Lingohr Asset Management GmbH Sells 93,560 Shares of Exelixis, Inc. $EXEL

Key Points

• Lingohr Asset Management GmbH has reduced its stake in Exelixis, Inc. by 81.7%, selling 93,560 shares and now holding 20,901 shares worth approximately $921,000.
• Exelixis reported earnings of $0.75 per share for the recent quarter, exceeding expectations, but its revenue of $568.26 million was down 10.8% year-over-year.
• Thirteen analysts have rated Exelixis as a Buy, leading to an average price target of $44.06, with Guggenheim setting a target of $45.00.

Lingohr Asset Management GmbH decreased its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 81.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,901 shares of the biotechnology company's stock after selling 93,560 shares during the period. Exelixis comprises approximately 1.7% of Lingohr Asset Management GmbH's holdings, making the stock its 15th largest holding. Lingohr Asset Management GmbH's holdings in Exelixis were worth $921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in Exelixis by 32.2% in the first quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company's stock worth $201,000 after purchasing an additional 1,328 shares during the period. Park Avenue Securities LLC increased its stake in Exelixis by 10.6% in the first quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company's stock worth $272,000 after purchasing an additional 707 shares during the period. Envestnet Asset Management Inc. increased its stake in Exelixis by 23.9% in the first quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company's stock worth $9,159,000 after purchasing an additional 47,845 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in Exelixis in the first quarter worth $233,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in Exelixis in the first quarter worth $457,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $39.15 on Monday. The company has a market cap of $10.54 billion, a PE ratio of 18.82, a P/E/G ratio of 0.81 and a beta of 0.32. The business has a 50-day simple moving average of $39.97 and a two-hundred day simple moving average of $39.65. Exelixis, Inc. has a fifty-two week low of $25.17 and a fifty-two week high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.12. The business had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The company's quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Guggenheim reiterated a "buy" rating and issued a $45.00 target price on shares of Exelixis in a research note on Tuesday, July 29th. William Blair reiterated an "outperform" rating on shares of Exelixis in a research note on Tuesday, July 29th. Barclays raised their price target on Exelixis from $29.00 to $40.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. 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. Finally, Royal Bank Of Canada cut their price target on Exelixis from $50.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 29th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $44.06.

Exelixis Company 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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