The Manufacturers Life Insurance Company Buys New Position in Exelixis, Inc. $EXEL

The Manufacturers Life Insurance Company bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 181,540 shares of the biotechnology company’s stock, valued at approximately $9,878,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of EXEL. Arkadios Wealth Advisors acquired a new position in shares of Exelixis in the first quarter valued at approximately $476,000. L2 Asset Management LLC acquired a new stake in Exelixis during the 2nd quarter worth approximately $6,839,000. Stephens Investment Management Group LLC boosted its position in Exelixis by 1.1% in the 4th quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company’s stock valued at $111,303,000 after buying an additional 28,265 shares during the period. JLB & Associates Inc. purchased a new position in Exelixis in the 2nd quarter valued at approximately $2,658,000. Finally, Commerce Bank acquired a new position in shares of Exelixis in the second quarter worth $4,295,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Trading Down 1.5%

Shares of EXEL stock opened at $54.45 on Friday. The firm has a fifty day moving average price of $54.57 and a 200 day moving average price of $49.00. The company has a market cap of $13.49 billion, a P/E ratio of 17.12, a PEG ratio of 1.62 and a beta of 0.44. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $57.57.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $628.69 million for the quarter, compared to analysts’ expectations of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.Exelixis’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. On average, equities analysts forecast that Exelixis, Inc. will post 3.19 EPS for the current year.

Key Headlines Impacting Exelixis

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Strong sales and earnings, along with reported institutional support, have helped Exelixis shares gain 43.5% over the past year. The company’s latest reported quarter also showed adjusted earnings of $0.91 per share, ahead of the $0.85 consensus estimate, while revenue increased 10.6% year over year. Strong Sales, Earnings Send Exelixis Shares Higher
• Positive Sentiment: Zacks Research raised its FY2026 EPS estimate to $3.18 from $3.12 and increased its Q1 2027 estimate to $0.80 from $0.79. It also lifted its Q3 2027 forecast slightly to $0.93 from $0.92, suggesting some confidence in near-term earnings execution.
• Neutral Sentiment: Exelixis remains near its 52-week high, with shares recently trading around $54.45 versus a high of $57.57. Its valuation is approximately 17 times earnings, while the company continues to show strong profitability, including a reported 35.3% net margin and 42.2% return on equity.
• Negative Sentiment: Zacks Research maintains a “Strong Sell” rating and made several downward revisions: FY2027 EPS fell to $3.57 from $3.60, Q2 2027 EPS declined to $0.84 from $0.89, Q4 2026 EPS decreased to $0.81 from $0.83, and Q1 2028 EPS edged down to $0.96 from $0.97. These cuts could pressure the stock despite the modest upward revisions elsewhere.
• Negative Sentiment: Options activity was unusually bearish on August 27, with traders purchasing 10,010 put contracts—about 826% above the average daily put volume of 1,081. The surge indicates increased demand for downside protection or speculation on a decline.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wall Street Zen lowered Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. TD Cowen lifted their price objective on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings raised Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. Stifel Nicolaus upped their target price on shares of Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company upped their target price on shares of Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.07.

Insider Activity

In other news, Director Mary C. Beckerle sold 9,812 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $53.66, for a total value of $526,511.92. Following the transaction, the director owned 16,079 shares in the company, valued at approximately $862,799.14. This represents a 37.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sue Gail Eckhardt sold 9,812 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $50.14, for a total value of $491,973.68. Following the sale, the director directly owned 16,079 shares in the company, valued at $806,201.06. This trade represents a 37.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 23,549 shares of company stock worth $1,216,894. 2.60% of the stock is currently 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.