Exelixis, Inc. $EXEL Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC cut its Exelixis stake by 51.4% in the fourth quarter, selling 308,697 shares and leaving it with 292,114 shares worth about $12.8 million.
• Exelixis reported better-than-expected quarterly results, posting EPS of $0.87 versus the $0.75 consensus and revenue of $610.8 million, up 10% from a year earlier.
• Insider selling continued, with SVP Brenda Hefti and EVP Patrick J. Haley both selling shares in May; over the last 90 days, insiders have sold 205,433 shares worth about $9.93 million.

Intech Investment Management LLC lowered its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 51.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,114 shares of the biotechnology company's stock after selling 308,697 shares during the period. Intech Investment Management LLC owned approximately 0.11% of Exelixis worth $12,803,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in EXEL. Anchor Investment Management LLC increased its position in shares of Exelixis by 500.0% in the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company's stock worth $25,000 after acquiring an additional 500 shares in the last quarter. Activest Wealth Management acquired a new stake in shares of Exelixis in the fourth quarter worth $32,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Exelixis by 1,380.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company's stock worth $34,000 after acquiring an additional 773 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Exelixis in the fourth quarter worth $44,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Exelixis during the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Stock Down 1.9%

EXEL stock opened at $50.48 on Friday. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $52.96. The firm's 50-day simple moving average is $46.01 and its 200 day simple moving average is $44.22. The stock has a market cap of $12.69 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.08 and a beta of 0.38.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business had revenue of $610.81 million for the quarter, compared to analysts' expectations of $607.51 million. During the same quarter last year, the company earned $0.55 EPS. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts forecast that Exelixis, Inc. will post 3.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Brenda Hefti sold 6,625 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $50.21, for a total value of $332,641.25. Following the sale, the senior vice president owned 106,762 shares of the company's stock, valued at $5,360,520.02. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick J. Haley sold 32,110 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the sale, the executive vice president directly owned 357,638 shares in the company, valued at approximately $17,813,948.78. This trade represents a 8.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 205,433 shares of company stock worth $9,930,259. 2.60% of the stock is owned by company insiders.

Exelixis News Summary

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Zacks Research raised several forward earnings estimates for Exelixis, including Q2 2026, Q3 2026, FY2026, FY2027, and FY2028, suggesting analysts see improving profitability ahead. Zacks Research estimate updates
• Positive Sentiment: Exelixis said management will host fireside chats at upcoming June investor conferences, which can support investor confidence by highlighting strategy, pipeline progress, and commercial execution. Investor conference webcast announcement
• Positive Sentiment: Wall Street commentary and fair-value updates have trended higher, with one article noting a refreshed fair value estimate near $49.65 and broader debate about Exelixis’s growth and competitive position. Fair value target article
• Neutral Sentiment: Shareholders approved the company’s equity plan and board slate at the annual meeting, a routine governance update that removes an overhang but is not a major catalyst on its own. Shareholder approval article
• Neutral Sentiment: Executive Vice President Dana Aftab sold 43,451 shares for about $2.19 million. Insider sales can weigh on sentiment, but this does not necessarily signal a change in the company’s fundamentals. Insider sale filing
• Negative Sentiment: One Zacks note trimmed Q1 2027 EPS estimates slightly and maintained only a Hold rating, showing that not all analysts are turning more bullish. Zacks Hold rating and estimate cut

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EXEL. Stifel Nicolaus raised their price target on shares of Exelixis from $44.00 to $47.00 and gave the company a "hold" rating in a report on Wednesday, May 6th. TD Cowen raised their price target on shares of Exelixis from $51.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Exelixis from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Truist Financial upgraded shares of Exelixis to a "strong-buy" rating in a research note on Monday, April 27th. Finally, Wells Fargo & Company increased their price objective on shares of Exelixis from $35.00 to $40.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $47.35.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis's translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company's most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.

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