Exelixis, Inc. $EXEL Shares Sold by Polaris Capital Management LLC

Key Points

• Polaris Capital Management LLC reduced its stake in Exelixis, Inc. by 37.5%, selling 15,800 shares to hold 26,300 shares valued at approximately $1.16 million.
• Exelixis, Inc. recently reported $0.75 earnings per share, beating analysts' expectations, with quarterly revenue of $568.26 million but down 10.8% year-over-year.
• The stock has an average rating of "Moderate Buy" from analysts, with a consensus price target of $44.42.

Polaris Capital Management LLC trimmed its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 37.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,300 shares of the biotechnology company's stock after selling 15,800 shares during the period. Polaris Capital Management LLC's holdings in Exelixis were worth $1,159,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Byrne Asset Management LLC boosted 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 worth $31,000 after buying an additional 400 shares during the last quarter. Family Legacy Financial Solutions LLC purchased a new position in Exelixis in the 2nd quarter worth approximately $33,000. Hemington Wealth Management lifted its stake in Exelixis by 211.3% in the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 522 shares in the last quarter. Bartlett & CO. Wealth Management LLC purchased a new position in Exelixis in the 1st quarter worth approximately $37,000. Finally, Steph & Co. purchased a new position in Exelixis in the 2nd quarter worth approximately $44,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on EXEL shares. Barclays started coverage on shares of Exelixis in a research note on Wednesday, September 17th. They issued an "equal weight" rating and a $40.00 target price on the stock. Jefferies Financial Group set a $50.00 target price on shares of Exelixis and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Zacks Research lowered shares of Exelixis from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Benchmark reissued a "neutral" rating on shares of Exelixis in a research note on Monday, June 23rd. Finally, Stifel Nicolaus lifted their price target 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. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Exelixis has an average rating of "Moderate Buy" and a consensus price target of $44.42.

Exelixis Stock Down 3.0%

Shares of NASDAQ EXEL opened at $40.09 on Friday. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 19.27, a PEG 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. The business's 50 day moving average is $38.57 and its two-hundred day moving average is $39.85.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its 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 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 quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. Analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.