Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Exelixis, Inc. $EXEL

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Exelixis, Inc. (NASDAQ:EXEL) by 29.4% in the 4th quarter, Holdings Channel reports. The fund owned 95,344 shares of the biotechnology company’s stock after acquiring an additional 21,688 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Exelixis were worth $4,179,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in EXEL. Farallon Capital Management LLC lifted its stake in shares of Exelixis by 21.6% in the 3rd quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock worth $805,412,000 after acquiring an additional 3,466,000 shares during the period. Assetmark Inc. lifted its stake in shares of Exelixis by 1,230.8% in the 3rd quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company’s stock worth $131,994,000 after acquiring an additional 2,955,813 shares during the period. AQR Capital Management LLC lifted its stake in shares of Exelixis by 20.7% in the 3rd quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock worth $379,190,000 after acquiring an additional 1,575,280 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Exelixis by 153.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock worth $101,720,000 after acquiring an additional 1,490,520 shares during the period. Finally, UBS Group AG lifted its stake in shares of Exelixis by 100.1% in the 3rd quarter. UBS Group AG now owns 2,655,069 shares of the biotechnology company’s stock worth $109,654,000 after acquiring an additional 1,328,087 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Stock Down 2.4%

Shares of EXEL opened at $44.94 on Friday. The company has a 50-day simple moving average of $43.26 and a 200-day simple moving average of $42.63. The company has a market capitalization of $11.42 billion, a PE ratio of 16.22, a P/E/G ratio of 1.03 and a beta of 0.42. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $49.62.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.20. The business had revenue of $598.66 million during the quarter, compared to the consensus estimate of $609.17 million. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 EPS. On average, research analysts anticipate that Exelixis, Inc. will post 3.06 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Dana Aftab sold 47,918 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total value of $2,132,351.00. Following the completion of the transaction, the executive vice president owned 616,106 shares in the company, valued at $27,416,717. This trade represents a 7.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 67,814 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $43.52, for a total transaction of $2,951,265.28. Following the completion of the transaction, the executive vice president owned 381,908 shares of the company’s stock, valued at $16,620,636.16. This represents a 15.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 362,849 shares of company stock worth $15,917,463. Insiders own 2.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on EXEL. Truist Financial upgraded shares of Exelixis to a “strong-buy” rating in a research note on Wednesday, March 25th. Citigroup cut shares of Exelixis from a “market outperform” rating to an “underperform” rating in a research note on Monday, January 5th. Wall Street Zen cut shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 18th. Morgan Stanley raised their target price on shares of Exelixis from $48.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, February 2nd. Finally, Barclays raised their target price on shares of Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $47.00.

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.