Brandywine Global Investment Management LLC Purchases New Holdings in Exelixis, Inc. $EXEL

Key Points

• Brandywine Global Investment Management has invested approximately $5.13 million in Exelixis, Inc., acquiring 138,855 shares in the first quarter, marking their entry as major stakeholders owning about 0.05% of the company.
• Exelixis recently reported earnings of $0.75 per share for the quarter, exceeding expectations, even as total revenue declined by 10.8% year-over-year to $568.26 million.
• Analysts have a generally positive outlook on Exelixis, with a consensus rating of "Moderate Buy" and several firms raising their price targets, suggesting strong future growth potential.

Brandywine Global Investment Management LLC acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 138,855 shares of the biotechnology company's stock, valued at approximately $5,127,000. Brandywine Global Investment Management LLC owned about 0.05% of Exelixis at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EXEL. Envestnet Asset Management Inc. increased its holdings in Exelixis by 17.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 200,228 shares of the biotechnology company's stock valued at $6,668,000 after purchasing an additional 29,892 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Exelixis in the fourth quarter valued at about $17,046,000. Sterling Capital Management LLC increased its holdings in Exelixis by 7.8% in the fourth quarter. Sterling Capital Management LLC now owns 6,627 shares of the biotechnology company's stock valued at $221,000 after purchasing an additional 477 shares during the last quarter. Barclays PLC increased its holdings in Exelixis by 8.9% in the fourth quarter. Barclays PLC now owns 348,009 shares of the biotechnology company's stock valued at $11,587,000 after purchasing an additional 28,420 shares during the last quarter. Finally, Mariner LLC increased its holdings in Exelixis by 13.1% in the fourth quarter. Mariner LLC now owns 20,373 shares of the biotechnology company's stock valued at $678,000 after purchasing an additional 2,355 shares during the last quarter. Institutional investors own 85.27% of the company's stock.

Insider Transactions at Exelixis

In related news, Director Jack L. Wyszomierski sold 7,535 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $43.09, for a total transaction of $324,683.15. Following the completion of the transaction, the director directly owned 358,882 shares in the company, valued at approximately $15,464,225.38. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sue Gail Eckhardt sold 18,838 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $42.74, for a total value of $805,136.12. Following the transaction, the director owned 21,380 shares of the company's stock, valued at approximately $913,781.20. The trade was a 46.84% 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 Down 0.2%

Shares of NASDAQ:EXEL traded down $0.08 during mid-day trading on Friday, reaching $38.63. 1,509,932 shares of the stock were exchanged, compared to its average volume of 3,944,861. The company has a market cap of $10.40 billion, a P/E ratio of 18.57, a P/E/G ratio of 0.80 and a beta of 0.29. Exelixis, Inc. has a one year low of $25.12 and a one year high of $49.62. The stock's 50 day simple moving average is $41.56 and its 200-day simple moving average is $39.32.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted 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. The business had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.Exelixis's quarterly revenue was down 10.8% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. Analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EXEL. Stifel Nicolaus increased their price target on Exelixis from $38.00 to $41.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Barclays increased their price target on Exelixis from $29.00 to $40.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Royal Bank Of Canada lowered their price target on Exelixis from $50.00 to $45.00 and set a "sector perform" rating for the company in a report on Tuesday, July 29th. HC Wainwright lowered their price target on Exelixis from $53.00 to $46.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Finally, Truist Financial lowered their price target on Exelixis from $56.00 to $49.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Thirteen equities 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $44.06.

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.