Driehaus Capital Management LLC Has $17.13 Million Holdings in Exelixis, Inc. $EXEL

Key Points

• Driehaus Capital Management LLC increased its stake in Exelixis, Inc. by 33.7% during the first quarter, owning 463,949 shares valued at approximately $17.1 million.
• Several large investors, including the Canada Pension Plan Investment Board, also raised their holdings in Exelixis, reflecting strong institutional interest in the company.
• Analysts' ratings for Exelixis are mixed, with reports indicating a shift from "strong-buy" to "hold" ratings, and an overall average target price of $44.06 as of late July.

Driehaus Capital Management LLC lifted its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 33.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 463,949 shares of the biotechnology company's stock after purchasing an additional 117,006 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.17% of Exelixis worth $17,129,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hemington Wealth Management increased its stake in shares of Exelixis by 211.3% during the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 522 shares during the last quarter. Colonial Trust Co SC increased its stake in shares of Exelixis by 616.9% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 765 shares during the last quarter. Bartlett & CO. Wealth Management LLC acquired a new position in Exelixis in the 1st quarter valued at $37,000. Costello Asset Management INC acquired a new position in Exelixis in the 1st quarter valued at $39,000. Finally, Harbour Investments Inc. grew its stake in Exelixis by 900.0% in the 1st quarter. Harbour Investments Inc. now owns 1,100 shares of the biotechnology company's stock valued at $41,000 after buying an additional 990 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EXEL shares. Morgan Stanley lowered their target price on shares of Exelixis from $48.00 to $46.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 29th. 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. Jefferies Financial Group set a $50.00 price target on shares of Exelixis and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Wall Street Zen lowered shares of Exelixis from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Barclays raised their price target on shares of Exelixis from $29.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Thirteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.06.

Exelixis Price Performance

Shares of Exelixis stock traded down $0.21 during midday trading on Wednesday, hitting $36.97. 1,512,911 shares of the company were exchanged, compared to its average volume of 3,017,655. The firm has a market cap of $9.95 billion, a P/E ratio of 17.77, a PEG ratio of 0.77 and a beta of 0.32. Exelixis, Inc. has a 52 week low of $25.12 and a 52 week high of $49.62. The firm has a 50 day simple moving average of $40.97 and a 200-day simple moving average of $39.53.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, topping the consensus estimate 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 revenue was down 10.8% on a year-over-year basis. During the same quarter last year, the company earned $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. Equities research analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current year.

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.