New York Life Investment Management LLC Has $853,000 Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

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

A number of other hedge funds have also recently made changes to their positions in EXEL. Charles Schwab Investment Management Inc. boosted its holdings in Exelixis by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,335,640 shares of the biotechnology company’s stock worth $72,884,000 after purchasing an additional 58,320 shares during the last quarter. FMR LLC boosted its holdings in Exelixis by 9.3% during the third quarter. FMR LLC now owns 2,884,424 shares of the biotechnology company’s stock worth $63,025,000 after purchasing an additional 246,605 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Exelixis by 10.7% during the third quarter. Ameriprise Financial Inc. now owns 2,266,932 shares of the biotechnology company’s stock worth $49,489,000 after purchasing an additional 218,757 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Exelixis by 6.0% during the third quarter. AQR Capital Management LLC now owns 2,015,838 shares of the biotechnology company’s stock worth $44,046,000 after purchasing an additional 114,267 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Exelixis by 11.5% during the fourth quarter. California Public Employees Retirement System now owns 1,974,291 shares of the biotechnology company’s stock worth $47,363,000 after purchasing an additional 203,163 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Price Performance

EXEL stock opened at $21.59 on Thursday. Exelixis, Inc. has a one year low of $18.52 and a one year high of $24.34. The stock has a market cap of $6.29 billion, a PE ratio of 33.73, a P/E/G ratio of 0.59 and a beta of 0.57. The firm has a 50 day simple moving average of $22.98 and a two-hundred day simple moving average of $22.24.

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

Analysts Set New Price Targets

EXEL has been the topic of several analyst reports. Royal Bank of Canada boosted their price target on shares of Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Stifel Nicolaus lifted their price objective on shares of Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. TD Cowen lifted their price objective on shares of Exelixis from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. TheStreet raised shares of Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, March 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research report on Wednesday, April 10th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Exelixis currently has an average rating of “Moderate Buy” and an average price target of $26.33.

Insider Activity

In related news, Director Alan M. Garber sold 19,205 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total transaction of $461,112.05. Following the completion of the sale, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the transaction, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Haley sold 47,020 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 384,866 shares of the company’s stock, valued at $8,255,375.70. The disclosure for this sale can be found here. 2.85% of the stock is owned by corporate insiders.

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.