American Century Companies Inc. Acquires 513,821 Shares of Exelixis, Inc. $EXEL

American Century Companies Inc. grew its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 85.3% in the second quarter, HoldingsChannel.com reports. The fund owned 1,116,436 shares of the biotechnology company’s stock after acquiring an additional 513,821 shares during the quarter. American Century Companies Inc.’s holdings in Exelixis were worth $49,207,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Journey Strategic Wealth LLC acquired a new position in Exelixis during the 2nd quarter worth approximately $281,000. Franklin Resources Inc. grew its stake in shares of Exelixis by 8.8% during the second quarter. Franklin Resources Inc. now owns 1,355,014 shares of the biotechnology company’s stock worth $59,722,000 after buying an additional 109,469 shares during the last quarter. MAI Capital Management increased its holdings in shares of Exelixis by 245.5% during the second quarter. MAI Capital Management now owns 3,783 shares of the biotechnology company’s stock worth $167,000 after buying an additional 2,688 shares in the last quarter. Hillsdale Investment Management Inc. lifted its stake in shares of Exelixis by 93.6% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 82,300 shares of the biotechnology company’s stock valued at $3,627,000 after acquiring an additional 39,800 shares during the last quarter. Finally, Seeds Investor LLC acquired a new stake in shares of Exelixis during the 2nd quarter valued at $207,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Performance

EXEL stock opened at $44.12 on Friday. The business has a 50-day simple moving average of $40.24 and a two-hundred day simple moving average of $40.87. The company has a market capitalization of $11.83 billion, a P/E ratio of 21.21, 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 results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.10. The business had revenue of $597.76 million for the quarter, compared to analysts’ expectations of $590.04 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 up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. Exelixis has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Leerink Partners upgraded shares of Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research report on Tuesday, October 21st. Leerink Partnrs raised shares of Exelixis from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. TD Cowen increased their price objective on Exelixis from $44.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Stifel Nicolaus set a $43.00 target price on Exelixis in a report on Wednesday, November 5th. Finally, Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $45.45.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Dana Aftab sold 48,383 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were 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 trade represents a 6.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary C. Beckerle sold 24,622 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $41.93, for a total value of $1,032,400.46. Following the completion of the sale, the director directly owned 21,380 shares in the company, valued at approximately $896,463.40. The trade was a 53.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 245,235 shares of company stock worth $10,490,600 over the last three months. Company insiders own 2.82% of the company’s stock.

Exelixis Company 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.