Woodline Partners LP Sells 177,839 Shares of Exelixis, Inc. $EXEL

Woodline Partners LP reduced its position in Exelixis, Inc. (NASDAQ:EXEL) by 17.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 816,693 shares of the biotechnology company’s stock after selling 177,839 shares during the period. Woodline Partners LP’s holdings in Exelixis were worth $30,152,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Hemington Wealth Management raised its holdings 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 acquiring an additional 522 shares during the last quarter. Bartlett & CO. Wealth Management LLC purchased a new position in Exelixis in the 1st quarter worth approximately $37,000. Costello Asset Management INC purchased a new position in Exelixis in the 1st quarter worth approximately $39,000. Harbour Investments Inc. raised its holdings in Exelixis by 900.0% in the 1st quarter. Harbour Investments Inc. now owns 1,100 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 990 shares during the last quarter. Finally, McIlrath & Eck LLC purchased a new position in Exelixis in the 1st quarter worth approximately $52,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Price Performance

NASDAQ:EXEL opened at $38.28 on Wednesday. The firm has a market capitalization 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. Exelixis, Inc. has a one year low of $25.17 and a one year high of $49.62. The business has a fifty day moving average price of $40.38 and a 200-day moving average price of $39.61.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.63 by $0.12. The firm had revenue of $568.26 million during 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on EXEL. JMP Securities restated a “market outperform” rating and issued a $50.00 price objective on shares of Exelixis in a report on Tuesday, July 29th. Jefferies Financial Group set a $50.00 price objective on shares of Exelixis and gave the stock a “buy” rating in a report on Tuesday, June 24th. Citigroup boosted their price objective on shares of Exelixis from $45.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Truist Financial decreased their price objective on shares of Exelixis from $56.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. Finally, HC Wainwright decreased their target price on shares of Exelixis from $53.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.06.

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.