Exelixis, Inc. $EXEL Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 2.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,986,035 shares of the biotechnology company’s stock after selling 57,995 shares during the quarter. Bank of New York Mellon Corp’s holdings in Exelixis were worth $85,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in EXEL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Exelixis by 81.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock valued at $1,592,000 after purchasing an additional 19,407 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Exelixis by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock valued at $54,153,000 after purchasing an additional 68,133 shares during the period. Focus Partners Wealth raised its stake in shares of Exelixis by 83.4% in the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock worth $1,420,000 after purchasing an additional 17,483 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Exelixis by 134.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 944 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Exelixis by 23.8% during the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock worth $633,000 after purchasing an additional 2,764 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Up 1.1%

Exelixis stock opened at $56.12 on Wednesday. The business’s 50-day moving average price is $52.89 and its 200 day moving average price is $46.97. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 1.60 and a beta of 0.42. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $57.57.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. During the same period in the previous year, the company posted $0.55 earnings per share. Exelixis’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts expect that Exelixis, Inc. will post 3.16 EPS for the current year.

Insider Activity

In related news, EVP Patrick J. Haley sold 32,110 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the sale, the executive vice president directly owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. This represents a 8.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Dana Aftab sold 43,451 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the sale, the executive vice president owned 594,741 shares in the company, valued at approximately $29,945,209.35. This represents a 6.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 219,170 shares of company stock worth $10,620,641. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EXEL shares. Royal Bank Of Canada upped their target price on Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Barclays raised their price target on shares of Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Wells Fargo & Company lifted their price objective on shares of Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, July 13th. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Morgan Stanley reiterated a “positive” rating on shares of Exelixis in a research note on Monday, June 22nd. Nine equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Exelixis has an average rating of “Hold” and a consensus target price of $48.80.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.