NFJ Investment Group LLC Buys 147,471 Shares of Exelixis, Inc. $EXEL

Key Points

• NFJ Investment Group LLC significantly increased its stake in Exelixis, Inc. by 244.7%, acquiring an additional 147,471 shares in the first quarter, totaling 207,746 shares valued at approximately $7.67 million.
• Research analysts have mixed ratings for Exelixis, with a consensus target price of $44.06, and ratings ranging from "Buy" to "Sell" from various financial institutions.
• Exelixis reported $0.75 EPS for its last quarter, exceeding projections, but experienced a 10.8% decline in revenue compared to the previous year.

NFJ Investment Group LLC grew its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 244.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 207,746 shares of the biotechnology company's stock after buying an additional 147,471 shares during the period. NFJ Investment Group LLC owned 0.08% of Exelixis worth $7,670,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in EXEL. Comerica Bank increased its stake in shares of Exelixis by 0.6% in the fourth quarter. Comerica Bank now owns 87,681 shares of the biotechnology company's stock valued at $2,920,000 after buying an additional 544 shares during the period. AXA S.A. increased its stake in shares of Exelixis by 578.3% in the fourth quarter. AXA S.A. now owns 89,130 shares of the biotechnology company's stock valued at $2,968,000 after buying an additional 75,989 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Exelixis by 226.9% in the fourth quarter. BNP Paribas Financial Markets now owns 430,457 shares of the biotechnology company's stock valued at $14,334,000 after buying an additional 298,798 shares during the period. Bank of America Corp DE increased its stake in shares of Exelixis by 7.6% in the fourth quarter. Bank of America Corp DE now owns 1,214,689 shares of the biotechnology company's stock valued at $40,449,000 after buying an additional 86,307 shares during the period. Finally, Balyasny Asset Management L.P. increased its stake in shares of Exelixis by 1.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company's stock valued at $573,000 after buying an additional 317 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Stock Performance

Exelixis stock traded up $0.50 during mid-day trading on Friday, reaching $37.88. The stock had a trading volume of 2,524,501 shares, compared to its average volume of 2,313,595. Exelixis, Inc. has a fifty-two week low of $25.12 and a fifty-two week high of $49.62. The stock's 50-day simple moving average is $40.61 and its 200-day simple moving average is $39.61. The firm has a market capitalization of $10.20 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 0.78 and a beta of 0.32.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 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 during the quarter, compared to analysts' expectations of $574.36 million. During the same quarter last year, the firm posted $0.84 earnings per share. The company's revenue for the quarter was down 10.8% compared to the same quarter last year. Exelixis has set its FY 2025 guidance at EPS. On average, research analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EXEL shares. HC Wainwright decreased their price target on Exelixis from $53.00 to $46.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. William Blair reaffirmed an "outperform" rating on shares of Exelixis in a research note on Tuesday, July 29th. Guggenheim reaffirmed a "buy" rating and set a $45.00 target price on shares of Exelixis in a research note on Tuesday, July 29th. Wall Street Zen raised Exelixis from a "hold" rating to a "buy" rating in a research note on Sunday. Finally, Benchmark reaffirmed a "neutral" rating on shares of Exelixis in a research note on Monday, June 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Exelixis has a consensus rating of "Moderate Buy" and an average price target of $44.06.

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.