Fortis Capital Advisors LLC Makes New Investment in Exelixis, Inc. $EXEL

Key Points

• Fortis Capital Advisors LLC made a new investment in Exelixis, acquiring 15,487 shares valued at approximately $572,000 in the first quarter of 2023.
• Exelixis has seen significant interest from institutional investors, with 85.27% of its stock currently owned by such investors.
• Wall Street analysts have mixed ratings for Exelixis, with a consensus rating of "Moderate Buy" and an average target price of $44.06.

Fortis Capital Advisors LLC bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 15,487 shares of the biotechnology company's stock, valued at approximately $572,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hemington Wealth Management boosted its stake in shares of Exelixis by 211.3% during the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 522 shares during the period. Bartlett & CO. Wealth Management LLC bought a new position in shares of Exelixis during the 1st quarter worth approximately $37,000. Costello Asset Management INC bought a new position in shares of Exelixis during the 1st quarter worth approximately $39,000. Harbour Investments Inc. boosted its stake in shares of Exelixis by 900.0% during the 1st quarter. Harbour Investments Inc. now owns 1,100 shares of the biotechnology company's stock worth $41,000 after acquiring an additional 990 shares during the period. Finally, McIlrath & Eck LLC bought a new position in shares of Exelixis during the 1st quarter worth approximately $52,000. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on EXEL shares. Stifel Nicolaus increased their target price on Exelixis from $38.00 to $41.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Benchmark restated a "neutral" rating on shares of Exelixis in a research note on Monday, June 23rd. Zacks Research downgraded Exelixis from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. HC Wainwright reduced their price target on Exelixis from $53.00 to $46.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Finally, Royal Bank Of Canada reduced their price target on Exelixis from $50.00 to $45.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $44.06.

Exelixis Stock Performance

NASDAQ:EXEL opened at $37.70 on Thursday. The stock has a fifty day moving average price of $40.25 and a 200-day moving average price of $39.60. The company has a market cap of $10.15 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 0.79 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 released its earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.12. The firm had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The company'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. Research analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal 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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