Kestra Investment Management LLC Increases Position in Exelixis, Inc. $EXEL

Key Points

• Kestra Investment Management LLC significantly increased its position in Exelixis, Inc., boosting its holdings by 1,639.0% during the first quarter, now owning 20,155 shares valued at $744,000.
• Exelixis reported $0.75 earnings per share for the latest quarter, surpassing analysts' expectations of $0.63, though its revenue declined 10.8% year-over-year to $568.26 million.
• Thirteen analysts rated Exelixis' stock as a Buy, with an average price target of $44.06, indicating a generally positive outlook despite some price target reductions by other firms.

Kestra Investment Management LLC increased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 1,639.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 20,155 shares of the biotechnology company's stock after acquiring an additional 18,996 shares during the period. Kestra Investment Management LLC's holdings in Exelixis were worth $744,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hemington Wealth Management lifted 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 last quarter. Colonial Trust Co SC lifted its stake in shares of Exelixis by 616.9% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after acquiring an additional 765 shares during the last quarter. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Exelixis during the 1st quarter worth approximately $37,000. Costello Asset Management INC bought a new stake in shares of Exelixis during the 1st quarter worth approximately $39,000. Finally, Harbour Investments Inc. raised its position in Exelixis by 900.0% during the 1st quarter. Harbour Investments Inc. now owns 1,100 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 990 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis Trading Down 1.5%

Shares of EXEL traded down $0.58 during trading hours on Wednesday, hitting $37.70. The company had a trading volume of 2,550,606 shares, compared to its average volume of 2,178,091. The company has a market capitalization of $10.15 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 0.79 and a beta of 0.32. Exelixis, Inc. has a one year low of $25.17 and a one year high of $49.62. The company's fifty day moving average price is $40.25 and its two-hundred day moving average price is $39.60.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results 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 return on equity of 27.47% and a net margin of 27.01%.The firm had revenue of $568.26 million for the quarter, compared to the consensus estimate of $574.36 million. During the same period in the previous year, the business earned $0.84 EPS. The firm's revenue for the quarter was down 10.8% on a year-over-year basis. Exelixis has set its FY 2025 guidance at EPS. Analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. 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. Royal Bank Of Canada decreased their target price on Exelixis from $50.00 to $45.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 29th. William Blair reaffirmed an "outperform" rating on shares of Exelixis in a research report on Tuesday, July 29th. Zacks Research lowered Exelixis from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Finally, Truist Financial decreased their target price on Exelixis from $56.00 to $49.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $44.06.

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.