BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 12,119 Shares of Exelixis, Inc. $EXEL

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. has increased its stake in Exelixis, Inc. by 74.5%, holding a total of 28,395 shares valued at approximately $1,048,000.
• Several institutional investors have also modified their positions in Exelixis, indicating strong interest, with hedge funds owning 85.27% of the company's stock.
• Exelixis recently reported an EPS of $0.75, exceeding analysts' expectations, although its revenue decreased by 10.8% year-over-year, totaling $568.26 million for the quarter.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 74.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,395 shares of the biotechnology company's stock after buying an additional 12,119 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Exelixis were worth $1,048,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new position in Exelixis during the first quarter worth about $123,310,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Exelixis by 330.4% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company's stock worth $82,730,000 after purchasing an additional 1,907,167 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Exelixis by 40.2% during the first quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company's stock worth $205,725,000 after purchasing an additional 1,596,948 shares during the period. Jupiter Asset Management Ltd. increased its holdings in shares of Exelixis by 233.4% during the first quarter. Jupiter Asset Management Ltd. now owns 1,400,270 shares of the biotechnology company's stock worth $51,698,000 after purchasing an additional 980,319 shares during the period. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Exelixis in the fourth quarter valued at approximately $30,321,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

EXEL has been the topic of several analyst reports. Morgan Stanley reduced their target price on Exelixis from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Tuesday, July 29th. 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. HC Wainwright decreased their target price on shares of Exelixis from $53.00 to $46.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. JMP Securities restated a "market outperform" rating and issued a $50.00 target price on shares of Exelixis in a research report on Tuesday, July 29th. Finally, Stephens upgraded shares of Exelixis from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $29.00 to $60.00 in a research report on Tuesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $44.06.

Insider Activity

In related news, Director Sue Gail Eckhardt sold 18,838 shares of the firm's 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 completion of the transaction, the director owned 21,380 shares in the company, valued at $913,781.20. This trade represents a 46.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack L. Wyszomierski sold 7,535 shares of Exelixis stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $43.09, for a total transaction of $324,683.15. Following the sale, the director 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. 2.82% of the stock is currently owned by company insiders.

Exelixis Stock Performance

Shares of EXEL traded down $0.08 during mid-day trading on Friday, reaching $38.63. The company had a trading volume of 1,509,932 shares, compared to its average volume of 3,944,861. The company has a market capitalization of $10.40 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 0.80 and a beta of 0.29. The company's 50 day simple moving average is $41.56 and its 200 day simple moving average is $39.28. Exelixis, Inc. has a 1-year low of $25.12 and a 1-year high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.12. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The business had revenue of $568.26 million during the quarter, compared to analysts' expectations of $574.36 million. During the same period in the prior year, the company earned $0.84 EPS. The firm's quarterly revenue was down 10.8% compared to the same quarter last year. Exelixis has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

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.