Exelixis, Inc. $EXEL Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 10.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,601 shares of the biotechnology company’s stock after selling 410 shares during the quarter. Fifth Third Bancorp’s holdings in Exelixis were worth $159,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in EXEL. Hemington Wealth Management grew its holdings in shares of Exelixis by 211.3% during 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 during the last quarter. Byrne Asset Management LLC grew its holdings in shares of Exelixis by 129.0% during the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 400 shares during the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in shares of Exelixis during the second quarter valued at $33,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Exelixis during the first quarter valued at $37,000. Finally, Costello Asset Management INC purchased a new stake in shares of Exelixis during the first quarter valued at $39,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Down 0.2%

EXEL stock opened at $41.20 on Thursday. The company’s 50-day simple moving average is $38.75 and its 200-day simple moving average is $39.80. Exelixis, Inc. has a 52-week low of $25.17 and a 52-week high of $49.62. The firm has a market cap of $11.09 billion, a P/E ratio of 19.81, a PEG ratio of 0.85 and a beta of 0.38.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EXEL shares. William Blair reissued an “outperform” rating on shares of Exelixis in a report on Tuesday, July 29th. Benchmark reaffirmed a “neutral” rating on shares of Exelixis in a report on Monday, June 23rd. Bank of America upped their price target on shares of Exelixis from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, June 5th. Royal Bank Of Canada lowered their price target on shares of Exelixis from $50.00 to $45.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 29th. Finally, Stephens raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $29.00 to $60.00 in a report on Tuesday, June 24th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $44.42.

About Exelixis

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.