United Services Automobile Association Decreases Stake in Exelixis, Inc. $EXEL

United Services Automobile Association cut its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 2.2% during the first quarter, Holdings Channel reports. The institutional investor owned 18,087 shares of the biotechnology company’s stock after selling 413 shares during the quarter. United Services Automobile Association’s holdings in Exelixis were worth $664,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Hemington Wealth Management boosted its stake in shares of Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 522 shares in the last quarter. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Exelixis in the first quarter valued at approximately $37,000. Costello Asset Management INC purchased a new stake in shares of Exelixis in the first quarter valued at approximately $39,000. Harbour Investments Inc. boosted its stake in shares of Exelixis by 900.0% in the first quarter. Harbour Investments Inc. now owns 1,100 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 990 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Exelixis by 4,900.0% in the first quarter. Quarry LP now owns 2,000 shares of the biotechnology company’s stock valued at $74,000 after buying an additional 1,960 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Up 1.6%

NASDAQ EXEL opened at $38.28 on Wednesday. Exelixis, Inc. has a fifty-two week low of $25.17 and a fifty-two week high of $49.62. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 0.78 and a beta of 0.32. The business has a fifty day moving average of $40.38 and a 200-day moving average of $39.61.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. The company 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 business’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on EXEL shares. HC Wainwright decreased their target price on Exelixis from $53.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Truist Financial decreased their target price on Exelixis from $56.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, July 29th. Bank of America boosted their target price on Exelixis from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, June 5th. Wall Street Zen upgraded Exelixis from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Benchmark reiterated a “neutral” rating on shares of Exelixis in a research report on Monday, June 23rd. Thirteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.06.

Exelixis Company 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.