IFP Advisors Inc Purchases 6,812 Shares of Exelixis, Inc. $EXEL

IFP Advisors Inc lifted its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 20.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,049 shares of the biotechnology company's stock after buying an additional 6,812 shares during the quarter. IFP Advisors Inc's holdings in Exelixis were worth $1,765,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EXEL. Hemington Wealth Management grew its stake in shares of Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock valued at $28,000 after buying an additional 522 shares in the last quarter. Byrne Asset Management LLC grew its stake in shares of 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 in the last quarter. Family Legacy Financial Solutions LLC bought a new position in shares of Exelixis in the second quarter valued at $33,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of Exelixis in the first quarter valued at $37,000. Finally, Costello Asset Management INC bought a new position in shares of Exelixis in the first quarter valued at $39,000. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Down 1.1%

Shares of Exelixis stock opened at $38.15 on Friday. Exelixis, Inc. has a twelve month low of $25.76 and a twelve month high of $49.62. The company has a 50-day simple moving average of $38.63 and a two-hundred day simple moving average of $39.93. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 0.79 and a beta of 0.38.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, topping 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 business had revenue of $568.26 million during the quarter, compared to analysts' expectations of $574.36 million. During the same quarter in the previous year, the company earned $0.84 EPS. The business's revenue was down 10.8% on a year-over-year basis. Exelixis has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EXEL has been the subject of several analyst reports. Wall Street Zen raised shares of Exelixis from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. William Blair reaffirmed an "outperform" rating on shares of Exelixis in a research report on Tuesday, July 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Exelixis in a research report on Wednesday. JMP Securities reaffirmed a "market outperform" rating and set a $50.00 price objective on shares of Exelixis in a research report on Tuesday, July 29th. Finally, 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. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Exelixis currently 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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