Livforsakringsbolaget Skandia Omsesidigt Takes Position in Exelixis, Inc. $EXEL

Key Points

• Livforsakringsbolaget Skandia Omsesidigt has acquired a new stake in Exelixis, Inc., purchasing 111,158 shares valued at approximately $4.9 million.
• Exelixis reported an EPS of $0.75 for the latest quarter, surpassing the consensus estimate by $0.12, with revenue totaling $568.26 million.
• The stock has a current market capitalization of $10.50 billion, with a consensus rating of "Moderate Buy" from analysts and a consensus price target of $44.06.

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 111,158 shares of the biotechnology company's stock, valued at approximately $4,900,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in shares of Exelixis during the 1st quarter valued at about $123,310,000. AQR Capital Management LLC boosted its position in Exelixis by 73.8% during the 1st quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company's stock worth $250,869,000 after acquiring an additional 2,926,884 shares during the period. Invesco Ltd. raised its stake in shares of Exelixis by 40.2% in the 1st quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company's stock worth $205,725,000 after buying an additional 1,596,948 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in shares of Exelixis by 233.4% during the first quarter. Jupiter Asset Management Ltd. now owns 1,400,270 shares of the biotechnology company's stock worth $51,698,000 after purchasing an additional 980,319 shares during the period. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Exelixis during the fourth quarter worth $30,321,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EXEL has been the subject of several recent analyst reports. 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. Stifel Nicolaus raised their price target on Exelixis from $38.00 to $41.00 and gave the company a "hold" rating in a report on Tuesday, July 29th. JMP Securities reaffirmed a "market outperform" rating and set a $50.00 price objective on shares of Exelixis in a research note on Tuesday, July 29th. Stephens raised Exelixis from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $29.00 to $60.00 in a research note on Tuesday, June 24th. Finally, Truist Financial dropped their target price on Exelixis from $56.00 to $49.00 and set a "buy" rating on the stock in a report on Tuesday, July 29th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $44.42.

Exelixis Trading Down 0.9%

NASDAQ:EXEL traded down $0.35 during trading hours on Friday, reaching $40.10. The company had a trading volume of 7,751,452 shares, compared to its average volume of 2,270,912. Exelixis, Inc. has a 52 week low of $25.17 and a 52 week high of $49.62. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 0.83 and a beta of 0.32. The firm's 50 day moving average price is $39.52 and its 200-day moving average price is $39.68.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its 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 company had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. Exelixis's quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. On average, analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal 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.