Exelixis, Inc. $EXEL Shares Bought by Royal Bank of Canada

Royal Bank of Canada lifted its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 56.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 709,761 shares of the biotechnology company's stock after purchasing an additional 256,619 shares during the period. Royal Bank of Canada owned 0.26% of Exelixis worth $26,204,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Frank Rimerman Advisors LLC lifted its holdings in Exelixis by 4.7% in the first quarter. Frank Rimerman Advisors LLC now owns 6,342 shares of the biotechnology company's stock worth $234,000 after buying an additional 285 shares during the period. Farther Finance Advisors LLC lifted its holdings in Exelixis by 6.1% in the first quarter. Farther Finance Advisors LLC now owns 5,372 shares of the biotechnology company's stock worth $195,000 after buying an additional 307 shares during the period. Balyasny Asset Management L.P. lifted its holdings in Exelixis by 1.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company's stock worth $573,000 after buying an additional 317 shares during the period. Rathbones Group PLC increased its stake in shares of Exelixis by 5.3% during the first quarter. Rathbones Group PLC now owns 6,847 shares of the biotechnology company's stock valued at $253,000 after purchasing an additional 347 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Exelixis by 9.2% during the first quarter. Larson Financial Group LLC now owns 4,367 shares of the biotechnology company's stock valued at $161,000 after purchasing an additional 367 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group set a $38.00 target price on Exelixis and gave the stock a "neutral" rating in a report on Wednesday, July 30th. JMP Securities reissued a "market outperform" rating and issued a $50.00 target price on shares of Exelixis in a report on Tuesday, July 29th. HC Wainwright cut their price objective on shares of Exelixis from $53.00 to $46.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Stephens raised shares of Exelixis from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $29.00 to $60.00 in a research report on Tuesday, June 24th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $45.00 target price on shares of Exelixis in a report on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Exelixis currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.06.

Exelixis Price Performance

Shares of NASDAQ:EXEL traded up $1.01 during trading on Thursday, reaching $38.71. 979,301 shares of the company were exchanged, compared to its average volume of 2,990,509. The firm has a market capitalization of $10.42 billion, a PE ratio of 18.62, a P/E/G ratio of 0.79 and a beta of 0.32. The business's fifty day simple moving average is $40.25 and its 200-day simple moving average is $39.60. Exelixis, Inc. has a 12-month low of $25.17 and a 12-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, beating the consensus estimate of $0.63 by $0.12. The company had revenue of $568.26 million for the quarter, compared to analyst estimates of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. Exelixis's revenue was down 10.8% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Exelixis 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.