Exelixis, Inc. $EXEL Shares Acquired by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC increased its stake in Exelixis, Inc. by 266.9% during the second quarter, now holding a total of 19,710 shares worth approximately $869,000.
• Exelixis reported $0.75 earnings per share for the last quarter, exceeding expectations, but saw a 10.8% decline in revenue year-over-year.
• The stock currently has a consensus price target of $44.42, with fourteen analysts rating it a Buy and nine a Hold.

Farther Finance Advisors LLC grew its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 266.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,710 shares of the biotechnology company's stock after buying an additional 14,338 shares during the quarter. Farther Finance Advisors LLC's holdings in Exelixis were worth $869,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Belpointe Asset Management LLC acquired a new position in shares of Exelixis in the 1st quarter valued at about $572,000. GAMMA Investing LLC lifted its holdings in shares of Exelixis by 32.2% in the 1st quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company's stock valued at $201,000 after buying an additional 1,328 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Exelixis by 10.6% in the 1st quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company's stock valued at $272,000 after buying an additional 707 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Exelixis by 23.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company's stock valued at $9,159,000 after buying an additional 47,845 shares during the period. Finally, Fortis Capital Advisors LLC acquired a new position in shares of Exelixis in the 1st quarter valued at about $572,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Price Performance

EXEL stock opened at $38.69 on Friday. The business has a 50 day simple moving average of $39.08 and a 200-day simple moving average of $39.70. The firm has a market capitalization of $10.42 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 0.80 and a beta of 0.32. Exelixis, Inc. has a 1 year low of $25.17 and a 1 year high of $49.62.

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

Analysts Set New Price Targets

EXEL has been the subject of a number of analyst reports. Zacks Research cut Exelixis from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Barclays initiated coverage on Exelixis in a report on Wednesday, September 17th. They issued an "equal weight" rating and a $40.00 price target for the company. JMP Securities reaffirmed a "market outperform" rating and issued a $50.00 price target on shares of Exelixis in a report on Tuesday, July 29th. Guggenheim reaffirmed a "buy" rating and issued a $45.00 price target on shares of Exelixis in a report on Tuesday, July 29th. Finally, The Goldman Sachs Group initiated coverage on Exelixis in a report on Wednesday, September 17th. They issued a "buy" rating and a $47.00 price target for the company. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Exelixis presently has an average rating of "Moderate Buy" and a consensus target price of $44.42.

Exelixis 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.

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