Federated Hermes Inc. Acquires 123,459 Shares of Exelixis, Inc. $EXEL

Federated Hermes Inc. boosted its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 15.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 925,063 shares of the biotechnology company’s stock after buying an additional 123,459 shares during the quarter. Federated Hermes Inc. owned approximately 0.34% of Exelixis worth $38,205,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Richardson Financial Services Inc. raised its stake in Exelixis by 95.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 292 shares during the period. Root Financial Partners LLC bought a new position in Exelixis during the third quarter worth $28,000. Luminist Capital LLC increased its holdings in shares of Exelixis by 2,740.0% in the second quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 685 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of Exelixis by 940.4% in the second quarter. Hantz Financial Services Inc. now owns 1,134 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 1,025 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Exelixis during the 2nd quarter worth about $60,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Performance

NASDAQ:EXEL opened at $42.28 on Friday. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 0.77 and a beta of 0.40. Exelixis, Inc. has a fifty-two week low of $32.38 and a fifty-two week high of $49.62. The stock has a fifty day moving average price of $43.78 and a 200-day moving average price of $41.09.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. The business had revenue of $597.76 million during the quarter, compared to the consensus estimate of $590.04 million. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.Exelixis’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Research analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on EXEL shares. Oppenheimer reiterated a “market perform” rating and issued a $36.00 price target on shares of Exelixis in a research note on Wednesday, November 5th. Morgan Stanley reiterated an “equal weight” rating and set a $48.00 target price (up previously from $45.00) on shares of Exelixis in a research note on Thursday, January 8th. Guggenheim downgraded Exelixis from a “buy” rating to a “neutral” rating in a research note on Monday, November 3rd. Wolfe Research began coverage on Exelixis in a report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Finally, Leerink Partners upgraded Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research report on Tuesday, October 21st. Eleven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $45.95.

Insider Activity

In related news, Director Stelios Papadopoulos sold 100,000 shares of Exelixis stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $43.55, for a total value of $4,355,000.00. Following the transaction, the director directly owned 1,189,228 shares of the company’s stock, valued at $51,790,879.40. This trade represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dana Aftab sold 48,383 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total transaction of $2,056,277.50. Following the transaction, the executive vice president owned 664,778 shares of the company’s stock, valued at approximately $28,253,065. This represents a 6.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 245,235 shares of company stock worth $10,490,600. Insiders own 2.82% of the company’s stock.

Exelixis Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.