Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in Exelixis, Inc. $EXEL

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 49,520 shares of the biotechnology company’s stock, valued at approximately $2,183,000.

Several other large investors also recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Exelixis by 2.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,795,074 shares of the biotechnology company’s stock valued at $287,794,000 after acquiring an additional 164,134 shares in the last quarter. AQR Capital Management LLC raised its position in Exelixis by 73.8% in the first quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company’s stock valued at $250,869,000 after purchasing an additional 2,926,884 shares during the period. Invesco Ltd. raised its position in Exelixis by 40.2% in the first quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company’s stock valued at $205,725,000 after purchasing an additional 1,596,948 shares during the period. Nuveen LLC acquired a new position in shares of Exelixis during the first quarter worth about $123,310,000. Finally, Charles Schwab Investment Management Inc. boosted 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 during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity

In related news, EVP Dana Aftab sold 48,383 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $42.50, for a total value of $2,056,277.50. Following the completion of the transaction, the executive vice president directly owned 664,778 shares of the company’s stock, valued at $28,253,065. This represents a 6.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stelios Papadopoulos sold 100,000 shares of the firm’s stock in a transaction 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 in the company, valued at $51,790,879.40. This trade represents a 7.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 173,005 shares of company stock valued at $7,443,678. 2.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

EXEL has been the subject of several recent research reports. Oppenheimer reaffirmed a “market perform” rating and issued a $36.00 price objective on shares of Exelixis in a research report on Wednesday, November 5th. Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research note on Wednesday, October 8th. The Goldman Sachs Group began coverage on shares of Exelixis in a report on Wednesday, September 17th. They set a “buy” rating and a $47.00 price target for the company. Cowen reiterated a “buy” rating on shares of Exelixis in a report on Wednesday, November 5th. Finally, TD Cowen upped their price objective on shares of Exelixis from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.45.

Exelixis Trading Down 1.7%

NASDAQ:EXEL opened at $41.65 on Friday. The stock has a 50 day moving average of $39.47 and a 200-day moving average of $40.54. The firm has a market capitalization of $11.17 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 0.79 and a beta of 0.32. Exelixis, Inc. has a 52 week low of $31.90 and a 52 week high of $49.62.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (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 analyst estimates of $590.04 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The business’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 posted $0.47 EPS. Exelixis has set its FY 2025 guidance at EPS. As a group, analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal 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.