Modern Wealth Management LLC Acquires New Stake in Exelixis, Inc. $EXEL

Key Points

• Modern Wealth Management LLC has acquired a new stake in Exelixis, Inc., purchasing 6,797 shares valued at approximately $251,000.
• Exelixis reported earnings of $0.75 per share for the previous quarter, exceeding analysts' expectations, although revenue decreased by 10.8% compared to the same quarter last year.
• Analyst ratings for Exelixis show strong interest, with thirteen analysts giving a Buy rating and a consensus price target of $44.06.

Modern Wealth Management LLC acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,797 shares of the biotechnology company's stock, valued at approximately $251,000.

A number of other hedge funds also recently bought and sold shares of the company. Strs Ohio purchased a new stake in Exelixis during the first quarter valued at $2,267,000. Ellsworth Advisors LLC purchased a new stake in Exelixis during the first quarter valued at $3,589,000. Geneos Wealth Management Inc. increased its position in Exelixis by 134.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company's stock valued at $61,000 after acquiring an additional 944 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in Exelixis during the first quarter valued at $572,000. Finally, Fortis Capital Advisors LLC purchased a new stake in Exelixis in the first quarter worth about $572,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on EXEL. JMP Securities restated a "market outperform" rating and issued a $50.00 price target on shares of Exelixis in a research report on Tuesday, July 29th. 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 report on Tuesday, August 12th. UBS Group set a $38.00 price target on Exelixis and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Zacks Research cut Exelixis from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Finally, Jefferies Financial Group set a $50.00 price target on Exelixis and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Thirteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.06.

Exelixis Stock Down 0.4%

NASDAQ EXEL opened at $39.01 on Tuesday. The firm has a market cap of $10.50 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 0.81 and a beta of 0.32. The business has a 50-day moving average price of $39.87 and a 200-day moving average price of $39.66. Exelixis, Inc. has a twelve month low of $25.17 and a twelve month high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.12. The firm had revenue of $568.26 million during the quarter, compared to analyst estimates of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The business's quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. Research analysts expect 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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