Exelixis, Inc. $EXEL Shares Bought by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its holdings in Exelixis, Inc. by 237.2%, acquiring a total of 67,581 shares valued at approximately $2,979,000.
• The stock has received multiple analysts' upgrades, with Goldman Sachs initiating coverage with a "buy" rating and a target price of $47.00.
• Exelixis reported a quarterly earnings per share (EPS) of $0.75, surpassing the consensus estimate of $0.63, despite a 10.8% decline in revenue compared to the previous year.

Ritholtz Wealth Management raised its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 237.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,581 shares of the biotechnology company's stock after purchasing an additional 47,537 shares during the quarter. Ritholtz Wealth Management's holdings in Exelixis were worth $2,979,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Moran Wealth Management LLC increased its stake in shares of Exelixis by 2.2% during the second quarter. Moran Wealth Management LLC now owns 95,312 shares of the biotechnology company's stock worth $4,201,000 after acquiring an additional 2,040 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Exelixis during the second quarter worth about $300,000. RHS Financial LLC increased its stake in shares of Exelixis by 4.4% during the second quarter. RHS Financial LLC now owns 12,297 shares of the biotechnology company's stock worth $542,000 after acquiring an additional 519 shares during the period. CWM LLC increased its stake in shares of Exelixis by 12.9% during the second quarter. CWM LLC now owns 150,334 shares of the biotechnology company's stock worth $6,626,000 after acquiring an additional 17,145 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Exelixis by 8.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 45,677 shares of the biotechnology company's stock worth $2,013,000 after acquiring an additional 3,663 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on EXEL shares. The Goldman Sachs Group started coverage on shares of Exelixis in a research note on Wednesday, September 17th. They set a "buy" rating and a $47.00 price target on the stock. William Blair reiterated an "outperform" rating on shares of Exelixis in a research note on Tuesday, July 29th. Morgan Stanley boosted their price target on shares of Exelixis from $46.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 17th. Barclays began coverage on shares of Exelixis in a research note on Wednesday, September 17th. They set an "equal weight" rating and a $40.00 price target on the stock. Finally, UBS Group set a $38.00 target price on shares of Exelixis and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Exelixis currently has an average rating of "Moderate Buy" and a consensus target price of $44.42.

Exelixis Trading Up 1.3%

Shares of EXEL opened at $40.03 on Thursday. The firm's 50-day moving average is $38.75 and its two-hundred day moving average is $39.96. Exelixis, Inc. has a twelve month low of $27.86 and a twelve month high of $49.62. The firm has a market capitalization of $10.78 billion, a P/E ratio of 19.25, a PEG ratio of 0.79 and a beta of 0.38.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (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 company had revenue of $568.26 million for the quarter, compared to the consensus estimate of $574.36 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The company's revenue for the quarter was down 10.8% compared to the same quarter last year. Exelixis has set its FY 2025 guidance at EPS. Analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

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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