Price T Rowe Associates Inc. MD Decreases Stock Holdings in Exelixis, Inc. $EXEL

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Exelixis, Inc. by 8.4%, totaling 1,618,518 shares after selling 148,323 shares in the first quarter.
• Exelixis recently reported $0.75 earnings per share, beating estimates of $0.63, although its revenue fell by 10.8% year-over-year to $568.26 million.
• Several analysts have issued upgraded target prices for Exelixis, with Citigroup raising theirs from $45.00 to $56.00 and maintaining a "buy" rating.

Price T Rowe Associates Inc. MD reduced its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 8.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,618,518 shares of the biotechnology company's stock after selling 148,323 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.59% of Exelixis worth $59,757,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Exelixis by 2.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,795,074 shares of the biotechnology company's stock worth $287,794,000 after buying an additional 164,134 shares during the last quarter. Invesco Ltd. boosted its holdings 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 during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Exelixis by 25.7% in the 4th quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company's stock worth $132,101,000 after buying an additional 810,857 shares during the last quarter. Nuveen LLC purchased a new position in shares of Exelixis in the 1st quarter worth about $123,310,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Exelixis by 2.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,321,407 shares of the biotechnology company's stock worth $122,626,000 after buying an additional 69,054 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Exelixis

In other news, Director Jack L. Wyszomierski sold 7,535 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $43.09, for a total transaction of $324,683.15. Following the completion of the transaction, the director directly owned 358,882 shares in the company, valued at $15,464,225.38. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.82% of the stock is owned by insiders.

Exelixis Stock Performance

EXEL stock traded down $0.48 on Monday, reaching $37.42. The company's stock had a trading volume of 2,589,106 shares, compared to its average volume of 2,502,768. The business has a fifty day simple moving average of $41.26 and a two-hundred day simple moving average of $39.53. Exelixis, Inc. has a 12-month low of $25.12 and a 12-month high of $49.62. The firm has a market cap of $10.07 billion, a PE ratio of 17.99, a PEG ratio of 0.77 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 the consensus estimate of $0.63 by $0.12. The business had revenue of $568.26 million during the quarter, compared to analyst estimates of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The company's revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on EXEL. Wall Street Zen downgraded shares of Exelixis from a "buy" rating to a "hold" rating in a report on Saturday. Stephens upgraded shares of Exelixis from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $29.00 to $60.00 in a research report on Tuesday, June 24th. Jefferies Financial Group set a $50.00 target price on shares of Exelixis and gave the stock a "buy" rating in a research report on Tuesday, June 24th. UBS Group set a $38.00 target price on shares of Exelixis and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus increased their target price on shares of Exelixis from $38.00 to $41.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Thirteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.06.

About Exelixis

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.