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

USA Financial Formulas lowered its position in Exelixis, Inc. (NASDAQ:EXEL) by 31.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hemington Wealth Management lifted its stake in 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 during the last quarter. Byrne Asset Management LLC lifted its stake in Exelixis by 129.0% in the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 400 shares during the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in Exelixis in the second quarter valued at approximately $33,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Exelixis during the first quarter worth approximately $37,000. Finally, Costello Asset Management INC purchased a new stake in shares of 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

Exelixis stock opened at $41.20 on Thursday. The firm 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 fifty-two week low of $25.17 and a fifty-two week high of $49.62. The stock’s fifty day moving average is $38.75 and its two-hundred day moving average is $39.80.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EXEL shares. Bank of America upped their price target on Exelixis from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, June 5th. Wall Street Zen cut Exelixis from a “buy” rating to a “hold” rating in a research note on Monday, September 15th. HC Wainwright cut their price target on Exelixis from $53.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Morgan Stanley upped their price target on Exelixis from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 17th. Finally, The Goldman Sachs Group started coverage on Exelixis in a research note on Wednesday, September 17th. They set a “buy” rating and a $47.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.