50,654 Shares in Exelixis, Inc. (NASDAQ:EXEL) Bought by Mezzasalma Advisors LLC

Mezzasalma Advisors LLC bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 50,654 shares of the biotechnology company’s stock, valued at approximately $1,870,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. grew its stake in Exelixis by 6.2% in the 1st quarter. QRG Capital Management Inc. now owns 62,564 shares of the biotechnology company’s stock valued at $2,310,000 after acquiring an additional 3,636 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Exelixis by 13.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 37,778 shares of the biotechnology company’s stock worth $1,395,000 after purchasing an additional 4,482 shares in the last quarter. RHS Financial LLC acquired a new position in shares of Exelixis during the 1st quarter worth approximately $435,000. Ritholtz Wealth Management purchased a new stake in Exelixis in the 1st quarter valued at approximately $740,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Exelixis by 64.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 110,036 shares of the biotechnology company’s stock valued at $4,063,000 after buying an additional 43,194 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on EXEL shares. Wells Fargo & Company reissued a “market outperform” rating on shares of Exelixis in a research report on Thursday, April 17th. Citigroup lifted their price objective on Exelixis from $45.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Bank of America boosted their target price on shares of Exelixis from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, June 5th. Morgan Stanley restated an “overweight” rating and issued a $47.00 target price (up from $40.00) on shares of Exelixis in a report on Wednesday, May 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $47.00 price target (up from $40.00) on shares of Exelixis in a report on Thursday, June 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.76.

Exelixis Stock Performance

EXEL opened at $41.35 on Wednesday. Exelixis, Inc. has a 1 year low of $21.36 and a 1 year high of $48.85. The company’s 50 day simple moving average is $39.97 and its 200 day simple moving average is $36.95. The stock has a market capitalization of $11.28 billion, a PE ratio of 18.80, a P/E/G ratio of 0.85 and a beta of 0.28.

Insiders Place Their Bets

In other Exelixis news, Director Jack L. Wyszomierski sold 7,535 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The stock was 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 directly owns 358,882 shares in the company, valued at $15,464,225.38. This represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Dana Aftab sold 1,508 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $39.00, for a total value of $58,812.00. Following the completion of the transaction, the executive vice president now owns 693,181 shares in the company, valued at approximately $27,034,059. This trade represents a 0.22% decrease in their ownership of the stock. 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 quarter. Company insiders own 2.85% of the company’s stock.

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.