Meritage Portfolio Management Has $16.65 Million Stock Holdings in Exelixis, Inc. $EXEL

Meritage Portfolio Management trimmed its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 377,727 shares of the biotechnology company’s stock after selling 21,511 shares during the quarter. Exelixis comprises about 1.1% of Meritage Portfolio Management’s portfolio, making the stock its 18th biggest position. Meritage Portfolio Management owned approximately 0.14% of Exelixis worth $16,648,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXEL. Hemington Wealth Management lifted its stake in shares of Exelixis by 211.3% in the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 522 shares during the period. Byrne Asset Management LLC raised its stake in Exelixis by 129.0% during the 2nd quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after buying an additional 400 shares during the period. Family Legacy Financial Solutions LLC acquired a new position in Exelixis during the 2nd quarter worth approximately $33,000. Bartlett & CO. Wealth Management LLC acquired a new position in Exelixis during the 1st quarter worth approximately $37,000. Finally, Costello Asset Management INC acquired a new position in Exelixis during the 1st quarter worth approximately $39,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXEL has been the topic of a number of research reports. Guggenheim reaffirmed a “buy” rating and set a $45.00 price target on shares of Exelixis in a research note on Tuesday, July 29th. The Goldman Sachs Group initiated coverage on Exelixis in a research note on Wednesday, September 17th. They set a “buy” rating and a $47.00 price target on the stock. Benchmark reaffirmed a “neutral” rating on shares of Exelixis in a research note on Monday, June 23rd. Barclays initiated coverage on Exelixis in a research note on Wednesday, September 17th. They set an “equal weight” rating and a $40.00 price target on the stock. Finally, Jefferies Financial Group set a $50.00 price target on Exelixis and gave the stock a “buy” rating in a research note on Tuesday, June 24th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.42.

Exelixis Stock Down 1.1%

Shares of NASDAQ:EXEL opened at $38.15 on Friday. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 0.79 and a beta of 0.38. Exelixis, Inc. has a 12-month low of $25.76 and a 12-month high of $49.62. The business’s 50 day moving average is $38.63 and its 200 day moving average is $39.93.

Exelixis (NASDAQ:EXEL) last announced its earnings results 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. The company had revenue of $568.26 million for the quarter, compared to analysts’ expectations of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.Exelixis’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current year.

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.