Exelixis, Inc. $EXEL Stake Boosted by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its stake in Exelixis by 152.9% in the first quarter, ending with 65,978 shares valued at about $2.84 million.
• Several Exelixis insiders sold shares recently, including EVP Dana Aftab and Director Maria C. Freire, with insider sales totaling 219,170 shares worth $10.6 million over the last three months.
• Exelixis reported better-than-expected quarterly results, posting $0.87 EPS on revenue of $610.81 million, while analysts currently rate the stock a consensus Hold with an average price target of $49.00.

Hsbc Holdings PLC raised its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 152.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,978 shares of the biotechnology company's stock after purchasing an additional 39,894 shares during the period. Hsbc Holdings PLC's holdings in Exelixis were worth $2,837,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Exelixis by 0.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company's stock worth $2,549,000 after buying an additional 281 shares during the last quarter. RHS Financial LLC grew its position in shares of Exelixis by 2.4% during the 4th quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company's stock valued at $553,000 after buying an additional 293 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in Exelixis by 5.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company's stock worth $237,000 after acquiring an additional 298 shares during the period. Cim LLC raised its stake in Exelixis by 0.9% during the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company's stock worth $1,462,000 after acquiring an additional 305 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its holdings in Exelixis by 6.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company's stock worth $235,000 after acquiring an additional 329 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Exelixis

In related news, EVP Dana Aftab sold 43,451 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total value of $2,187,757.85. Following the completion of the transaction, the executive vice president owned 594,741 shares in the company, valued at $29,945,209.35. This represents a 6.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Maria C. Freire sold 20,634 shares of the firm's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $46.00, for a total transaction of $949,164.00. Following the transaction, the director directly owned 100,819 shares in the company, valued at approximately $4,637,674. The trade was a 16.99% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 219,170 shares of company stock valued at $10,620,641. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EXEL shares. Weiss Ratings lowered Exelixis from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday. Barclays boosted their price objective on Exelixis from $45.00 to $49.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 14th. Morgan Stanley increased their target price on Exelixis from $50.00 to $53.00 and gave the stock an "equal weight" rating in a research report on Thursday. Wall Street Zen upgraded Exelixis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Finally, Truist Financial boosted their price target on shares of Exelixis from $54.00 to $56.00 and gave the company a "hold" rating in a report on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $49.00.

Exelixis Price Performance

Shares of EXEL stock opened at $55.37 on Friday. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57. The firm has a market capitalization of $13.92 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.60 and a beta of 0.42. The business has a 50 day simple moving average of $53.16 and a 200 day simple moving average of $47.19.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm had revenue of $610.81 million for the quarter, compared to the consensus estimate of $607.51 million. During the same quarter in the previous year, the business earned $0.55 EPS. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts anticipate that Exelixis, Inc. will post 3.15 EPS for the current fiscal year.

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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