Wellington Management Group LLP Has $5.85 Million Holdings in Exelixis, Inc. $EXEL

Key Points

• Wellington Management increased its Exelixis stake by 31% in the second quarter, bringing its holdings to 107,573 shares valued at approximately $5.85 million. Institutional investors collectively own 85.27% of EXEL.
• Exelixis reported quarterly EPS of $0.91, exceeding analyst expectations of $0.85, while revenue rose 10.6% year over year to $628.69 million, slightly below estimates.
• EXEL shares opened at $58.33, near their 12-month high, but Wall Street maintains a consensus “Hold” rating with a $50.07 price target; one director also sold $526,512 worth of shares under a pre-arranged trading plan.

Wellington Management Group LLP increased its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 31.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,573 shares of the biotechnology company's stock after acquiring an additional 25,481 shares during the quarter. Wellington Management Group LLP's holdings in Exelixis were worth $5,853,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EXEL. Beacon Pointe Advisors LLC increased its stake in shares of Exelixis by 28.7% in the second quarter. Beacon Pointe Advisors LLC now owns 7,240 shares of the biotechnology company's stock worth $394,000 after purchasing an additional 1,614 shares during the period. Caitlin John LLC bought a new stake in Exelixis during the 2nd quarter valued at approximately $668,000. Transamerica Financial Advisors LLC grew its holdings in Exelixis by 41.7% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 4,673 shares of the biotechnology company's stock valued at $254,000 after buying an additional 1,376 shares during the last quarter. Corient Private Wealth LP acquired a new stake in Exelixis in the 2nd quarter valued at approximately $4,324,000. Finally, Bank of America Corp DE increased its position in Exelixis by 30.7% in the 2nd quarter. Bank of America Corp DE now owns 2,149,397 shares of the biotechnology company's stock worth $116,949,000 after buying an additional 504,660 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Exelixis Trading Up 1.1%

Shares of EXEL stock opened at $58.33 on Thursday. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $59.72. The company has a market capitalization of $14.45 billion, a P/E ratio of 18.34, a P/E/G ratio of 1.72 and a beta of 0.42. The stock has a 50 day moving average of $55.31 and a two-hundred day moving average of $49.84.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Truist Financial cut their price target on Exelixis from $56.00 to $52.00 and set a "hold" rating for the company in a report on Thursday, August 6th. Wall Street Zen downgraded shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Stifel Nicolaus boosted their target price on shares of Exelixis from $47.00 to $51.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. Wells Fargo & Company upped their target price on shares of Exelixis from $40.00 to $49.00 and gave the company an "equal weight" rating in a research note on Monday, July 13th. Finally, Morgan Stanley increased their price target on shares of Exelixis from $50.00 to $53.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $50.07.

Insider Transactions at Exelixis

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of Exelixis stock in a transaction that occurred 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 directly owned 16,079 shares of the company's stock, valued at approximately $862,799.14. The trade was a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is owned by company insiders.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis's translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company's most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.

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