Fortis Capital Advisors LLC Raises Stock Holdings in Exelixis, Inc. $EXEL

Fortis Capital Advisors LLC boosted its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 3.2% during the second quarter, HoldingsChannel.com reports. The firm owned 15,984 shares of the biotechnology company’s stock after purchasing an additional 497 shares during the period. Fortis Capital Advisors LLC’s holdings in Exelixis were worth $704,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EXEL. Hemington Wealth Management boosted its position in Exelixis by 211.3% during the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 522 shares in the last quarter. Byrne Asset Management LLC boosted its position in Exelixis by 129.0% during the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 400 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new position in Exelixis during the second quarter worth approximately $33,000. Bartlett & CO. Wealth Management LLC purchased a new position in Exelixis during the first quarter worth approximately $37,000. Finally, Costello Asset Management INC purchased a new position in Exelixis during the first quarter worth approximately $39,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Stock Performance

NASDAQ:EXEL opened at $40.09 on Friday. Exelixis, Inc. has a one year low of $25.17 and a one year high of $49.62. The stock has a market cap of $10.79 billion, a PE ratio of 19.27, a P/E/G ratio of 0.85 and a beta of 0.38. The stock has a 50 day moving average price of $38.57 and a 200 day moving average price of $39.85.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $574.36 million. During the same quarter last year, the firm earned $0.84 earnings per share. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. Exelixis has set its FY 2025 guidance at EPS. As a group, analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Stephens upgraded Exelixis from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $29.00 to $60.00 in a research report on Tuesday, June 24th. Barclays initiated coverage on Exelixis in a report on Wednesday, September 17th. They set an “equal weight” rating and a $40.00 target price for the company. Morgan Stanley increased their target price on Exelixis from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, September 17th. UBS Group set a $38.00 target price on Exelixis and gave the company a “neutral” rating in a report on Wednesday, July 30th. Finally, HC Wainwright reduced their target price on Exelixis from $53.00 to $46.00 and set a “buy” rating for the company in a 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.42.

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.