Envestnet Asset Management Inc. Boosts Position in Exelixis, Inc. (NASDAQ:EXEL)

Envestnet Asset Management Inc. increased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 23.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 248,073 shares of the biotechnology company's stock after purchasing an additional 47,845 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.09% of Exelixis worth $9,159,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Exelixis by 32.2% during the first quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company's stock worth $201,000 after purchasing an additional 1,328 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Exelixis during the fourth quarter worth approximately $17,046,000. Wells Fargo & Company MN lifted its stake in Exelixis by 1,637.9% during the fourth quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company's stock worth $24,851,000 after purchasing an additional 703,343 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Exelixis by 10.6% during the first quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company's stock worth $272,000 after purchasing an additional 707 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in Exelixis during the first quarter worth approximately $233,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Activity

In related news, EVP Jeffrey Hessekiel sold 25,000 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $46.18, for a total transaction of $1,154,500.00. Following the transaction, the executive vice president owned 693,396 shares of the company's stock, valued at $32,021,027.28. This represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Amy C. Peterson sold 72,776 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $45.47, for a total value of $3,309,124.72. Following the transaction, the chief marketing officer directly owned 465,393 shares in the company, valued at $21,161,419.71. This represents a 13.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 458,113 shares of company stock valued at $21,024,817 over the last three months. 2.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Benchmark restated a "neutral" rating on shares of Exelixis in a research note on Monday, June 23rd. Citigroup lifted their price target on Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. HC Wainwright lifted their price target on Exelixis from $47.00 to $53.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Barclays lifted their price target on Exelixis from $29.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Finally, JMP Securities lifted their price target on Exelixis from $47.00 to $50.00 and gave the stock a "market outperform" rating in a research report on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Exelixis currently has an average rating of "Moderate Buy" and an average price target of $45.33.

Exelixis Price Performance

Shares of NASDAQ:EXEL traded up $0.25 during trading on Friday, reaching $45.04. The company had a trading volume of 353,974 shares, compared to its average volume of 2,905,951. The firm has a market capitalization of $12.28 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 0.91 and a beta of 0.28. The stock's fifty day moving average price is $43.46 and its 200 day moving average price is $38.71. Exelixis, Inc. has a fifty-two week low of $22.80 and a fifty-two week high of $49.62.

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.