American Century Companies Inc. Grows Stake in Exelixis, Inc. $EXEL

American Century Companies Inc. increased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 44.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 602,615 shares of the biotechnology company’s stock after purchasing an additional 186,750 shares during the quarter. American Century Companies Inc. owned approximately 0.22% of Exelixis worth $22,249,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. grew its position in shares of Exelixis by 40.2% during the first quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company’s stock worth $205,725,000 after purchasing an additional 1,596,948 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Exelixis by 25.7% in the fourth quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company’s stock worth $132,101,000 after buying an additional 810,857 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Exelixis in the first quarter worth about $123,310,000. Charles Schwab Investment Management Inc. lifted its position in shares of Exelixis by 2.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,321,407 shares of the biotechnology company’s stock worth $122,626,000 after buying an additional 69,054 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Exelixis by 330.4% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company’s stock worth $82,730,000 after buying an additional 1,907,167 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EXEL shares. Truist Financial decreased 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. Jefferies Financial Group set a $50.00 target price on Exelixis and gave the stock a “buy” rating in a research report on Tuesday, June 24th. HC Wainwright decreased their target price on Exelixis from $53.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Wall Street Zen downgraded Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, William Blair reiterated an “outperform” rating on shares of Exelixis in a research report on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Exelixis has an average rating of “Moderate Buy” and an average price target of $44.06.

Exelixis Price Performance

Exelixis stock opened at $38.63 on Friday. Exelixis, Inc. has a 1-year low of $25.12 and a 1-year high of $49.62. The firm has a market capitalization of $10.40 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 0.80 and a beta of 0.29. The company’s 50-day moving average is $41.56 and its 200 day moving average is $39.32.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. The company had revenue of $568.26 million for the quarter, compared to analyst estimates of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. Research analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Activity

In other Exelixis news, Director Jack L. Wyszomierski sold 7,535 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total value of $324,683.15. Following the completion of the sale, the director directly owned 358,882 shares of the company’s stock, valued at $15,464,225.38. The trade was a 2.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sue Gail Eckhardt sold 18,838 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were 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 of the company’s stock, valued at approximately $913,781.20. This trade represents a 46.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.82% of the stock is owned by insiders.

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.