Allspring Global Investments Holdings LLC Has $60.31 Million Stock Position in Exelixis, Inc. $EXEL

Allspring Global Investments Holdings LLC boosted its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 18.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,383,820 shares of the biotechnology company’s stock after purchasing an additional 216,048 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Exelixis were worth $60,307,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. TriaGen Wealth Management LLC acquired a new position in Exelixis during the third quarter worth about $2,024,000. BridgePort Financial Solutions LLC acquired a new stake in shares of Exelixis in the 3rd quarter valued at approximately $517,000. Candriam S.C.A. grew its holdings in shares of Exelixis by 18.4% during the 3rd quarter. Candriam S.C.A. now owns 696,104 shares of the biotechnology company’s stock valued at $28,749,000 after purchasing an additional 108,367 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Exelixis by 11.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock valued at $172,658,000 after purchasing an additional 419,596 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in Exelixis by 153.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock worth $101,720,000 after purchasing an additional 1,490,520 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Trading Up 2.7%

Shares of Exelixis stock opened at $44.04 on Thursday. The business has a 50-day moving average price of $42.70 and a two-hundred day moving average price of $42.05. Exelixis, Inc. has a 1-year low of $32.38 and a 1-year high of $49.62. The company has a market cap of $11.44 billion, a P/E ratio of 15.90, a PEG ratio of 0.96 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data 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. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The company had revenue of $598.66 million for the quarter, compared to the consensus estimate of $609.17 million. During the same period in the previous year, the business earned $0.55 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on EXEL shares. Royal Bank Of Canada cut their price objective on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. HC Wainwright upped their target price on Exelixis from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Wells Fargo & Company increased their target price on Exelixis from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 11th. Morgan Stanley lifted their price target on Exelixis from $48.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, February 2nd. Finally, Truist Financial raised Exelixis to a “strong-buy” rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.94.

Insider Transactions at Exelixis

In other news, Director Bob Oliver sold 30,250 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $43.81, for a total transaction of $1,325,252.50. Following the completion of the sale, the director owned 21,120 shares of the company’s stock, valued at $925,267.20. This trade represents a 58.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jack L. Wyszomierski sold 99,574 shares of Exelixis stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total transaction of $4,382,251.74. Following the completion of the sale, the director owned 279,942 shares of the company’s stock, valued at $12,320,247.42. This represents a 26.24% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 362,849 shares of company stock valued at $15,917,463. 2.82% of the stock is owned by insiders.

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.