Livforsakringsbolaget Skandia Omsesidigt Purchases Shares of 78,100 Exelixis, Inc. $EXEL

Key Points

• Livforsakringsbolaget Skandia Omsesidigt has acquired a new position in Exelixis, Inc. by purchasing 78,100 shares valued at approximately $3.44 million in the second quarter.
• Analysts have set new price targets for Exelixis, with Bank of America increasing their target to $46.00 and Jefferies Financial Group setting a price target of $50.00, reflecting a generally positive outlook.
• Exelixis reported earnings of $0.75 per share, exceeding analysts' estimates, but experienced a year-over-year revenue decline of 10.8%, highlighting challenges in maintaining sales momentum.

Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 78,100 shares of the biotechnology company's stock, valued at approximately $3,442,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Belpointe Asset Management LLC purchased a new stake in Exelixis in the first quarter worth about $572,000. GAMMA Investing LLC increased its position 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 buying an additional 1,328 shares in the last quarter. Park Avenue Securities LLC increased its position 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 buying an additional 707 shares in the last quarter. Envestnet Asset Management Inc. increased its position 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 buying an additional 47,845 shares in the last quarter. Finally, Fortis Capital Advisors LLC purchased a new stake in Exelixis in the first quarter worth about $572,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Exelixis Trading Up 0.4%

Shares of EXEL traded up $0.15 during midday trading on Tuesday, reaching $39.73. 370,525 shares of the stock were exchanged, compared to its average volume of 2,989,771. Exelixis, Inc. has a 52 week low of $25.17 and a 52 week high of $49.62. The company's 50 day moving average is $39.40 and its two-hundred day moving average is $39.71. The company has a market capitalization of $10.69 billion, a P/E ratio of 19.08, a PEG ratio of 0.83 and a beta of 0.32.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on EXEL shares. Truist Financial reduced their price target on Exelixis from $56.00 to $49.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. Morgan Stanley increased their target price on Exelixis from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 17th. Bank of America increased their target price on Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. Zacks Research cut Exelixis from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, UBS Group set a $38.00 price target on Exelixis and gave the company a "neutral" rating in a report on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Exelixis currently has an average rating of "Moderate Buy" and a consensus price target 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.