Bayforest Capital Ltd Invests $932,000 in Exelixis, Inc. $EXEL

Key Points

• Bayforest Capital Ltd acquired a new stake in Exelixis, Inc., purchasing 25,240 shares worth approximately $932,000 during the first quarter.
• Exelixis reported $0.75 earnings per share (EPS) for the latest quarter, exceeding analysts' expectations of $0.63, but its revenue of $568.26 million was down 10.8% year-over-year.
• Wall Street analysts have a positive outlook on Exelixis, with an average price target of $44.06 and ratings predominantly leaning towards "buy" or "overweight."

Bayforest Capital Ltd purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 25,240 shares of the biotechnology company's stock, valued at approximately $932,000.

Several other large investors also recently modified their holdings of the stock. McIlrath & Eck LLC purchased a new stake in shares of Exelixis during the 1st quarter worth approximately $52,000. Empowered Funds LLC increased its stake in shares of Exelixis by 35.2% during the 1st quarter. Empowered Funds LLC now owns 302,603 shares of the biotechnology company's stock worth $11,172,000 after purchasing an additional 78,724 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Exelixis during the 1st quarter worth approximately $1,237,000. Fred Alger Management LLC increased its stake in shares of Exelixis by 45.9% during the 1st quarter. Fred Alger Management LLC now owns 21,094 shares of the biotechnology company's stock worth $779,000 after purchasing an additional 6,641 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Exelixis by 4.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company's stock worth $54,153,000 after purchasing an additional 68,133 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Exelixis Price Performance

NASDAQ:EXEL traded up $0.08 during trading hours on Friday, hitting $39.15. The stock had a trading volume of 2,475,619 shares, compared to its average volume of 2,200,644. The company has a 50 day simple moving average of $39.97 and a two-hundred day simple moving average of $39.62. Exelixis, Inc. has a one year low of $25.17 and a one year high of $49.62. The firm has a market capitalization of $10.54 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 0.81 and a beta of 0.32.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Exelixis from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. 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. Bank of America lifted their price objective on shares of Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Zacks Research lowered shares of Exelixis from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Stifel Nicolaus lifted their price objective on shares of Exelixis from $38.00 to $41.00 and gave the company a "hold" rating in a research note on Tuesday, July 29th. Thirteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $44.06.

About Exelixis

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.