Exelixis, Inc. $EXEL Stock Holdings Lessened by Woodline Partners LP

Key Points

• Woodline Partners LP has reduced its stake in Exelixis, Inc. by 17.9%, now owning approximately 816,693 shares valued at $30.15 million.
• Exelixis reported $0.75 EPS for the last quarter, surpassing analyst estimates of $0.63, though revenue of $568.26 million fell short of expectations.
• The stock currently holds a consensus rating of "Moderate Buy" from analysts, with a price target averaging $44.06.

Woodline Partners LP trimmed its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 17.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 816,693 shares of the biotechnology company's stock after selling 177,839 shares during the quarter. Woodline Partners LP owned approximately 0.30% of Exelixis worth $30,152,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. McIlrath & Eck LLC acquired a new stake in Exelixis during the 1st quarter worth $52,000. Empowered Funds LLC raised its stake in Exelixis by 35.2% during the 1st quarter. Empowered Funds LLC now owns 302,603 shares of the biotechnology company's stock worth $11,172,000 after acquiring an additional 78,724 shares in the last quarter. Caxton Associates LLP acquired a new stake in Exelixis during the 1st quarter worth $1,237,000. Fred Alger Management LLC raised its stake in Exelixis by 45.9% during the 1st quarter. Fred Alger Management LLC now owns 21,094 shares of the biotechnology company's stock worth $779,000 after acquiring an additional 6,641 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Exelixis by 4.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company's stock worth $54,153,000 after acquiring an additional 68,133 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXEL has been the topic of several research analyst reports. Guggenheim reiterated a "buy" rating and set a $45.00 price target on shares of Exelixis in a research note on Tuesday, July 29th. Truist Financial lowered their price objective on shares of Exelixis from $56.00 to $49.00 and set a "buy" rating on the stock in a research report on Tuesday, July 29th. Royal Bank Of Canada lowered their price objective on shares of Exelixis from $50.00 to $45.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 29th. Stifel Nicolaus raised their price objective on shares of Exelixis from $38.00 to $41.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Finally, Morgan Stanley lowered their price objective on shares of Exelixis from $48.00 to $46.00 and set an "overweight" rating on the stock 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, Exelixis has a consensus rating of "Moderate Buy" and an average target price of $44.06.

Exelixis Stock Up 0.2%

Shares of Exelixis stock traded up $0.08 during trading hours on Friday, hitting $39.15. The company's stock had a trading volume of 2,475,619 shares, compared to its average volume of 2,200,644. Exelixis, Inc. has a 1-year low of $25.17 and a 1-year high of $49.62. The business has a fifty day moving average of $39.97 and a 200 day moving average of $39.64. The company has a market capitalization of $10.54 billion, a PE ratio of 18.82, a P/E/G ratio of 0.81 and a beta of 0.32.

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 (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.12. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The company had revenue of $568.26 million during the quarter, compared to analyst estimates of $574.36 million. During the same quarter in the prior year, the business earned $0.84 earnings per share. The business's quarterly revenue was down 10.8% compared to the same quarter last year. Exelixis has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

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.