USA Financial Formulas Decreases Stock Holdings in Exelixis, Inc. $EXEL

USA Financial Formulas trimmed its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 31.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,773 shares of the biotechnology company’s stock after selling 3,157 shares during the quarter. USA Financial Formulas’ holdings in Exelixis were worth $299,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Belpointe Asset Management LLC purchased a new stake in shares of Exelixis during the first quarter valued at about $572,000. GAMMA Investing LLC lifted its position in shares of Exelixis by 32.2% during the first quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company’s stock valued at $201,000 after buying an additional 1,328 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Exelixis by 10.6% during the first quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company’s stock valued at $272,000 after buying an additional 707 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Exelixis by 23.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company’s stock valued at $9,159,000 after purchasing an additional 47,845 shares during the last quarter. Finally, Fortis Capital Advisors LLC purchased a new position in shares of Exelixis in the 1st quarter valued at approximately $572,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Down 0.2%

Shares of EXEL opened at $41.20 on Thursday. The stock has a 50 day moving average price of $38.75 and a 200 day moving average price of $39.80. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 0.85 and a beta of 0.38. Exelixis, Inc. has a 52-week low of $25.17 and a 52-week high of $49.62.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. The firm had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on EXEL. Stifel Nicolaus increased their price objective on shares of Exelixis from $38.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday, July 29th. Stephens raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $29.00 to $60.00 in a research report on Tuesday, June 24th. The Goldman Sachs Group started coverage on shares of Exelixis in a research report on Wednesday, September 17th. They issued a “buy” rating and a $47.00 price objective for the company. Zacks Research cut shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Finally, Bank of America lifted their price target on shares of Exelixis from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, June 5th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.42.

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.