Kaufman Rossin Wealth LLC Invests $269,000 in Exelixis, Inc. $EXEL

Key Points

• Kaufman Rossin Wealth LLC has acquired 7,286 shares of Exelixis, Inc. for approximately $269,000, marking a new position in the biotechnology company.
• Several institutional investors have significantly increased their holdings in Exelixis, with 85.27% of the company's stock now owned by such investors.
• Wall Street analysts have mixed views on Exelixis, with 13 analysts rating it as a Buy, while others have downgraded or maintained Hold ratings, suggesting a current average target price of $44.06.

Kaufman Rossin Wealth LLC bought a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 7,286 shares of the biotechnology company's stock, valued at approximately $269,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. grew its stake in 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 last quarter. Invesco Ltd. grew its stake in shares of Exelixis by 40.2% during the first quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company's stock worth $205,725,000 after acquiring an additional 1,596,948 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Exelixis by 25.7% during the fourth quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company's stock worth $132,101,000 after acquiring an additional 810,857 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Exelixis during the first quarter worth about $123,310,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 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. Hedge funds and other institutional investors own 85.27% of the company's stock.

Exelixis Price Performance

NASDAQ:EXEL traded up $0.33 during trading hours on Tuesday, reaching $38.23. The company had a trading volume of 435,960 shares, compared to its average volume of 3,018,635. Exelixis, Inc. has a 1-year low of $25.12 and a 1-year high of $49.62. The firm has a market cap of $10.29 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 0.80 and a beta of 0.29. The business's 50 day moving average price is $41.48 and its 200-day moving average price is $39.40.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.12. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The company had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. During the same period in the previous year, the company posted $0.84 earnings per share. 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, analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EXEL has been the topic of a number of research analyst reports. Morgan Stanley dropped their price target on Exelixis from $48.00 to $46.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 29th. Jefferies Financial Group set a $50.00 price target on Exelixis and gave the stock a "buy" rating in a research note on Tuesday, June 24th. JMP Securities restated a "market outperform" rating and set a $50.00 price target on shares of Exelixis in a research note on Tuesday, July 29th. Wall Street Zen lowered Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Guggenheim restated a "buy" rating and set a $45.00 price target on shares of Exelixis in a research note on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $44.06.

Insider Buying and Selling

In other news, Director Jack L. Wyszomierski sold 7,535 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $43.09, for a total transaction of $324,683.15. Following the completion of the transaction, the director directly owned 358,882 shares of the company's stock, valued at $15,464,225.38. This represents a 2.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sue Gail Eckhardt sold 18,838 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $42.74, for a total value of $805,136.12. Following the transaction, the director directly owned 21,380 shares of the company's stock, valued at approximately $913,781.20. The trade was a 46.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.82% of the company's stock.

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.