Exelixis, Inc. $EXEL Shares Bought by Empowered Funds LLC

Key Points

• Empowered Funds LLC has increased its stake in Exelixis, Inc. by 35.2%, holding a total of 302,603 shares valued at approximately $11.17 million as of its latest SEC filing.
• Notable institutional investors have also significantly raised their positions in Exelixis, with 85.27% of the stock now owned by hedge funds and other institutional investors.
• Exelixis reported earnings of $0.75 per share for the last quarter, exceeding analysts’ expectations, despite a 10.8% decline in revenue year-over-year.

Empowered Funds LLC lifted its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 35.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 302,603 shares of the biotechnology company's stock after acquiring an additional 78,724 shares during the period. Empowered Funds LLC owned 0.11% of Exelixis worth $11,172,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EXEL. Bank of America Corp DE lifted its holdings in shares of Exelixis by 7.6% in the 4th quarter. Bank of America Corp DE now owns 1,214,689 shares of the biotechnology company's stock valued at $40,449,000 after acquiring an additional 86,307 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Exelixis by 1.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company's stock worth $573,000 after purchasing an additional 317 shares during the last quarter. Captrust Financial Advisors lifted its stake in Exelixis by 56.5% in the fourth quarter. Captrust Financial Advisors now owns 55,457 shares of the biotechnology company's stock worth $1,847,000 after purchasing an additional 20,027 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in Exelixis by 11.8% in the fourth quarter. EP Wealth Advisors LLC now owns 13,194 shares of the biotechnology company's stock worth $439,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Graham Capital Management L.P. lifted its stake in Exelixis by 81.2% in the fourth quarter. Graham Capital Management L.P. now owns 19,821 shares of the biotechnology company's stock worth $660,000 after purchasing an additional 8,883 shares during the last quarter. Institutional investors own 85.27% of the company's stock.

Exelixis Price Performance

Shares of NASDAQ:EXEL traded up $0.08 during trading on Friday, reaching $39.15. 2,475,619 shares of the company were exchanged, compared to its average volume of 2,200,644. The firm has a market capitalization of $10.54 billion, a PE ratio of 18.82, a P/E/G ratio of 0.81 and a beta of 0.32. The business's fifty day simple moving average is $39.97 and its 200-day simple moving average is $39.64. Exelixis, Inc. has a 12-month low of $25.17 and a 12-month high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping 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 business had revenue of $568.26 million for the quarter, compared to analyst estimates of $574.36 million. During the same period in the previous year, the company earned $0.84 earnings per share. The business's revenue for the quarter was down 10.8% on a year-over-year basis. Exelixis has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on EXEL. Jefferies Financial Group set a $50.00 price objective on shares of Exelixis and gave the stock a "buy" rating in a research note on Tuesday, June 24th. William Blair reissued an "outperform" rating on shares of Exelixis in a research note on Tuesday, July 29th. Truist Financial decreased their price objective on shares of Exelixis from $56.00 to $49.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Barclays raised their price objective on shares of Exelixis from $29.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Finally, HC Wainwright decreased their price objective on shares of Exelixis from $53.00 to $46.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Exelixis presently has an average rating of "Moderate Buy" and a consensus target price of $44.06.

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.