Allspring Global Investments Holdings LLC Acquires 323,895 Shares of Exelixis, Inc. $EXEL

Allspring Global Investments Holdings LLC grew its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 23.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,707,715 shares of the biotechnology company's stock after acquiring an additional 323,895 shares during the period. Allspring Global Investments Holdings LLC owned 0.67% of Exelixis worth $75,208,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of EXEL. Wealth Enhancement Advisory Services LLC raised its stake in shares of Exelixis by 62.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 187,154 shares of the biotechnology company's stock valued at $8,224,000 after acquiring an additional 71,987 shares in the last quarter. Stephens Investment Management Group LLC boosted its position in Exelixis by 1.1% during the fourth quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company's stock worth $111,303,000 after purchasing an additional 28,265 shares during the period. Private Client Services LLC acquired a new position in Exelixis during the fourth quarter valued at approximately $1,992,000. Nisa Investment Advisors LLC grew its holdings in Exelixis by 692.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 140,446 shares of the biotechnology company's stock valued at $6,156,000 after purchasing an additional 122,720 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Exelixis by 72.1% in the fourth quarter. SG Americas Securities LLC now owns 36,288 shares of the biotechnology company's stock valued at $1,591,000 after purchasing an additional 15,203 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on EXEL shares. Stifel Nicolaus boosted their price objective on shares of Exelixis from $44.00 to $47.00 and gave the stock a "hold" rating in a research note on Wednesday, May 6th. Citizens Jmp raised their target price on shares of Exelixis from $50.00 to $55.00 and gave the company a "market outperform" rating in a research note on Wednesday, June 24th. Morgan Stanley reiterated a "positive" rating on shares of Exelixis in a report on Monday, June 22nd. UBS Group reissued a "buy" rating on shares of Exelixis in a research report on Thursday, July 2nd. Finally, Wall Street Zen upgraded shares of Exelixis from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $48.80.

Exelixis Price Performance

Shares of EXEL stock opened at $55.92 on Friday. Exelixis, Inc. has a one year low of $33.76 and a one year high of $57.57. The stock has a fifty day moving average price of $52.64 and a 200 day moving average price of $46.79. The stock has a market cap of $14.06 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 1.60 and a beta of 0.42.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The firm had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The business's revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts anticipate that Exelixis, Inc. will post 3.16 EPS for the current year.

Insider Transactions at Exelixis

In other Exelixis news, Director Maria C. Freire sold 20,634 shares of the firm's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $46.00, for a total transaction of $949,164.00. Following the completion of the transaction, the director owned 100,819 shares in the company, valued at $4,637,674. This trade represents a 16.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George Poste sold 60,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $45.71, for a total value of $2,742,600.00. Following the completion of the transaction, the director directly owned 118,832 shares of the company's stock, valued at approximately $5,431,810.72. The trade was a 33.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 219,170 shares of company stock valued at $10,620,641. Corporate insiders own 2.60% of the company's stock.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis's translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company's most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.

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