Ieq Capital LLC Acquires 141,439 Shares of Exelixis, Inc. $EXEL

Ieq Capital LLC increased its position in Exelixis, Inc. (NASDAQ:EXEL) by 72.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 335,620 shares of the biotechnology company’s stock after purchasing an additional 141,439 shares during the quarter. Ieq Capital LLC owned approximately 0.12% of Exelixis worth $12,391,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mariner LLC increased its stake 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 buying an additional 2,355 shares in the last quarter. Stifel Financial Corp bought a new position in shares of Exelixis during the 4th quarter valued at about $1,669,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of Exelixis by 10.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 19,653 shares of the biotechnology company’s stock valued at $654,000 after purchasing an additional 1,914 shares in the last quarter. Northern Trust Corp raised its position in Exelixis by 25.7% in the 4th quarter. Northern Trust Corp now owns 2,478,460 shares of the biotechnology company’s stock valued at $82,533,000 after buying an additional 506,539 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Exelixis by 25.7% in the 4th quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company’s stock valued at $132,101,000 after buying an additional 810,857 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Sue Gail Eckhardt sold 18,838 shares of the company’s stock in a transaction 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 completion of the sale, the director directly owned 21,380 shares in the company, valued at approximately $913,781.20. This represents a 46.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack L. Wyszomierski sold 7,535 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were 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 of the company’s stock, valued at approximately $15,464,225.38. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.82% of the company’s stock.

Exelixis Price Performance

EXEL opened at $38.51 on Thursday. The business has a fifty day simple moving average of $41.38 and a 200 day simple moving average of $39.38. The company has a market capitalization of $10.37 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 0.79 and a beta of 0.29. Exelixis, Inc. has a 1 year low of $25.12 and a 1 year high of $49.62.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (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 the consensus estimate of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The firm’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. Equities analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Bank of America boosted their price target on Exelixis from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, June 5th. Guggenheim reaffirmed a “buy” rating and set a $45.00 price target on shares of Exelixis in a research report on Tuesday, July 29th. Stifel Nicolaus boosted their price target on Exelixis from $38.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, July 29th. Royal Bank Of Canada lowered their price target on Exelixis from $50.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 29th. Finally, Stephens raised Exelixis from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $29.00 to $60.00 in a research report on Tuesday, June 24th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $44.06.

Exelixis 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.