Los Angeles Capital Management LLC Increases Stock Holdings in Exelixis, Inc. $EXEL

Los Angeles Capital Management LLC increased its stake in Exelixis, Inc. (NASDAQ:EXEL) by 41.0% in the second quarter, Holdings Channel reports. The institutional investor owned 1,230,141 shares of the biotechnology company’s stock after acquiring an additional 357,536 shares during the period. Los Angeles Capital Management LLC’s holdings in Exelixis were worth $54,218,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Byrne Asset Management LLC lifted 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 worth $31,000 after purchasing an additional 400 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new position in Exelixis in the 2nd quarter valued at $33,000. Hemington Wealth Management increased its stake in Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 522 shares during the period. Steph & Co. bought a new stake in shares of Exelixis during the second quarter worth $44,000. Finally, Costello Asset Management INC purchased a new stake in shares of Exelixis during the first quarter valued at $39,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Stock Performance

Shares of EXEL stock opened at $40.81 on Friday. Exelixis, Inc. has a fifty-two week low of $31.90 and a fifty-two week high of $49.62. The stock’s 50-day simple moving average is $38.97 and its 200-day simple moving average is $40.35. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 0.79 and a beta of 0.32.

Exelixis (NASDAQ:EXEL) last released its earnings results 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. The firm had revenue of $597.76 million for the quarter, compared to the consensus estimate of $590.04 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. Exelixis has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

EXEL has been the subject of several research reports. JMP Securities reissued a “market outperform” rating and issued a $50.00 price objective on shares of Exelixis in a research report on Tuesday, July 29th. William Blair reissued an “outperform” rating on shares of Exelixis in a research note on Tuesday, July 29th. The Goldman Sachs Group started 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. Leerink Partners upgraded Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a report on Tuesday, October 21st. Finally, HC Wainwright increased their target price on shares of Exelixis from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $45.45.

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.