Exelixis, Inc. $EXEL Shares Sold by Swedbank AB

Key Points

• Swedbank AB reduced its holdings in Exelixis, Inc. by 11.0%, owning 841,778 shares valued at approximately $37.1 million after selling 104,500 shares in the second quarter.
• Analysts have varied opinions on Exelixis, with 14 rating it as a Buy and 9 as a Hold, while the average target price is $44.42.
• Exelixis reported a $0.75 EPS for the last quarter, surpassing estimates, but experienced a 10.8% decline in revenue compared to the same quarter last year.

Swedbank AB lowered its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 11.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 841,778 shares of the biotechnology company's stock after selling 104,500 shares during the quarter. Swedbank AB owned approximately 0.31% of Exelixis worth $37,101,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Exelixis by 2.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 7,795,074 shares of the biotechnology company's stock valued at $287,794,000 after acquiring an additional 164,134 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Exelixis by 73.8% in the first quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company's stock valued at $250,869,000 after purchasing an additional 2,926,884 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Exelixis by 40.2% in the first quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company's stock valued at $205,725,000 after purchasing an additional 1,596,948 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Exelixis in the first quarter valued at approximately $123,310,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Exelixis by 2.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,321,407 shares of the biotechnology company's stock valued at $122,626,000 after purchasing an additional 69,054 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Trading Up 0.2%

NASDAQ:EXEL traded up $0.09 during midday trading on Tuesday, reaching $39.67. The company had a trading volume of 218,540 shares, compared to its average volume of 2,988,747. The firm has a market capitalization of $10.68 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 0.83 and a beta of 0.32. The stock's fifty day simple moving average is $39.40 and its 200-day simple moving average is $39.71. Exelixis, Inc. has a 12-month low of $25.17 and a 12-month high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last released 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 firm had revenue of $568.26 million during the quarter, compared to analyst estimates of $574.36 million. During the same period last year, the business posted $0.84 earnings per share. Exelixis's revenue was down 10.8% compared to the same quarter last year. Exelixis has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Exelixis, Inc. will post 2.04 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank Of Canada cut their price target on Exelixis from $50.00 to $45.00 and set a "sector perform" rating for the company in a report on Tuesday, July 29th. Morgan Stanley increased their price target on Exelixis from $46.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, September 17th. Stephens raised Exelixis from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $29.00 to $60.00 in a research note on Tuesday, June 24th. Benchmark reissued a "neutral" rating on shares of Exelixis in a research note on Monday, June 23rd. Finally, Zacks Research cut Exelixis from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Exelixis presently has an average rating of "Moderate Buy" and an average target price of $44.42.

Exelixis Company 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.