Fortis Capital Advisors LLC Increases Position in Exelixis, Inc. $EXEL

Fortis Capital Advisors LLC grew its stake in Exelixis, Inc. (NASDAQ:EXEL) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,984 shares of the biotechnology company’s stock after acquiring an additional 497 shares during the quarter. Fortis Capital Advisors LLC’s holdings in Exelixis were worth $704,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hemington Wealth Management grew its stake in 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 buying an additional 522 shares during the last quarter. Byrne Asset Management LLC grew its stake in Exelixis by 129.0% during the 2nd quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after buying an additional 400 shares during the last quarter. Family Legacy Financial Solutions LLC purchased a new position in Exelixis during the 2nd quarter worth $33,000. Bartlett & CO. Wealth Management LLC purchased a new position in Exelixis during the 1st quarter worth $37,000. Finally, Costello Asset Management INC purchased a new position in Exelixis during the 1st quarter worth $39,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on EXEL shares. Truist Financial dropped their target price on Exelixis from $56.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Jefferies Financial Group set a $50.00 target price on Exelixis and gave the stock a “buy” rating in a research note on Tuesday, June 24th. Stifel Nicolaus boosted their target price on Exelixis from $38.00 to $41.00 and gave the stock a “hold” rating in a research note on Tuesday, July 29th. Zacks Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Finally, Benchmark reiterated a “neutral” rating on shares of Exelixis in a research note on Monday, June 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Exelixis has an average rating of “Moderate Buy” and a consensus target price of $44.42.

Exelixis Stock Down 3.0%

Shares of EXEL stock opened at $40.09 on Friday. The stock has a market cap of $10.79 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 0.85 and a beta of 0.38. The business has a 50-day simple moving average of $38.57 and a 200-day simple moving average of $39.85. Exelixis, Inc. has a 52-week low of $25.17 and a 52-week high of $49.62.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.12. The business had revenue of $568.26 million during the quarter, compared to analysts’ expectations of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The company’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share 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.