FY2024 EPS Estimates for Exelixis Increased by Analyst

Exelixis, Inc. (NASDAQ:EXEL) – Investment analysts at Leerink Partnrs increased their FY2024 earnings estimates for Exelixis in a research note issued to investors on Wednesday, January 15th. Leerink Partnrs analyst A. Berens now expects that the biotechnology company will post earnings of $1.79 per share for the year, up from their prior forecast of $1.49. The consensus estimate for Exelixis’ current full-year earnings is $1.70 per share. Leerink Partnrs also issued estimates for Exelixis’ Q4 2024 earnings at $0.50 EPS and FY2025 earnings at $2.15 EPS.

Several other research firms also recently commented on EXEL. JMP Securities upped their price target on shares of Exelixis from $34.00 to $41.00 and gave the company a “market outperform” rating in a research note on Wednesday. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Morgan Stanley raised their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a report on Wednesday, October 30th. Finally, TD Cowen lifted their price objective on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

Exelixis Price Performance

EXEL stock opened at $36.55 on Friday. Exelixis has a fifty-two week low of $20.01 and a fifty-two week high of $37.59. The stock has a market capitalization of $10.44 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 0.87 and a beta of 0.53. The business’s fifty day moving average price is $34.97 and its two-hundred day moving average price is $29.19.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share.

Insider Activity at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $28.39, for a total value of $709,750.00. Following the completion of the transaction, the executive vice president now owns 580,325 shares of the company’s stock, valued at $16,475,426.75. This represents a 4.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George Poste sold 30,000 shares of Exelixis stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the sale, the director now directly owns 169,020 shares in the company, valued at $5,746,680. The trade was a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 314,736 shares of company stock valued at $10,849,110 in the last quarter. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EXEL. Los Angeles Capital Management LLC grew its holdings in Exelixis by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after acquiring an additional 991,494 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Exelixis during the third quarter worth $14,979,000. Farallon Capital Management LLC grew its stake in shares of Exelixis by 1.6% in the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after purchasing an additional 424,000 shares during the last quarter. AQR Capital Management LLC increased its holdings in Exelixis by 12.7% in the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after purchasing an additional 370,199 shares during the period. Finally, Burney Co. bought a new position in Exelixis during the 4th quarter worth $12,267,000. Institutional investors and hedge funds own 85.27% 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.