BI Asset Management Fondsmaeglerselskab A S Increases Position in Exelixis, Inc. $EXEL

Key Points

• BI Asset Management Fondsmaeglerselskab A S drastically increased its holdings in Exelixis by 4,377.7% during the first quarter, owning approximately $7.86 million in stock at the end of the quarter.
• Exelixis reported earnings of $0.75 per share for the last quarter, exceeding analysts' expectations, though its revenue was down 10.8% year-over-year.
• Analyst ratings for Exelixis show a mix of opinions, with thirteen analysts rating it as a Buy, eight as a Hold, and one as a Sell, indicating a general consensus price target of $44.06.

BI Asset Management Fondsmaeglerselskab A S raised its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 4,377.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 212,823 shares of the biotechnology company's stock after buying an additional 208,070 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned about 0.08% of Exelixis worth $7,857,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of EXEL. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Exelixis by 74.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 28,395 shares of the biotechnology company's stock valued at $1,048,000 after acquiring an additional 12,119 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Exelixis by 2.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,795,074 shares of the biotechnology company's stock valued at $287,794,000 after acquiring an additional 164,134 shares in the last quarter. Quantbot Technologies LP grew its stake in Exelixis by 38.5% during the 1st quarter. Quantbot Technologies LP now owns 15,358 shares of the biotechnology company's stock valued at $567,000 after acquiring an additional 4,266 shares in the last quarter. Wellington Management Group LLP grew its stake in Exelixis by 7.1% during the 1st quarter. Wellington Management Group LLP now owns 148,198 shares of the biotechnology company's stock valued at $5,471,000 after acquiring an additional 9,790 shares in the last quarter. Finally, Brooklyn Investment Group grew its stake in Exelixis by 65.4% during the 1st quarter. Brooklyn Investment Group now owns 2,764 shares of the biotechnology company's stock valued at $102,000 after acquiring an additional 1,093 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Buying and Selling

In other Exelixis news, Director Sue Gail Eckhardt sold 18,838 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $42.74, for a total value of $805,136.12. Following the sale, the director directly owned 21,380 shares of the company's stock, valued at approximately $913,781.20. This represents a 46.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jack L. Wyszomierski sold 7,535 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total transaction of $324,683.15. Following the completion of the sale, the director directly owned 358,882 shares in the company, valued at approximately $15,464,225.38. This represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.85% of the stock is owned by corporate insiders.

Exelixis Price Performance

Shares of EXEL stock traded down $0.3810 during trading hours on Monday, hitting $38.2490. The company had a trading volume of 348,693 shares, compared to its average volume of 3,027,424. The company's fifty day moving average is $41.56 and its 200 day moving average is $39.36. Exelixis, Inc. has a fifty-two week low of $25.12 and a fifty-two week high of $49.62. The stock has a market capitalization of $10.30 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 0.80 and a beta of 0.29.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.63 by $0.12. The firm 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 business's revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. Equities analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EXEL has been the subject of several research reports. Barclays upped their price objective on shares of Exelixis from $29.00 to $40.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Royal Bank Of Canada dropped their price objective on shares of Exelixis from $50.00 to $45.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 29th. Stifel Nicolaus boosted their target price on shares of Exelixis from $38.00 to $41.00 and gave the company a "hold" rating in a report on Tuesday, July 29th. Benchmark reiterated a "neutral" rating on shares of Exelixis in a report on Monday, June 23rd. Finally, Guggenheim reiterated a "buy" rating and issued a $45.00 target price on shares of Exelixis in a report on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Exelixis has a consensus rating of "Moderate Buy" and a consensus price target of $44.06.

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.