Sequoia Financial Advisors LLC Purchases New Position in Exelixis, Inc. $EXEL

Sequoia Financial Advisors LLC purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 6,805 shares of the biotechnology company’s stock, valued at approximately $300,000.

Several other large investors have also recently added to or reduced their stakes in EXEL. Hemington Wealth Management increased its holdings in Exelixis by 211.3% in the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 522 shares in the last quarter. Byrne Asset Management LLC increased its holdings in Exelixis by 129.0% in the 2nd quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 400 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in Exelixis in the 2nd quarter valued at $33,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Exelixis in the 1st quarter valued at $37,000. Finally, Costello Asset Management INC acquired a new stake in Exelixis in the 1st quarter valued at $39,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Stock Performance

Shares of EXEL stock opened at $36.08 on Thursday. Exelixis, Inc. has a one year low of $27.86 and a one year high of $49.62. The company’s 50-day simple moving average is $38.68 and its 200-day simple moving average is $39.99. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 0.72 and a beta of 0.38.

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

Analyst Ratings Changes

Several analysts have recently weighed in on EXEL shares. Leerink Partners upgraded Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research note on Tuesday. Wells Fargo & Company lowered their target price on Exelixis from $36.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday. JMP Securities restated a “market outperform” rating and set a $50.00 target price on shares of Exelixis in a research note on Tuesday, July 29th. Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research note on Wednesday, October 8th. Finally, Truist Financial lowered their target price on Exelixis from $56.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and a consensus price target of $44.53.

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.