporate insiders own 2.82% of the company’s stock.

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.