Modern Wealth Management LLC Purchases Shares of 6,797 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 purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,797 shares of the biotechnology company's stock, valued at approximately $251,000.

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

Analyst Ratings Changes

Several brokerages have recently commented on EXEL. Jefferies Financial Group set a $50.00 target price on Exelixis and gave the stock a "buy" rating in a research report on Tuesday, June 24th. 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. The Goldman Sachs Group assumed coverage on Exelixis in a report on Wednesday. They issued a "buy" rating and a $47.00 price target on the stock. William Blair reissued an "outperform" rating on shares of Exelixis in a report on Tuesday, July 29th. Finally, Wall Street Zen downgraded Exelixis from a "buy" rating to a "hold" rating in a report on Monday, September 15th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $44.42.

Exelixis Stock Performance

Shares of EXEL stock traded down $0.35 on Friday, reaching $40.10. 7,751,452 shares of the company's stock traded hands, compared to its average volume of 2,270,912. Exelixis, Inc. has a 12-month low of $25.17 and a 12-month high of $49.62. The company has a market capitalization of $10.79 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 0.83 and a beta of 0.32. The business's 50 day moving average price is $39.52 and its two-hundred day moving average price is $39.68.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the company posted $0.84 earnings per share. The business's quarterly revenue was down 10.8% compared to the same quarter last year. Exelixis has set its FY 2025 guidance at EPS. Research analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current 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.