Exelixis, Inc. $EXEL Shares Sold by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC reduced its stake in Exelixis, Inc. by 49.8%, selling 43,008 shares, and now holds 43,284 shares worth approximately $1.6 million.
• Exelixis reported a quarterly earnings per share of $0.75, exceeding expectations, despite a 10.8% decrease in revenue compared to the previous year.
• Analysts have mixed ratings for Exelixis, with the average rating being a "Moderate Buy" and a price target of $44.06 following recent changes from various brokerages.

Cambiar Investors LLC decreased its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 49.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,284 shares of the biotechnology company's stock after selling 43,008 shares during the quarter. Cambiar Investors LLC's holdings in Exelixis were worth $1,598,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its stake in Exelixis by 32.2% in the 1st quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company's stock valued at $201,000 after acquiring an additional 1,328 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Exelixis during the 4th quarter worth $17,046,000. Park Avenue Securities LLC raised its holdings in shares of Exelixis by 10.6% during the 1st quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company's stock worth $272,000 after acquiring an additional 707 shares during the period. Envestnet Asset Management Inc. raised its holdings in Exelixis by 23.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company's stock valued at $9,159,000 after buying an additional 47,845 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new stake in Exelixis in the 1st quarter valued at about $233,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. JMP Securities restated a "market outperform" rating and issued a $50.00 price objective on shares of Exelixis in a report on Tuesday, July 29th. HC Wainwright decreased their target price on Exelixis from $53.00 to $46.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Wall Street Zen lowered Exelixis from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Bank of America upped their price objective on shares of Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. Finally, Morgan Stanley cut their price objective on Exelixis from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Tuesday, July 29th. Thirteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Exelixis has a consensus rating of "Moderate Buy" and a consensus target price of $44.06.

Exelixis Stock Down 0.2%

Shares of NASDAQ EXEL traded down $0.08 during midday trading on Friday, hitting $38.63. The stock had a trading volume of 1,509,557 shares, compared to its average volume of 3,040,388. The company has a market capitalization of $10.40 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 0.78 and a beta of 0.29. Exelixis, Inc. has a 1-year low of $25.12 and a 1-year high of $49.62. The company has a fifty day moving average price of $41.62 and a 200 day moving average price of $39.25.

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 for the quarter, beating the consensus estimate of $0.63 by $0.12. The business had revenue of $568.26 million for the quarter, compared to analyst estimates of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The company's revenue was down 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. On average, research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Activity

In other Exelixis news, 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 directly owned 358,882 shares in the company, valued at $15,464,225.38. The trade was a 2.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sue Gail Eckhardt sold 18,838 shares of Exelixis stock in a transaction that occurred on Monday, June 2nd. The stock was 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 of the company's stock, valued at approximately $913,781.20. The trade was a 46.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.82% of the company's stock.

About Exelixis

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.