Swiss National Bank Sells 16,600 Shares of Exelixis, Inc. $EXEL

Swiss National Bank decreased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 481,300 shares of the biotechnology company’s stock after selling 16,600 shares during the period. Swiss National Bank owned 0.18% of Exelixis worth $21,213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of EXEL. Avantax Advisory Services Inc. purchased a new stake in shares of Exelixis during the 1st quarter valued at $551,000. Cetera Investment Advisers raised its stake in Exelixis by 1.6% in the first quarter. Cetera Investment Advisers now owns 118,599 shares of the biotechnology company’s stock valued at $4,379,000 after buying an additional 1,925 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Exelixis by 12.2% in the first quarter. HB Wealth Management LLC now owns 23,485 shares of the biotechnology company’s stock worth $867,000 after acquiring an additional 2,549 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Exelixis by 3.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,913 shares of the biotechnology company’s stock worth $2,434,000 after acquiring an additional 2,466 shares in the last quarter. Finally, LPL Financial LLC grew its stake in shares of Exelixis by 74.5% during the first quarter. LPL Financial LLC now owns 187,097 shares of the biotechnology company’s stock worth $6,908,000 after acquiring an additional 79,885 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on EXEL. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research report on Wednesday, October 8th. Leerink Partners raised shares of Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a report on Tuesday, October 21st. UBS Group lifted their price objective on shares of Exelixis from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Truist Financial cut their target price on Exelixis from $56.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, July 29th. Finally, HC Wainwright lifted their price target on Exelixis from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.45.

Insider Activity

In related news, Director Mary C. Beckerle sold 24,622 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $41.93, for a total transaction of $1,032,400.46. Following the sale, the director directly owned 21,380 shares of the company’s stock, valued at approximately $896,463.40. This represents a 53.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Dana Aftab sold 48,383 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $42.50, for a total transaction of $2,056,277.50. Following the sale, the executive vice president directly owned 664,778 shares in the company, valued at approximately $28,253,065. The trade was a 6.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 245,235 shares of company stock valued at $10,490,600. 2.82% of the stock is currently owned by company insiders.

Exelixis Stock Performance

NASDAQ:EXEL opened at $43.13 on Wednesday. The firm’s fifty day moving average is $40.01 and its two-hundred day moving average is $40.78. The firm has a market cap of $11.56 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 0.79 and a beta of 0.32. Exelixis, Inc. has a one year low of $31.90 and a one year high of $49.62.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.10. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The business had revenue of $597.76 million during the quarter, compared to analysts’ expectations of $590.04 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Exelixis has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

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.