Lecap Asset Management Ltd. Sells 9,654 Shares of Exelixis, Inc. $EXEL

Lecap Asset Management Ltd. lessened its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 50.7% during the second quarter, HoldingsChannel.com reports. The fund owned 9,397 shares of the biotechnology company’s stock after selling 9,654 shares during the period. Lecap Asset Management Ltd.’s holdings in Exelixis were worth $414,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Belpointe Asset Management LLC bought a new stake in shares of Exelixis during the first quarter worth about $572,000. GAMMA Investing LLC grew its holdings in shares of 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. Park Avenue Securities LLC grew its holdings in shares of 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. Envestnet Asset Management Inc. grew its holdings in shares of Exelixis by 23.9% during the first quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company’s stock worth $9,159,000 after purchasing an additional 47,845 shares during the last quarter. Finally, Fortis Capital Advisors LLC bought a new stake in shares of Exelixis during the first quarter worth about $572,000. 85.27% of the stock is currently owned by institutional investors.

Exelixis Stock Performance

Shares of EXEL opened at $40.09 on Friday. Exelixis, Inc. has a 52-week low of $25.17 and a 52-week high of $49.62. The business’s 50 day moving average price is $38.57 and its two-hundred day moving average price is $39.85. The firm has a market cap of $10.79 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 0.85 and a beta of 0.38.

Exelixis (NASDAQ:EXEL) last issued its quarterly 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. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The firm had revenue of $568.26 million for the quarter, compared to analyst estimates of $574.36 million. During the same period in the previous year, the firm earned $0.84 earnings per share. The company’s revenue was down 10.8% compared to the same quarter last year. Exelixis has set its FY 2025 guidance at EPS. Research analysts predict that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EXEL. Wall Street Zen upgraded Exelixis from a “hold” rating to a “buy” rating in a report on Friday. Zacks Research cut Exelixis from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. JMP Securities reiterated a “market outperform” rating and issued a $50.00 target price on shares of Exelixis in a report on Tuesday, July 29th. Morgan Stanley upped their target price on Exelixis from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, September 17th. Finally, UBS Group set a $38.00 target price on Exelixis and gave the company a “neutral” rating in a report on Wednesday, July 30th. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.42.

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.