Post Resch Tallon Group Inc. Sells 41,969 Shares of Exelixis, Inc. $EXEL

Key Points

• Post Resch Tallon Group cut its Exelixis stake by 83.3%. The fund sold 41,969 shares during the third quarter and retained 8,428 shares valued at approximately $492,000.
• Exelixis reported solid quarterly results, with EPS of $0.91 beating estimates of $0.85 and revenue increasing 10.6% year over year to $628.69 million. However, analysts’ consensus remains “Hold,” with an average price target of $50.36 versus the referenced share price of $59.02.
• Valuation concerns remain despite positive earnings sentiment. Analysts cited potential patent-related erosion for cabozantinib, while RBC lowered its target to $45 and Truist raised its target to $54 but maintained a Hold rating.

Post Resch Tallon Group Inc. reduced its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 83.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,428 shares of the biotechnology company's stock after selling 41,969 shares during the period. Post Resch Tallon Group Inc.'s holdings in Exelixis were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EXEL. Private Client Services LLC increased its position in Exelixis by 0.7% during the 3rd quarter. Private Client Services LLC now owns 28,539 shares of the biotechnology company's stock worth $1,667,000 after buying an additional 209 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in Exelixis by 0.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company's stock worth $2,549,000 after acquiring an additional 281 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in Exelixis by 3.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 9,077 shares of the biotechnology company's stock worth $389,000 after purchasing an additional 333 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in Exelixis by 2.8% in the 1st quarter. Chicago Partners Investment Group LLC now owns 16,204 shares of the biotechnology company's stock valued at $759,000 after purchasing an additional 442 shares during the period. Finally, Allworth Financial LP grew its position in shares of Exelixis by 4.7% during the 2nd quarter. Allworth Financial LP now owns 10,562 shares of the biotechnology company's stock worth $575,000 after purchasing an additional 478 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Exelixis News Roundup

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Zacks slightly raises long-term earnings forecast: Zacks Research increased its FY2028 EPS estimate for Exelixis to $4.22 from $4.21. Although the adjustment is modest and the firm maintains a “Hold” rating, the revision indicates stable expectations for future profitability. Zacks Research earnings estimate update
• Positive Sentiment: Some valuation commentary remains favorable: Coverage highlighted Exelixis as a potential value stock, while another analysis suggested the shares may be undervalued as investors focus on earnings and the company’s continued growth. Exelixis’ latest quarterly results showed earnings above expectations and revenue growth of 10.6% year over year. Zacks value stock analysis Exelixis may be undervalued analysis
• Neutral Sentiment: Truist raises its target but remains cautious: Truist Financial lifted its price target from $52 to $54 while retaining a “Hold” rating. The increase is supportive, but the new target still implies approximately 8.5% downside from the referenced share price. Truist raises Exelixis price target
• Negative Sentiment: RBC cuts its price target: Royal Bank of Canada reduced its target to $45 from $46 and kept a “Sector Perform” rating. The target implies roughly 23.8% downside, reinforcing concerns that the shares may be fully valued at current levels. RBC cuts Exelixis price target
• Negative Sentiment: Cabozantinib patent timing remains an overhang: Investors are assessing whether Exelixis’ valuation fully reflects the remaining patent protection for its key cancer drug, cabozantinib. Potential future patent-related erosion could limit upside and is contributing to caution around the stock. Exelixis cabozantinib patent analysis

Insider Buying and Selling at Exelixis

In related news, Director Mary Beckerle sold 9,812 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $53.66, for a total transaction of $526,511.92. Following the sale, the director owned 16,079 shares of the company's stock, valued at $862,799.14. This trade represents a 37.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EXEL has been the subject of several recent research reports. Citigroup reiterated a "market outperform" rating on shares of Exelixis in a research note on Monday, September 14th. Citizens Jmp boosted their price target on Exelixis from $50.00 to $55.00 and gave the company a "market outperform" rating in a research note on Wednesday, June 24th. HC Wainwright reaffirmed a "buy" rating and set a $56.00 price objective on shares of Exelixis in a research report on Thursday, July 2nd. BMO Capital Markets assumed coverage on shares of Exelixis in a research note on Tuesday, August 18th. They set a "market perform" rating and a $54.00 price objective on the stock. Finally, Stifel Nicolaus raised their target price on shares of Exelixis from $47.00 to $51.00 and gave the company a "hold" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $50.36.

Exelixis Price Performance

EXEL stock opened at $59.02 on Friday. The company has a 50 day simple moving average of $56.13 and a 200 day simple moving average of $52.15. The stock has a market cap of $14.62 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 1.74 and a beta of 0.47. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $61.14.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. The firm had revenue of $628.69 million for the quarter, compared to analyst estimates of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $0.75 earnings per share. On average, equities research analysts anticipate that Exelixis, Inc. will post 3.19 EPS for the current fiscal year.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer. The company's research and development activities are centered primarily on targeted therapies and other treatments for solid tumors.

Exelixis' principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer. The company also markets COMETRIQ, a cabozantinib formulation approved in the United States for progressive or metastatic medullary thyroid cancer.

Exelixis was founded in 1994 and is headquartered in Alameda, California.

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