Raymond James Financial Inc. Buys 88,147 Shares of Exelixis, Inc. $EXEL

Key Points

• Raymond James Financial Inc. increased its stake in Exelixis, Inc. by 17.2% during the first quarter, now owning 600,026 shares valued at approximately $22.15 million.
• Director Jack L. Wyszomierski sold 7,535 shares and Director Sue Gail Eckhardt sold 18,838 shares of Exelixis stock, indicating insider activity as they reduced their positions by 2.06% and 46.84% respectively.
• Exelixis, Inc. reported an earnings per share (EPS) of $0.75 for the most recent quarter, surpassing analyst expectations of $0.63, despite a year-over-year revenue decline of 10.8%.

Raymond James Financial Inc. grew its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 17.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 600,026 shares of the biotechnology company's stock after purchasing an additional 88,147 shares during the quarter. Raymond James Financial Inc. owned approximately 0.22% of Exelixis worth $22,153,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EXEL. Mariner LLC boosted its position in shares of Exelixis by 13.1% in the fourth quarter. Mariner LLC now owns 20,373 shares of the biotechnology company's stock valued at $678,000 after acquiring an additional 2,355 shares during the period. Stifel Financial Corp bought a new stake in shares of Exelixis in the fourth quarter valued at approximately $1,669,000. Kovitz Investment Group Partners LLC boosted its position in shares of Exelixis by 10.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 19,653 shares of the biotechnology company's stock valued at $654,000 after acquiring an additional 1,914 shares during the period. Northern Trust Corp boosted its position in shares of Exelixis by 25.7% in the fourth quarter. Northern Trust Corp now owns 2,478,460 shares of the biotechnology company's stock valued at $82,533,000 after acquiring an additional 506,539 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Exelixis by 25.7% in the fourth quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company's stock valued at $132,101,000 after acquiring an additional 810,857 shares during the period. Institutional investors own 85.27% of the company's stock.

Exelixis Stock Performance

Shares of NASDAQ EXEL traded down $0.48 during midday trading on Friday, reaching $37.42. 2,589,106 shares of the company traded hands, compared to its average volume of 2,663,592. 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 0.29. The stock's 50-day simple moving average is $41.26 and its 200-day simple moving average is $39.49. Exelixis, Inc. has a 12 month low of $25.12 and a 12 month high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.12. The business had revenue of $568.26 million for 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%.Exelixis's revenue for the quarter was down 10.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Buying and Selling

In related news, Director Sue Gail Eckhardt sold 18,838 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $42.74, for a total transaction of $805,136.12. Following the sale, the director directly owned 21,380 shares in the company, valued at $913,781.20. This represents a 46.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack L. Wyszomierski sold 7,535 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $43.09, for a total value of $324,683.15. Following the sale, the director owned 358,882 shares in the company, valued at approximately $15,464,225.38. This trade represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.82% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. HC Wainwright reduced their price objective on Exelixis from $53.00 to $46.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. William Blair restated an "outperform" rating on shares of Exelixis in a research report on Tuesday, July 29th. JMP Securities restated a "market outperform" rating and set a $50.00 price objective on shares of Exelixis in a research report on Tuesday, July 29th. UBS Group set a $38.00 price objective on Exelixis and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Citigroup boosted their price objective on Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Thirteen investment 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 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.