Exchange Traded Concepts LLC Purchases 103,464 Shares of Exelixis, Inc. $EXEL

Key Points

• Exchange Traded Concepts LLC increased its stake in Exelixis, Inc. by 363.2%, owning 131,950 shares worth approximately $5.82 million as of its latest filing.
• Multiple institutional investors have also expanded their holdings in Exelixis, resulting in institutional ownership of 85.27% of the company's stock.
• The stock's average target price is set at $44.42, with a consensus rating of "Moderate Buy" from analysts following the company.

Exchange Traded Concepts LLC increased its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 363.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,950 shares of the biotechnology company's stock after acquiring an additional 103,464 shares during the quarter. Exchange Traded Concepts LLC's holdings in Exelixis were worth $5,816,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Byrne Asset Management LLC lifted its holdings in Exelixis by 129.0% in the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company's stock valued at $31,000 after buying an additional 400 shares during the period. Family Legacy Financial Solutions LLC acquired a new position in shares of Exelixis in the 2nd quarter valued at about $33,000. Hemington Wealth Management boosted its position in shares of Exelixis by 211.3% during the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 522 shares in the last quarter. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Exelixis during the 1st quarter valued at about $37,000. Finally, Costello Asset Management INC bought a new stake in Exelixis in the first quarter worth approximately $39,000. 85.27% of the stock is currently owned by institutional investors.

Exelixis Stock Performance

NASDAQ:EXEL traded down $0.25 on Monday, hitting $39.85. The stock had a trading volume of 1,044,148 shares, compared to its average volume of 2,998,429. Exelixis, Inc. has a 1 year low of $25.17 and a 1 year high of $49.62. The firm's fifty day simple moving average is $39.52 and its two-hundred day simple moving average is $39.70. The stock has a market cap of $10.73 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 0.83 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 analysts' consensus estimates of $0.63 by $0.12. The company 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 was down 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. Equities research analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on EXEL. HC Wainwright reduced their price objective on shares of Exelixis from $53.00 to $46.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Barclays assumed coverage on shares of Exelixis in a research note on Wednesday, September 17th. They issued an "equal weight" rating and a $40.00 price target for the company. Bank of America increased their price objective on shares of Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. The Goldman Sachs Group initiated coverage on Exelixis in a research report on Wednesday, September 17th. They issued a "buy" rating and a $47.00 target price for the company. Finally, Truist Financial reduced their price objective on Exelixis from $56.00 to $49.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $44.42.

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.