Exelixis, Inc. $EXEL Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. lowered its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 2.8% during the first quarter, Holdings Channel reports. The institutional investor owned 73,068 shares of the biotechnology company’s stock after selling 2,132 shares during the period. Summit Investment Advisors Inc.’s holdings in Exelixis were worth $2,698,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Exelixis in the 1st quarter valued at about $123,310,000. AQR Capital Management LLC lifted its position 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 acquiring an additional 2,926,884 shares in the last quarter. Invesco Ltd. raised its position 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 buying an additional 1,596,948 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in shares of Exelixis by 233.4% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,400,270 shares of the biotechnology company’s stock worth $51,698,000 after purchasing an additional 980,319 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Exelixis by 935.4% during the 1st quarter. Pacer Advisors Inc. now owns 678,067 shares of the biotechnology company’s stock valued at $25,034,000 after acquiring an additional 612,577 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Performance

Exelixis stock opened at $40.81 on Friday. The firm has a market capitalization of $10.99 billion, a P/E ratio of 19.62, a P/E/G ratio of 0.79 and a beta of 0.32. The company has a 50-day simple moving average of $38.97 and a 200-day simple moving average of $40.38. Exelixis, Inc. has a one year low of $31.90 and a one year high of $49.62.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.68 by $0.10. The company had revenue of $597.76 million for the quarter, compared to analyst estimates of $590.04 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. Exelixis’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 earnings per share. Exelixis has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EXEL shares. TD Cowen increased their price objective on shares of Exelixis from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays increased their target price on Exelixis from $40.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday. The Goldman Sachs Group began coverage on Exelixis in a research report on Wednesday, September 17th. They set a “buy” rating and a $47.00 price target on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Exelixis in a report on Tuesday, October 21st. Finally, UBS Group increased their target price on shares of Exelixis from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $45.45.

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.