Lazard Asset Management LLC Has $7.14 Million Stake in Exelixis, Inc. (NASDAQ:EXEL)

Lazard Asset Management LLC increased its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 80.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 214,462 shares of the biotechnology company's stock after acquiring an additional 95,315 shares during the period. Lazard Asset Management LLC owned approximately 0.08% of Exelixis worth $7,140,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Coppell Advisory Solutions LLC bought a new stake in shares of Exelixis during the fourth quarter valued at approximately $25,000. Colonial Trust Co SC increased its position in Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 765 shares during the period. USA Financial Formulas bought a new stake in Exelixis during the 4th quarter valued at $32,000. Principal Securities Inc. boosted its position in Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 373 shares during the period. Finally, Kestra Investment Management LLC bought a new position in shares of Exelixis in the fourth quarter worth $39,000. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EXEL has been the subject of a number of recent analyst reports. Citigroup increased their target price on shares of Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday. Wells Fargo & Company reiterated a "market outperform" rating on shares of Exelixis in a report on Thursday, April 17th. UBS Group reiterated an "underperform" rating on shares of Exelixis in a research note on Thursday, April 17th. Stifel Nicolaus upped their target price on Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating in a research report on Wednesday. Finally, HC Wainwright reiterated a "buy" rating and set a $40.00 price target on shares of Exelixis in a research report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Exelixis has an average rating of "Moderate Buy" and an average price target of $38.76.

Exelixis Stock Down 1.9%

Shares of NASDAQ EXEL traded down $0.86 during mid-day trading on Friday, hitting $45.40. 5,538,335 shares of the company traded hands, compared to its average volume of 2,272,982. Exelixis, Inc. has a 1 year low of $20.14 and a 1 year high of $48.85. The stock has a market capitalization of $12.51 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.13 and a beta of 0.25. The business has a 50 day moving average of $37.23 and a two-hundred day moving average of $35.82.

Insiders Place Their Bets

In related news, CFO Christopher J. Senner sold 29,314 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $36.14, for a total value of $1,059,407.96. Following the completion of the transaction, the chief financial officer now owns 779,607 shares of the company's stock, valued at approximately $28,174,996.98. This trade represents a 3.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 126,383 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $47.96, for a total transaction of $6,061,328.68. Following the sale, the executive vice president now directly owns 446,459 shares in the company, valued at approximately $21,412,173.64. This trade represents a 22.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 520,942 shares of company stock worth $22,930,002. Company insiders own 2.82% of the company's stock.

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.