CHURCHILL MANAGEMENT Corp Purchases New Stake in Exelixis, Inc. $EXEL

Key Points

• CHURCHILL MANAGEMENT Corp has acquired a new stake in Exelixis, Inc., purchasing 105,320 shares valued at approximately $4.6 million in the second quarter.
• Institutional investors now own 85.27% of Exelixis' stock, with notable increases in holdings from firms like Nuveen LLC and AQR Capital Management.
• Exelixis reported a quarterly earnings of $0.75 EPS, exceeding analyst estimates, although its revenue was down 10.8% year-over-year.

CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 105,320 shares of the biotechnology company's stock, valued at approximately $4,642,000.

Several other institutional investors also recently added to or reduced their stakes in EXEL. Nuveen LLC bought a new position in Exelixis during the first quarter valued at about $123,310,000. AQR Capital Management LLC boosted its position in Exelixis by 73.8% during the first quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company's stock worth $250,869,000 after purchasing an additional 2,926,884 shares during the period. Invesco Ltd. boosted its position in 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. boosted its position in 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, Pacer Advisors Inc. boosted its position in Exelixis by 935.4% during the first quarter. Pacer Advisors Inc. now owns 678,067 shares of the biotechnology company's stock worth $25,034,000 after purchasing an additional 612,577 shares during the period. Institutional investors own 85.27% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on EXEL shares. Royal Bank Of Canada cut their target price on shares of Exelixis from $50.00 to $45.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 29th. JMP Securities reiterated a "market outperform" rating and set a $50.00 target price on shares of Exelixis in a research report on Tuesday, July 29th. Stephens upgraded shares of Exelixis from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $29.00 to $60.00 in a research report on Tuesday, June 24th. Benchmark reiterated a "neutral" rating on shares of Exelixis in a research report on Monday, June 23rd. Finally, UBS Group set a $38.00 target price on shares of Exelixis and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $44.42.

Exelixis Price Performance

Shares of EXEL opened at $41.20 on Thursday. Exelixis, Inc. has a 1-year low of $25.17 and a 1-year high of $49.62. The company has a market capitalization of $11.09 billion, a P/E ratio of 19.81, a P/E/G ratio of 0.85 and a beta of 0.38. The firm's 50 day simple moving average is $38.75 and its 200 day simple moving average is $39.80.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the firm earned $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current 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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