State of Alaska Department of Revenue Sells 2,200 Shares of Exelixis, Inc. $EXEL

State of Alaska Department of Revenue lowered its position in Exelixis, Inc. (NASDAQ:EXEL) by 6.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 30,596 shares of the biotechnology company’s stock after selling 2,200 shares during the period. State of Alaska Department of Revenue’s holdings in Exelixis were worth $1,348,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hemington Wealth Management lifted its position in shares of 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 during the period. Byrne Asset Management LLC lifted its position in shares of 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 purchasing an additional 400 shares during the period. Family Legacy Financial Solutions LLC acquired a new position in shares of Exelixis in the 2nd quarter worth approximately $33,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Exelixis in the 1st quarter worth approximately $37,000. Finally, Costello Asset Management INC acquired a new position in shares of Exelixis in the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Morgan Stanley boosted their target price on shares of Exelixis from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, September 17th. HC Wainwright dropped their target price on shares of Exelixis from $53.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. The Goldman Sachs Group assumed coverage on shares of Exelixis in a research report on Wednesday, September 17th. They set a “buy” rating and a $47.00 target price on the stock. Finally, Guggenheim reiterated a “buy” rating and set a $45.00 target price on shares of Exelixis in a research report on Tuesday, July 29th. Fifteen investment 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.42.

Exelixis Stock Down 3.0%

NASDAQ EXEL opened at $40.09 on Friday. The company has a market cap of $10.79 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 0.83 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 firm’s 50-day simple moving average is $38.57 and its two-hundred day simple moving average is $39.87.

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