Lecap Asset Management Ltd. Has $414,000 Stock Holdings in Exelixis, Inc. $EXEL

Key Points

• Lecap Asset Management Ltd. reduced its shareholding in Exelixis, Inc. by 50.7% during the 2nd quarter, owning 9,397 shares valued at $414,000 at the end of the reporting period.
• Exelixis reported $0.75 EPS for the latest quarter, exceeding analysts' expectations of $0.63, despite a 10.8% year-over-year revenue decline.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Exelixis, with an average target price of $44.42.

Lecap Asset Management Ltd. decreased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 50.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,397 shares of the biotechnology company's stock after selling 9,654 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Exelixis were worth $414,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. CHURCHILL MANAGEMENT Corp acquired a new stake in Exelixis during the 2nd quarter valued at $4,642,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Exelixis by 50.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 910,849 shares of the biotechnology company's stock worth $40,146,000 after buying an additional 305,320 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Exelixis by 1.1% during the second quarter. Truist Financial Corp now owns 22,292 shares of the biotechnology company's stock worth $983,000 after buying an additional 250 shares in the last quarter. Poinciana Advisors Group LLC acquired a new stake in shares of Exelixis during the second quarter worth $250,000. Finally, Northwest Wealth Management LLC acquired a new stake in shares of Exelixis during the second quarter worth $221,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Stock Down 3.0%

EXEL stock opened at $40.09 on Friday. The company has a market cap of $10.79 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 0.85 and a beta of 0.38. The business has a 50-day simple moving average of $38.57 and a 200 day simple moving average of $39.85. Exelixis, Inc. has a 52 week low of $25.17 and a 52 week high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its 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 firm 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 business posted $0.84 earnings per share. The business'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 anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their target price on Exelixis from $46.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, September 17th. Truist Financial dropped their target price on Exelixis from $56.00 to $49.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Stephens raised Exelixis from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $29.00 to $60.00 in a report on Tuesday, June 24th. 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. Finally, UBS Group set a $38.00 price target on Exelixis and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Fifteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $44.42.

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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