LGT Fund Management Co Ltd. Raises Holdings in Exelixis, Inc. $EXEL

LGT Fund Management Co Ltd. raised its position in Exelixis, Inc. (NASDAQ:EXEL) by 27.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 97,005 shares of the biotechnology company’s stock after acquiring an additional 21,171 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Exelixis were worth $4,275,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Byrne Asset Management LLC boosted its stake in Exelixis by 129.0% in the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 400 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in Exelixis in the second quarter valued at approximately $33,000. Hemington Wealth Management boosted its stake in Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 522 shares in the last quarter. Bartlett & CO. Wealth Management LLC acquired a new stake in Exelixis in the first quarter valued at approximately $37,000. Finally, Steph & Co. acquired a new stake in Exelixis in the second quarter valued at approximately $44,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EXEL. Zacks Research downgraded shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Morgan Stanley lifted their price objective on shares of Exelixis from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 17th. Stifel Nicolaus lifted their price objective on shares of Exelixis from $38.00 to $41.00 and gave the stock a “hold” rating in a research note on Tuesday, July 29th. UBS Group set a $38.00 price objective on shares of Exelixis and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Finally, JMP Securities reiterated a “market outperform” rating and set a $50.00 price objective on shares of Exelixis in a research note on Tuesday, July 29th. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and a consensus price target of $44.42.

Exelixis Price Performance

NASDAQ EXEL opened at $40.09 on Friday. The company has a market capitalization of $10.79 billion, a PE ratio of 19.27, a P/E/G ratio of 0.85 and a beta of 0.38. The company has a fifty day moving average of $38.57 and a 200 day moving average of $39.85. Exelixis, Inc. has a 1 year low of $25.17 and a 1 year high of $49.62.

Exelixis (NASDAQ:EXEL) last posted 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. The company had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. Research analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current year.

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.