Rafferty Asset Management LLC Has $8.68 Million Stock Position in Exelixis, Inc. $EXEL

Key Points

• Rafferty Asset Management LLC increased its stake in Exelixis, Inc. by 7.6% in Q1, owning 234,972 shares valued at approximately $8.68 million.
• Several institutional investors, like Nuveen LLC and Caisse DE Depot ET Placement DU Quebec, have also significantly increased their holdings in Exelixis, indicating strong interest from large stakeholders.
• Exelixis reported earnings of $0.75 EPS for the last quarter, surpassing analysts' expectations, although its revenue decreased by 10.8% compared to the same quarter last year.

Rafferty Asset Management LLC increased its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 234,972 shares of the biotechnology company's stock after acquiring an additional 16,615 shares during the quarter. Rafferty Asset Management LLC owned about 0.09% of Exelixis worth $8,675,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hemington Wealth Management lifted its stake in shares of Exelixis by 211.3% during the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 522 shares during the period. Colonial Trust Co SC lifted its stake in shares of Exelixis by 616.9% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 765 shares during the period. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Exelixis during the first quarter valued at $37,000. Costello Asset Management INC acquired a new position in shares of Exelixis during the first quarter valued at $39,000. Finally, Harbour Investments Inc. lifted its stake in shares of Exelixis by 900.0% during the first quarter. Harbour Investments Inc. now owns 1,100 shares of the biotechnology company's stock valued at $41,000 after acquiring an additional 990 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analyst Weigh In

EXEL has been the topic of several analyst reports. HC Wainwright cut their target price on Exelixis from $53.00 to $46.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. UBS Group set a $38.00 target price on Exelixis and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Stephens raised Exelixis from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $29.00 to $60.00 in a research note on Tuesday, June 24th. Barclays increased their target price on Exelixis from $29.00 to $40.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Finally, William Blair reiterated an "outperform" rating on shares of Exelixis in a report on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $44.06.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Jack L. Wyszomierski sold 7,535 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 358,882 shares of the company's stock, valued at $15,464,225.38. The trade was a 2.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.82% of the stock is owned by company insiders.

Exelixis Stock Performance

Exelixis stock traded down $0.48 during midday trading on Monday, reaching $37.42. The stock had a trading volume of 2,589,106 shares, compared to its average volume of 2,502,768. The firm's fifty day simple moving average is $41.26 and its 200-day simple moving average is $39.53. Exelixis, Inc. has a 1-year low of $25.12 and a 1-year high of $49.62. The stock has a market capitalization of $10.07 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 0.77 and a beta of 0.32.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (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 business had revenue of $568.26 million for the quarter, compared to analyst estimates of $574.36 million. During the same quarter last year, the firm earned $0.84 EPS. Exelixis'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, sell-side analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

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.