Exelixis, Inc. $EXEL Shares Acquired by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC increased its stake in Exelixis, Inc. by 30.7% in Q1, acquiring an additional 131,469 shares, making its total holdings worth $20.65 million.
• Exelixis reported $0.75 earnings per share for the last quarter, exceeding analyst expectations of $0.63, despite a 10.8% decline in quarterly revenue year-over-year.
• The majority of analysts have assigned a consensus rating of "Moderate Buy" for Exelixis, with a price target of $44.06 based on current market assessments.

Gotham Asset Management LLC boosted its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 30.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 559,324 shares of the biotechnology company's stock after purchasing an additional 131,469 shares during the quarter. Gotham Asset Management LLC owned about 0.20% of Exelixis worth $20,650,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in EXEL. Nuveen LLC acquired a new position in Exelixis in the 1st quarter valued at $123,310,000. AQR Capital Management LLC raised its stake in Exelixis by 73.8% in the 1st quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company's stock valued at $250,869,000 after purchasing an additional 2,926,884 shares during the last quarter. Invesco Ltd. raised its stake in Exelixis by 40.2% in the 1st quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company's stock valued at $205,725,000 after purchasing an additional 1,596,948 shares during the last quarter. Jupiter Asset Management Ltd. raised its stake in Exelixis by 233.4% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,400,270 shares of the biotechnology company's stock valued at $51,698,000 after purchasing an additional 980,319 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Exelixis in the 4th quarter valued at $30,321,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on EXEL. Morgan Stanley reduced their price objective on Exelixis from $48.00 to $46.00 and set an "overweight" rating for the company in a research note on Tuesday, July 29th. Royal Bank Of Canada cut their target price on Exelixis from $50.00 to $45.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 29th. Bank of America raised their target price on Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. UBS Group set a $38.00 target price on Exelixis and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group set a $50.00 target price on Exelixis and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $44.06.

Exelixis Stock Performance

Exelixis stock traded up $0.59 during trading on Tuesday, hitting $38.28. The company's stock had a trading volume of 1,806,606 shares, compared to its average volume of 3,005,103. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 0.78 and a beta of 0.32. The stock's fifty day moving average is $40.49 and its 200 day moving average is $39.62. Exelixis, Inc. has a 1-year low of $25.17 and a 1-year high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.63 by $0.12. The company had revenue of $568.26 million during the quarter, compared to analyst estimates of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The firm's revenue was down 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. On average, research 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.