Highland Capital Management LLC Invests $1.54 Million in Exelixis, Inc. $EXEL

Key Points

• Highland Capital Management recently acquired a new position in Exelixis, Inc., purchasing 34,830 shares valued at approximately $1.54 million in Q2.
• Institutional investors hold 85.27% of Exelixis's stock, indicating strong support from major hedge funds and investment firms.
• Exelixis's stock has a consensus rating of "Moderate Buy" with an average price target of $44.42 according to recent analyst reports.

Highland Capital Management LLC bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 34,830 shares of the biotechnology company's stock, valued at approximately $1,535,000.

Other hedge funds have also added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. raised its position in shares of Exelixis by 2.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 7,795,074 shares of the biotechnology company's stock valued at $287,794,000 after purchasing an additional 164,134 shares during the period. AQR Capital Management LLC grew 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 buying an additional 2,926,884 shares during the last quarter. Invesco Ltd. grew 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 buying an additional 1,596,948 shares during the last quarter. Nuveen LLC bought a new position in Exelixis in the 1st quarter valued at about $123,310,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Exelixis by 2.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,321,407 shares of the biotechnology company's stock worth $122,626,000 after acquiring an additional 69,054 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on EXEL. Guggenheim reissued a "buy" rating and set a $45.00 price target on shares of Exelixis in a report on Tuesday, July 29th. The Goldman Sachs Group started coverage on Exelixis in a report on Wednesday, September 17th. They set a "buy" rating and a $47.00 target price for the company. HC Wainwright decreased their price target on shares of Exelixis from $53.00 to $46.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Weiss Ratings reiterated a "buy (b)" rating on shares of Exelixis in a research note on Saturday, September 27th. Finally, Stifel Nicolaus increased 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. Fifteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $44.42.

Exelixis Trading Down 3.0%

Shares of EXEL stock opened at $40.09 on Monday. Exelixis, Inc. has a 1-year low of $25.17 and a 1-year high of $49.62. The stock has a market cap of $10.79 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 0.83 and a beta of 0.38. The stock has a 50-day moving average of $38.57 and a 200-day moving average of $39.89.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.63 by $0.12. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The business had revenue of $568.26 million for the quarter, compared to analysts' expectations of $574.36 million. During the same period in the prior year, the business posted $0.84 earnings per share. The firm'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 earnings per share for the current 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.

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