New York Life Investment Management LLC Decreases Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

New York Life Investment Management LLC cut its stake in Exelixis, Inc. (NASDAQ:EXEL) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,563 shares of the biotechnology company’s stock after selling 1,383 shares during the period. New York Life Investment Management LLC’s holdings in Exelixis were worth $853,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Contravisory Investment Management Inc. bought a new position in shares of Exelixis in the fourth quarter worth about $26,000. GAMMA Investing LLC purchased a new stake in Exelixis in the fourth quarter worth about $27,000. Fifth Third Bancorp lifted its stake in Exelixis by 44.2% in the third quarter. Fifth Third Bancorp now owns 1,970 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 604 shares during the period. Headlands Technologies LLC purchased a new stake in Exelixis in the third quarter worth about $100,000. Finally, Signaturefd LLC lifted its stake in Exelixis by 17.1% in the third quarter. Signaturefd LLC now owns 4,577 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 668 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Insider Activity at Exelixis

In related news, Director David Edward Johnson acquired 190,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the transaction, the director now directly owns 1,100,730 shares of the company’s stock, valued at approximately $22,785,111. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Exelixis news, Director David Edward Johnson purchased 190,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were bought at an average price of $20.70 per share, for a total transaction of $3,933,000.00. Following the acquisition, the director now owns 1,100,730 shares in the company, valued at $22,785,111. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Haley sold 47,020 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the completion of the transaction, the executive vice president now owns 384,866 shares in the company, valued at approximately $8,255,375.70. The disclosure for this sale can be found here. 2.85% of the stock is currently owned by insiders.

Exelixis Stock Down 2.5 %

Shares of Exelixis stock opened at $21.59 on Thursday. The firm has a market capitalization of $6.29 billion, a P/E ratio of 33.73, a PEG ratio of 0.59 and a beta of 0.57. The company has a 50 day moving average price of $22.98 and a 200 day moving average price of $22.24. Exelixis, Inc. has a 52 week low of $18.52 and a 52 week high of $24.34.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.16). The company had revenue of $425.23 million during the quarter, compared to analysts’ expectations of $461.04 million. Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 earnings per share. As a group, research analysts anticipate that Exelixis, Inc. will post 1.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

EXEL has been the subject of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research note on Wednesday, April 10th. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research note on Wednesday, May 1st. TD Cowen upped their price objective on shares of Exelixis from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Exelixis in a research note on Friday, May 3rd. Finally, Barclays lowered shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.33.

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.