Prasad Wealth Partners LLC Has $441,000 Holdings in Exelixis, Inc. $EXEL

Prasad Wealth Partners LLC decreased its position in Exelixis, Inc. (NASDAQ:EXEL) by 37.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the biotechnology company’s stock after selling 6,000 shares during the quarter. Prasad Wealth Partners LLC’s holdings in Exelixis were worth $441,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hemington Wealth Management raised its stake in shares of Exelixis by 211.3% in the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 522 shares during the period. Byrne Asset Management LLC grew its holdings 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 valued at $31,000 after acquiring an additional 400 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new position in shares of Exelixis in the 2nd quarter valued at about $33,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of Exelixis in the 1st quarter valued at about $37,000. Finally, Costello Asset Management INC bought a new position in shares of Exelixis in the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Stock Down 0.2%

Shares of NASDAQ:EXEL opened at $40.01 on Tuesday. Exelixis, Inc. has a 12-month low of $25.17 and a 12-month high of $49.62. The stock has a market cap of $10.77 billion, a PE ratio of 19.24, a P/E/G ratio of 0.83 and a beta of 0.38. The business has a 50 day moving average of $38.48 and a 200-day moving average of $39.91.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The company had revenue of $568.26 million during the quarter, compared to analysts’ expectations of $574.36 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The business’s revenue was down 10.8% on a year-over-year basis. Exelixis has set its FY 2025 guidance at EPS. Equities research analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EXEL shares. Benchmark restated a “neutral” rating on shares of Exelixis in a report on Monday, June 23rd. Stifel Nicolaus raised their price objective on Exelixis from $38.00 to $41.00 and gave the company a “hold” rating in a report on Tuesday, July 29th. 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. Wall Street Zen upgraded Exelixis from a “hold” rating to a “buy” rating in a report on Friday. Finally, Zacks Research cut Exelixis from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.42.

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.