Exelixis, Inc. $EXEL Holdings Lifted by Fisher Asset Management LLC

Key Points

• Fisher Asset Management boosted its Exelixis stake by 228.4% in the fourth quarter, buying an additional 106,912 shares and bringing its position to 153,724 shares worth about $6.7 million.
• Several other institutional investors also increased holdings, and overall hedge funds and other institutions own 85.27% of Exelixis, highlighting strong institutional interest in the stock.
• Exelixis posted solid recent results, with Q1 earnings of $0.87 per share beating estimates and revenue rising 10% year over year; analysts now expect continued profitability, though the stock still carries a consensus “Hold” rating.

Fisher Asset Management LLC increased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 228.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,724 shares of the biotechnology company's stock after buying an additional 106,912 shares during the quarter. Fisher Asset Management LLC owned 0.06% of Exelixis worth $6,738,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Farallon Capital Management LLC grew its holdings in shares of Exelixis by 21.6% during the third quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company's stock valued at $805,412,000 after buying an additional 3,466,000 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Exelixis by 20.7% during the third quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company's stock valued at $379,190,000 after buying an additional 1,575,280 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Exelixis by 7.1% during the third quarter. Invesco Ltd. now owns 5,960,525 shares of the biotechnology company's stock valued at $246,170,000 after buying an additional 394,897 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Exelixis by 11.2% during the third quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company's stock valued at $172,658,000 after buying an additional 419,596 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Exelixis by 40.2% during the fourth quarter. UBS Group AG now owns 3,722,334 shares of the biotechnology company's stock valued at $163,150,000 after buying an additional 1,067,265 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EXEL. Wall Street Zen upgraded Exelixis from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Exelixis in a report on Tuesday, May 19th. Wells Fargo & Company lifted their price target on Exelixis from $35.00 to $40.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Barclays lifted their price target on Exelixis from $44.00 to $45.00 and gave the company an "equal weight" rating in a report on Monday, April 20th. Finally, Stifel Nicolaus boosted their target price on Exelixis from $44.00 to $47.00 and gave the company a "hold" rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $47.35.

Key Stories Impacting Exelixis

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Zacks Research raised its Q2 2026 EPS estimate for Exelixis to $0.75 from $0.72, reinforcing expectations that the company can continue delivering solid profitability.
• Positive Sentiment: Exelixis is set to participate in upcoming June investor conferences, which can help keep attention on the stock and provide new updates on pipeline and commercial progress. Article Title
• Positive Sentiment: A recent article argued that profitable, cash-generative biotech names like Exelixis may benefit as investors rotate away from expensive growth stocks and toward defensive healthcare ideas. Article Title
• Positive Sentiment: At the company’s annual meeting, investors backed the board, equity plan, and executive pay, signaling governance support and reducing uncertainty. Article Title
• Neutral Sentiment: Exelixis presented at Bernstein’s Strategic Decisions Conference, which keeps the company visible to institutional investors but did not include any major new operating update. Article Title
• Neutral Sentiment: A short-interest report showed essentially no short interest in Exelixis, suggesting limited bearish positioning but not a meaningful catalyst on its own.
• Negative Sentiment: EVP Dana Aftab sold 43,451 shares at an average price of $50.35, a disclosed insider sale that can weigh on sentiment even though the executive still holds a large position. Article Title

Insider Transactions at Exelixis

In other news, EVP Patrick J. Haley sold 32,110 shares of the company's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the sale, the executive vice president owned 357,638 shares in the company, valued at approximately $17,813,948.78. This represents a 8.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher J. Senner sold 34,901 shares of the company's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $50.00, for a total value of $1,745,050.00. Following the sale, the chief financial officer owned 952,317 shares of the company's stock, valued at approximately $47,615,850. This trade represents a 3.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 205,433 shares of company stock valued at $9,930,259. Corporate insiders own 2.60% of the company's stock.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $51.45 on Friday. The business's 50-day moving average price is $45.83 and its two-hundred day moving average price is $44.18. Exelixis, Inc. has a one year low of $33.76 and a one year high of $52.96. The company has a market capitalization of $12.93 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 1.06 and a beta of 0.38.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm had revenue of $610.81 million for the quarter, compared to the consensus estimate of $607.51 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The business's quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts anticipate that Exelixis, Inc. will post 3.15 EPS for the current year.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis's translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company's most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.

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