Exelixis, Inc. $EXEL Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC reduced its stake in Exelixis, Inc. by 22.0%, now holding 29,457 shares valued at approximately $1.3 million following the sale of 8,321 shares in Q2.
• Exelixis recently reported earnings of $0.75 EPS for the last quarter, surpassing estimates but showing a year-over-year revenue decline of 10.8%.
• Analyst ratings are generally positive, with a consensus rating of "Moderate Buy" and a target price of $44.42 for Exelixis stock.

Janney Montgomery Scott LLC cut its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 22.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,457 shares of the biotechnology company's stock after selling 8,321 shares during the quarter. Janney Montgomery Scott LLC's holdings in Exelixis were worth $1,298,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fuller & Thaler Asset Management Inc. increased its stake in shares of Exelixis by 2.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,795,074 shares of the biotechnology company's stock worth $287,794,000 after acquiring an additional 164,134 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Exelixis by 73.8% during the 1st quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company's stock worth $250,869,000 after purchasing an additional 2,926,884 shares during the period. Invesco Ltd. grew its holdings in shares of Exelixis by 40.2% during the 1st quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company's stock worth $205,725,000 after purchasing an additional 1,596,948 shares during the period. Nuveen LLC purchased a new position in shares of Exelixis during the 1st quarter worth $123,310,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Exelixis by 2.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,321,407 shares of the biotechnology company's stock worth $122,626,000 after purchasing an additional 69,054 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Performance

EXEL opened at $38.15 on Monday. Exelixis, Inc. has a one year low of $25.76 and a one year high of $49.62. The business's fifty day moving average is $38.63 and its two-hundred day moving average is $39.95. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 0.76 and a beta of 0.38.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.12. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The business had revenue of $568.26 million for the quarter, compared to the consensus estimate of $574.36 million. During the same period in the prior year, the business earned $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. On average, analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EXEL has been the subject of a number of research analyst reports. Royal Bank Of Canada lowered their price target on Exelixis from $50.00 to $45.00 and set a "sector perform" rating for the company in a report on Tuesday, July 29th. Stephens upgraded Exelixis from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $29.00 to $60.00 in a report on Tuesday, June 24th. Jefferies Financial Group set a $50.00 target price on Exelixis and gave the company a "buy" rating in a report on Tuesday, June 24th. The Goldman Sachs Group started coverage on Exelixis in a report on Wednesday, September 17th. They set a "buy" rating and a $47.00 target price for the company. Finally, Wall Street Zen upgraded Exelixis from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Exelixis presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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