Lecap Asset Management Ltd. Has $703,000 Stake in Exelixis, Inc. (NASDAQ:EXEL)

Lecap Asset Management Ltd. increased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 82.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,051 shares of the biotechnology company's stock after purchasing an additional 8,597 shares during the period. Lecap Asset Management Ltd.'s holdings in Exelixis were worth $703,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in EXEL. Raymond James Financial Inc. acquired a new stake in Exelixis in the 4th quarter valued at approximately $17,046,000. Proficio Capital Partners LLC bought a new position in shares of Exelixis during the 4th quarter worth approximately $706,000. Wells Fargo & Company MN raised its holdings in shares of Exelixis by 1,637.9% in the fourth quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company's stock valued at $24,851,000 after purchasing an additional 703,343 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Exelixis by 958.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,942 shares of the biotechnology company's stock worth $99,000 after purchasing an additional 2,664 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its holdings 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. Institutional investors and hedge funds own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EXEL. Royal Bank Of Canada restated an "outperform" rating and set a $40.00 price objective on shares of Exelixis in a research note on Wednesday, May 14th. Bank of America raised their price target on Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Wells Fargo & Company reaffirmed a "market outperform" rating on shares of Exelixis in a research report on Thursday, April 17th. Jefferies Financial Group set a $50.00 price objective on Exelixis and gave the company a "buy" rating in a report on Tuesday. Finally, Guggenheim set a $45.00 target price on shares of Exelixis and gave the company a "buy" rating in a research note on Thursday, May 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $43.22.

Exelixis Stock Performance

Shares of EXEL stock traded up $0.58 during trading on Friday, hitting $43.67. The company had a trading volume of 3,523,886 shares, compared to its average volume of 2,448,811. The firm has a market capitalization of $11.91 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 0.86 and a beta of 0.28. Exelixis, Inc. has a one year low of $21.82 and a one year high of $49.62. The stock's 50-day moving average price is $41.07 and its 200 day moving average price is $37.33.

Insider Activity at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 100,000 shares of Exelixis stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $46.00, for a total value of $4,600,000.00. Following the transaction, the chief financial officer now owns 967,842 shares in the company, valued at $44,520,732. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jack L. Wyszomierski sold 7,535 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total transaction of $324,683.15. Following the completion of the sale, the director now owns 358,882 shares in the company, valued at approximately $15,464,225.38. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 458,113 shares of company stock valued at $21,024,817 over the last three months. 2.82% of the stock is owned by 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.