Bank of New York Mellon Corp Trims Stock Position in Exelixis, Inc. $EXEL

Bank of New York Mellon Corp lessened its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,400,689 shares of the biotechnology company’s stock after selling 76,168 shares during the period. Bank of New York Mellon Corp owned approximately 0.89% of Exelixis worth $105,810,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Byrne Asset Management LLC raised its position in Exelixis by 129.0% in the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 400 shares during the period. Family Legacy Financial Solutions LLC purchased a new position in shares of Exelixis during the second quarter worth $33,000. Hemington Wealth Management grew its stake in shares of Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 522 shares in the last quarter. Steph & Co. purchased a new stake in shares of Exelixis in the 2nd quarter valued at $44,000. Finally, Costello Asset Management INC purchased a new stake in shares of Exelixis in the 1st quarter valued at $39,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Trading Up 0.0%

EXEL stock opened at $40.81 on Friday. The company has a market capitalization of $10.99 billion, a P/E ratio of 19.62, a PEG ratio of 0.79 and a beta of 0.32. The business has a 50 day simple moving average of $38.97 and a 200-day simple moving average of $40.35. Exelixis, Inc. has a twelve month low of $31.90 and a twelve month high of $49.62.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. The firm had revenue of $597.76 million for the quarter, compared to analyst estimates of $590.04 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $0.47 earnings per share. Exelixis has set its FY 2025 guidance at EPS. Research analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Exelixis from $36.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Royal Bank Of Canada reissued a “sector perform” rating and set a $45.00 target price on shares of Exelixis in a research note on Tuesday, October 21st. Zacks Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Oppenheimer reiterated a “market perform” rating and issued a $36.00 price objective on shares of Exelixis in a research note on Wednesday. Finally, TD Cowen boosted their price objective on Exelixis from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.45.

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.