Federated Hermes Inc. Has $38.21 Million Position in Exelixis, Inc. $EXEL

Federated Hermes Inc. increased its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 15.4% in the third quarter, Holdings Channel.com reports. The firm owned 925,063 shares of the biotechnology company’s stock after buying an additional 123,459 shares during the quarter. Federated Hermes Inc.’s holdings in Exelixis were worth $38,205,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EXEL. Truist Financial Corp grew its stake in shares of Exelixis by 1.1% during the second quarter. Truist Financial Corp now owns 22,292 shares of the biotechnology company’s stock worth $983,000 after buying an additional 250 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Exelixis by 0.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock valued at $4,521,000 after acquiring an additional 274 shares in the last quarter. Richardson Financial Services Inc. grew its position in Exelixis by 95.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 292 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in Exelixis by 6.4% in the 3rd quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company’s stock worth $225,000 after purchasing an additional 329 shares in the last quarter. Finally, Plato Investment Management Ltd raised its position in Exelixis by 6.5% in the second quarter. Plato Investment Management Ltd now owns 6,174 shares of the biotechnology company’s stock valued at $271,000 after purchasing an additional 377 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

EXEL has been the topic of several research reports. Truist Financial set a $51.00 price target on Exelixis in a report on Wednesday, January 14th. HC Wainwright boosted their target price on shares of Exelixis from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday. Wolfe Research started coverage on shares of Exelixis in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Bank of America lowered shares of Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price target on the stock. in a report on Monday, January 5th. Finally, Citigroup cut shares of Exelixis from a “market outperform” rating to an “underperform” rating in a research note on Monday, January 5th. Eleven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.95.

Insiders Place Their Bets

In other Exelixis news, EVP Patrick J. Haley sold 34,187 shares of Exelixis stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $41.88, for a total value of $1,431,751.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the executive vice president owned 664,778 shares in the company, valued at $28,253,065. The trade was a 6.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 245,235 shares of company stock valued at $10,490,600 over the last 90 days. 2.82% of the stock is owned by company insiders.

Exelixis Stock Performance

Exelixis stock opened at $42.28 on Friday. The firm 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 52-week low of $32.38 and a 52-week high of $49.62. The firm has a 50 day moving average price of $43.78 and a two-hundred day moving average price of $41.09.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data 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 company had revenue of $597.76 million during the quarter, compared to analysts’ expectations of $590.04 million. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. Exelixis’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 earnings per share. As a group, equities research analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

About Exelixis

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.