Erste Asset Management GmbH Has $1.93 Million Position in Exelixis, Inc. $EXEL

Key Points

• Erste Asset Management GmbH sold 22,000 shares of Exelixis, Inc., reducing its stake by 29.5% and leaving it with 52,500 shares worth approximately $1.93 million.
• Several hedge funds have made significant changes to their holdings in Exelixis, with Nuveen LLC investing $123.31 million and Caisse DE Depot ET Placement DU Quebec increasing its stake by 330.4%.
• Exelixis reported an EPS of $0.75, beating estimates, but its revenue decreased by 10.8% year-over-year, totaling $568.26 million for the quarter.

Erste Asset Management GmbH lessened its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 29.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,500 shares of the biotechnology company's stock after selling 22,000 shares during the period. Erste Asset Management GmbH's holdings in Exelixis were worth $1,927,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Coppell Advisory Solutions LLC bought a new position in shares of Exelixis in the 4th quarter valued at about $25,000. Hemington Wealth Management grew its position in shares of Exelixis by 211.3% in the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 522 shares during the period. Colonial Trust Co SC boosted its holdings in shares of Exelixis by 616.9% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after buying an additional 765 shares during the period. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Exelixis during the 1st quarter worth about $37,000. Finally, Costello Asset Management INC bought a new stake in shares of Exelixis during the 1st quarter worth about $39,000. Institutional investors own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EXEL. Stephens raised shares of Exelixis from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $29.00 to $60.00 in a report on Tuesday, June 24th. Jefferies Financial Group set a $50.00 target price on shares of Exelixis and gave the stock a "buy" rating in a report on Tuesday, June 24th. Guggenheim reaffirmed a "buy" rating and set a $45.00 target price on shares of Exelixis in a report on Tuesday, July 29th. HC Wainwright reduced their target price on shares of Exelixis from $53.00 to $46.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Finally, Stifel Nicolaus lifted their target price on shares of Exelixis from $38.00 to $41.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $44.06.

Exelixis Price Performance

Exelixis stock traded down $0.73 during midday trading on Monday, hitting $37.90. The company's stock had a trading volume of 1,548,765 shares, compared to its average volume of 3,034,964. Exelixis, Inc. has a 1-year low of $25.12 and a 1-year high of $49.62. The company has a 50-day moving average price of $41.56 and a two-hundred day moving average price of $39.36. The company has a market cap of $10.20 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 0.80 and a beta of 0.29.

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 for the quarter, topping 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 business had revenue of $568.26 million during the quarter, compared to analysts' expectations of $574.36 million. During the same quarter in the previous year, the company earned $0.84 EPS. The business's revenue was down 10.8% on a year-over-year basis. Exelixis has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Activity at Exelixis

In other news, Director Sue Gail Eckhardt sold 18,838 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $42.74, for a total value of $805,136.12. Following the completion of the transaction, the director directly owned 21,380 shares in the company, valued at approximately $913,781.20. The trade was a 46.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack L. Wyszomierski sold 7,535 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total transaction of $324,683.15. Following the completion of the transaction, the director owned 358,882 shares of the company's stock, valued at $15,464,225.38. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.85% of the stock is currently owned by insiders.

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.