Abacus FCF Advisors LLC Purchases Shares of 142,813 Exelixis, Inc. $EXEL

Key Points

• Abacus FCF Advisors LLC acquired 142,813 shares of Exelixis, Inc., valued at approximately $6,294,000, during the second quarter, reflecting an ownership of about 0.05% in the company.
• Research analysts have mixed ratings for Exelixis; Zacks downgraded it to "hold" while Goldman Sachs and Guggenheim maintained "buy" ratings with target prices of $47.00 and $45.00 respectively.
• Exelixis reported earnings of $0.75 per share for the last quarter, exceeding estimates, but showed a 10.8% decline in revenue year-over-year.

Abacus FCF Advisors LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 142,813 shares of the biotechnology company's stock, valued at approximately $6,294,000. Abacus FCF Advisors LLC owned about 0.05% of Exelixis at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. increased its holdings in Exelixis by 2.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,795,074 shares of the biotechnology company's stock worth $287,794,000 after acquiring an additional 164,134 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Exelixis by 73.8% during the 1st quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company's stock valued at $250,869,000 after acquiring an additional 2,926,884 shares during the last quarter. Invesco Ltd. boosted its stake in Exelixis by 40.2% during the first quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company's stock worth $205,725,000 after buying an additional 1,596,948 shares during the period. Nuveen LLC purchased a new position in Exelixis during the first quarter worth about $123,310,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Exelixis by 2.1% during the 1st 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. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EXEL. Truist Financial reduced their target price on shares of Exelixis from $56.00 to $49.00 and set a "buy" rating on the stock in a report on Tuesday, July 29th. The Goldman Sachs Group assumed coverage on shares of Exelixis in a research report on Wednesday, September 17th. They set a "buy" rating and a $47.00 target price on the stock. Jefferies Financial Group set a $50.00 price objective on shares of Exelixis and gave the company a "buy" rating in a research note on Tuesday, June 24th. Stifel Nicolaus boosted their target price on shares of Exelixis from $38.00 to $41.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen lowered shares of Exelixis from a "buy" rating to a "hold" rating in a research report on Monday, September 15th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $44.42.

Exelixis Price Performance

Shares of NASDAQ EXEL traded up $0.07 during midday trading on Tuesday, hitting $39.65. 611,822 shares of the company's stock were exchanged, compared to its average volume of 2,991,017. Exelixis, Inc. has a twelve month low of $25.17 and a twelve month high of $49.62. The stock's 50 day moving average price is $39.40 and its 200-day moving average price is $39.71. The firm has a market cap of $10.67 billion, a P/E ratio of 19.06, a PEG ratio of 0.83 and a beta of 0.32.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.63 by $0.12. The firm had revenue of $568.26 million for the quarter, compared to analysts' expectations of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. Exelixis's revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. On average, analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

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.