Exelixis, Inc. $EXEL Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC reduced its stake in Exelixis, Inc. by 93.6% during the 1st quarter, leaving them with only 961 shares valued at $35,000.
• Having recently reported earnings, Exelixis announced a $0.75 EPS for the quarter, surpassing analyst estimates but showing a 10.8% decline in revenue year-over-year.
• Thirteen analysts have rated Exelixis as a "Buy," while the consensus target price stands at $44.06, reflecting a positive outlook for the stock.

AlphaQuest LLC reduced its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 93.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 961 shares of the biotechnology company's stock after selling 14,154 shares during the quarter. AlphaQuest LLC's holdings in Exelixis were worth $35,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EXEL. Hemington Wealth Management increased its position 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. Colonial Trust Co SC increased its position in shares of Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after buying an additional 765 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. Finally, Harbour Investments Inc. increased its position 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. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on EXEL. JMP Securities restated a "market outperform" rating and issued a $50.00 price objective on shares of Exelixis in a research report on Tuesday, July 29th. Morgan Stanley cut their price objective on Exelixis from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Tuesday, July 29th. Citigroup boosted their price objective on Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Benchmark reiterated a "neutral" rating on shares of Exelixis in a research report on Monday, June 23rd. Finally, Stifel Nicolaus boosted their price target on Exelixis from $38.00 to $41.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Exelixis currently has a consensus rating of "Moderate Buy" and an average price target of $44.06.

Exelixis Trading Up 1.3%

NASDAQ EXEL traded up $0.50 on Friday, reaching $37.88. 2,524,501 shares of the company were exchanged, compared to its average volume of 2,282,692. The business's fifty day moving average price is $40.61 and its 200 day moving average price is $39.58. The stock has a market capitalization of $10.20 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 0.78 and a beta of 0.32. Exelixis, Inc. has a fifty-two week low of $25.12 and a fifty-two week high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data 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 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%.The firm's revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. Equities research analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current year.

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.