Exelixis, Inc. $EXEL is Stephens Investment Management Group LLC's 7th Largest Position

Key Points

• Stephens Investment Management Group LLC has reduced its stake in Exelixis, Inc. by 12.4%, making it the firm's 7th largest position in its investment portfolio.
• Exelixis reported $0.75 earnings per share for the quarter, exceeding analysts' expectations of $0.63, despite a 10.8% decline in revenue year-over-year.
• The stock received a range of analyst ratings, with a consensus of "Moderate Buy" and a price target averaging $44.53.

Stephens Investment Management Group LLC lowered its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 12.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,642,402 shares of the biotechnology company's stock after selling 374,162 shares during the period. Exelixis accounts for 1.5% of Stephens Investment Management Group LLC's investment portfolio, making the stock its 7th biggest position. Stephens Investment Management Group LLC owned about 0.97% of Exelixis worth $116,464,000 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 business. Belpointe Asset Management LLC purchased a new stake in Exelixis during the first quarter valued at about $572,000. GAMMA Investing LLC grew its position in Exelixis by 32.2% during the first 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. Envestnet Asset Management Inc. grew its position in Exelixis by 23.9% during the first quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company's stock valued at $9,159,000 after acquiring an additional 47,845 shares during the period. Fortis Capital Advisors LLC purchased a new stake in Exelixis during the first quarter valued at about $572,000. Finally, Intech Investment Management LLC grew its position in Exelixis by 46.4% during the first quarter. Intech Investment Management LLC now owns 392,022 shares of the biotechnology company's stock valued at $14,473,000 after acquiring an additional 124,297 shares during the period. Hedge funds and other institutional investors own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EXEL. JMP Securities reissued a "market outperform" rating and set a $50.00 price target on shares of Exelixis in a research report on Tuesday, July 29th. Stephens raised Exelixis from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $29.00 to $60.00 in a research report on Tuesday, June 24th. Weiss Ratings restated a "buy (b)" rating on shares of Exelixis in a research note on Wednesday, October 8th. Leerink Partners upgraded Exelixis from a "market perform" rating to an "outperform" rating and set a $48.00 price objective on the stock in a research note on Tuesday. Finally, Zacks Research cut Exelixis from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.53.

Exelixis Stock Up 4.6%

EXEL stock opened at $36.13 on Wednesday. Exelixis, Inc. has a twelve month low of $27.86 and a twelve month high of $49.62. The company has a market cap of $9.73 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 0.69 and a beta of 0.38. The business's 50-day simple moving average is $38.73 and its 200 day simple moving average is $40.02.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.12. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The business had revenue of $568.26 million for the quarter, compared to the consensus estimate of $574.36 million. During the same period last year, the business earned $0.84 earnings per share. The firm's revenue for the quarter was down 10.8% compared to the same quarter last year. Exelixis has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Exelixis, Inc. will post 2.04 EPS 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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