Jacobs Levy Equity Management Inc. Sells 90,427 Shares of Exelixis, Inc. $EXEL

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in Exelixis, Inc. by 6.0%, owning 1,415,657 shares worth approximately $52.27 million as of its latest SEC filing.
• Exelixis recently announced quarterly earnings, reporting $0.75 EPS, which surpassed analysts' consensus estimate of $0.63, although revenue declined 10.8% year-over-year.
• Current analyst ratings indicate a consensus of "Moderate Buy" for Exelixis, with 13 buy ratings and a consensus target price of $44.06.

Jacobs Levy Equity Management Inc. lowered its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,415,657 shares of the biotechnology company's stock after selling 90,427 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.51% of Exelixis worth $52,266,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Exelixis by 32.2% in the 1st quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company's stock worth $201,000 after purchasing an additional 1,328 shares during the period. Park Avenue Securities LLC grew its position in Exelixis by 10.6% in the 1st quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company's stock worth $272,000 after purchasing an additional 707 shares during the period. Envestnet Asset Management Inc. grew its position in Exelixis by 23.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company's stock worth $9,159,000 after purchasing an additional 47,845 shares during the period. Flagship Harbor Advisors LLC bought a new stake in Exelixis in the 1st quarter worth approximately $233,000. Finally, Concurrent Investment Advisors LLC bought a new stake in Exelixis in the 1st quarter worth approximately $457,000. Institutional investors own 85.27% of the company's stock.

Exelixis Trading Down 1.5%

Shares of EXEL traded down $0.57 during trading hours on Wednesday, reaching $37.71. 1,743,026 shares of the stock traded hands, compared to its average volume of 2,995,585. Exelixis, Inc. has a 52-week low of $25.17 and a 52-week high of $49.62. The company's 50-day moving average price is $40.38 and its two-hundred day moving average price is $39.61. The company has a market cap of $10.15 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 0.78 and a beta of 0.32.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $574.36 million. During the same quarter in the previous year, the company earned $0.84 EPS. Exelixis's revenue for the quarter was down 10.8% on a year-over-year basis. Exelixis has set its FY 2025 guidance at EPS. On average, research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on EXEL. Barclays lifted their target price on shares of Exelixis from $29.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. 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 research report on Tuesday, July 29th. Citigroup lifted their target price on shares of Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Stephens upgraded shares of Exelixis from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $29.00 to $60.00 in a research note on Tuesday, June 24th. Finally, Truist Financial dropped their price target on shares of Exelixis from $56.00 to $49.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $44.06.

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.