Exelixis, Inc. $EXEL Shares Acquired by Sonora Investment Management Group LLC

Key Points

• Sonora Investment Management Group LLC increased its stake in Exelixis, Inc. by 47.3%, acquiring an additional 10,290 shares during the second quarter, bringing their total holdings to 32,051 shares valued at approximately $1.41 million.
• Institutional investors collectively own 85.27% of Exelixis' shares, with notable increases from firms like AQR Capital Management LLC and Invesco Ltd. in the first quarter.
• Exelixis reported a quarterly EPS of $0.75, exceeding expectations, but also experienced a 10.8% year-over-year decline in revenue, totaling $568.26 million.

Sonora Investment Management Group LLC lifted its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 47.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,051 shares of the biotechnology company's stock after purchasing an additional 10,290 shares during the period. Sonora Investment Management Group LLC's holdings in Exelixis were worth $1,413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. increased its position in Exelixis by 2.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,795,074 shares of the biotechnology company's stock valued at $287,794,000 after acquiring an additional 164,134 shares during the period. AQR Capital Management LLC increased its position in Exelixis by 73.8% in the 1st quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company's stock valued at $250,869,000 after acquiring an additional 2,926,884 shares during the period. Invesco Ltd. increased its position in Exelixis by 40.2% in the 1st quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company's stock valued at $205,725,000 after acquiring an additional 1,596,948 shares during the period. Nuveen LLC acquired a new position in Exelixis in the 1st quarter valued at about $123,310,000. Finally, Charles Schwab Investment Management Inc. increased its position in Exelixis by 2.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,321,407 shares of the biotechnology company's stock valued at $122,626,000 after acquiring an additional 69,054 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Trading Up 0.9%

Shares of Exelixis stock opened at $39.04 on Friday. The business's 50 day simple moving average is $38.97 and its 200-day simple moving average is $39.73. The stock has a market capitalization of $10.51 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 0.81 and a beta of 0.32. Exelixis, Inc. has a twelve month low of $25.17 and a twelve month high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (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%.The business's revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. Sell-side analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on EXEL. Morgan Stanley boosted their target price on Exelixis from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 17th. Barclays began coverage on Exelixis in a research report on Wednesday, September 17th. They set an "equal weight" rating and a $40.00 target price on the stock. Zacks Research cut Exelixis from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. HC Wainwright dropped their target price on Exelixis from $53.00 to $46.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Finally, UBS Group set a $38.00 price target on Exelixis and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.42.

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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