Caisse DE Depot ET Placement DU Quebec Has $98.13 Million Stock Position in Exelixis, Inc. $EXEL

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Exelixis, Inc. by 7.0% during Q1, holding approximately $98.13 million in stock, which represents about 0.96% of the company.
• Several hedge funds adjusted their holdings in Exelixis, with notables like Virtus Advisers LLC increasing their stake by 30.8% during the same quarter.
• Exelixis reported $0.75 earnings per share for the last quarter, surpassing forecasts and has set a FY 2025 guidance at $2.04 EPS.

Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,657,782 shares of the biotechnology company's stock after purchasing an additional 173,387 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.96% of Exelixis worth $98,125,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Virtus Advisers LLC increased its stake in shares of Exelixis by 30.8% during the 1st quarter. Virtus Advisers LLC now owns 13,000 shares of the biotechnology company's stock worth $480,000 after purchasing an additional 3,061 shares during the last quarter. Comerica Bank increased its stake in shares of Exelixis by 1.2% during the 1st quarter. Comerica Bank now owns 88,723 shares of the biotechnology company's stock worth $3,276,000 after purchasing an additional 1,042 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Exelixis by 14.8% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,378 shares of the biotechnology company's stock worth $124,000 after purchasing an additional 436 shares during the last quarter. Kaufman Rossin Wealth LLC acquired a new position in shares of Exelixis during the 1st quarter worth $269,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in Exelixis by 4,377.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 212,823 shares of the biotechnology company's stock valued at $7,857,000 after buying an additional 208,070 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Activity

In related news, Director Sue Gail Eckhardt sold 18,838 shares of Exelixis stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $42.74, for a total transaction of $805,136.12. Following the completion of the transaction, the director directly owned 21,380 shares of the company's stock, valued at $913,781.20. This trade represents a 46.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jack L. Wyszomierski sold 7,535 shares of Exelixis stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total transaction of $324,683.15. Following the transaction, the director directly owned 358,882 shares of the company's stock, valued at $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. Company insiders own 2.82% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Jefferies Financial Group set a $50.00 target price on shares of Exelixis and gave the company a "buy" rating in a research note on Tuesday, June 24th. Bank of America raised their target price on shares of Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. JMP Securities reiterated a "market outperform" rating and issued a $50.00 target price on shares of Exelixis in a research note on Tuesday, July 29th. Barclays raised their target price 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. Finally, UBS Group set a $38.00 target price on shares of Exelixis and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Thirteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $44.06.

Exelixis Price Performance

Shares of Exelixis stock opened at $37.90 on Tuesday. Exelixis, Inc. has a fifty-two week low of $25.12 and a fifty-two week high of $49.62. The firm has a fifty day moving average price of $41.48 and a two-hundred day moving average price of $39.40. The company has a market cap of $10.20 billion, a PE ratio of 18.22, 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 results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.12. The firm had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The business's revenue was down 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. Analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

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.

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