Financiere des Professionnels Fonds d investissement inc. Purchases New Position in Exelixis, Inc. $EXEL

Key Points

• Financiere des Professionnels Fonds d investissement inc. acquired 20,655 shares of Exelixis, Inc., valued at approximately $910,000, during Q2, according to their Form 13F filing with the SEC.
• Exelixis reported a net margin of 27.01% in its recent earnings release and a year-over-year revenue decline of 10.8%, with an EPS of $0.75 that exceeded analysts' expectations.
• The average rating for Exelixis from analysts is a "Moderate Buy", with a consensus price target set at $44.42, reflecting a range of target adjustments from several financial firms.

Financiere des Professionnels Fonds d investissement inc. acquired a new position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,655 shares of the biotechnology company's stock, valued at approximately $910,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of EXEL. Nuveen LLC purchased a new position in Exelixis in the 1st quarter worth $123,310,000. AQR Capital Management LLC grew its position in Exelixis by 73.8% during the 1st quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company's stock worth $250,869,000 after purchasing an additional 2,926,884 shares during the period. Invesco Ltd. grew its position in Exelixis by 40.2% during the 1st quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company's stock worth $205,725,000 after purchasing an additional 1,596,948 shares during the period. Jupiter Asset Management Ltd. grew its position in Exelixis by 233.4% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,400,270 shares of the biotechnology company's stock worth $51,698,000 after purchasing an additional 980,319 shares during the period. Finally, Voloridge Investment Management LLC acquired a new stake in Exelixis during the 4th quarter worth about $30,321,000. Institutional investors own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EXEL. Barclays began coverage on Exelixis in a research report on Wednesday. They set an "equal weight" rating and a $40.00 price target on the stock. The Goldman Sachs Group initiated coverage on Exelixis in a research report on Wednesday. They set a "buy" rating and a $47.00 price target on the stock. UBS Group set a $38.00 target price on Exelixis and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Wall Street Zen cut Exelixis from a "buy" rating to a "hold" rating in a research report on Monday, September 15th. Finally, Benchmark restated a "neutral" rating on shares of Exelixis in a research report on Monday, June 23rd. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.42.

Exelixis Stock Performance

Shares of NASDAQ:EXEL traded down $0.35 during trading on Friday, hitting $40.10. The company's stock had a trading volume of 7,751,452 shares, compared to its average volume of 2,270,912. The business has a 50 day moving average price of $39.52 and a two-hundred day moving average price of $39.69. The company has a market capitalization of $10.79 billion, a PE ratio of 19.28, a P/E/G ratio of 0.83 and a beta of 0.32. Exelixis, Inc. has a fifty-two week low of $25.17 and a fifty-two week 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 EPS for the quarter, topping the consensus estimate of $0.63 by $0.12. The business had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The company's quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

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.