Exelixis, Inc. $EXEL Shares Acquired by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC increased its position in Exelixis, Inc. shares by 45.9% during Q1, acquiring 6,641 additional shares, bringing its total holdings to 21,094 shares valued at approximately $779,000.
• Notably, 85.27% of Exelixis stock is currently owned by institutional investors and hedge funds, highlighting strong institutional interest in the company.
• The company reported a Net Margin of 27.01% and earnings per share of $0.75, exceeding analysts' expectations, but revenue was down by 10.8% compared to the previous year.

Fred Alger Management LLC lifted its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 45.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,094 shares of the biotechnology company's stock after acquiring an additional 6,641 shares during the quarter. Fred Alger Management LLC's holdings in Exelixis were worth $779,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EXEL. Nuveen LLC acquired a new position in shares of Exelixis during the first quarter worth about $123,310,000. AQR Capital Management LLC increased its stake in shares of 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 acquiring an additional 2,926,884 shares during the period. Invesco Ltd. increased its stake in shares of 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 acquiring an additional 1,596,948 shares during the period. Jupiter Asset Management Ltd. increased its stake in shares of 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 acquiring an additional 980,319 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in shares of Exelixis during the fourth quarter worth about $30,321,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EXEL has been the topic of a number of recent analyst reports. UBS Group set a $38.00 price target on shares of Exelixis and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. William Blair restated an "outperform" rating on shares of Exelixis in a research report on Tuesday, July 29th. Guggenheim restated a "buy" rating and set a $45.00 target price on shares of Exelixis in a research report on Tuesday, July 29th. Wall Street Zen upgraded shares of Exelixis from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Truist Financial lowered their target price on shares of Exelixis from $56.00 to $49.00 and set a "buy" rating on the stock in a research report on Tuesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Exelixis currently has an average rating of "Moderate Buy" and an average target price of $44.06.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $37.70 on Thursday. Exelixis, Inc. has a 12-month low of $25.17 and a 12-month high of $49.62. The company has a market capitalization of $10.15 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 0.79 and a beta of 0.32. The firm's 50-day moving average is $40.25 and its two-hundred day moving average is $39.60.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.12. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The company had revenue of $568.26 million for the quarter, compared to the consensus estimate of $574.36 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The company'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, analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current fiscal 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.

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