FY2024 EPS Estimates for Exelixis Lifted by Zacks Research

Exelixis, Inc. (NASDAQ:EXEL) – Zacks Research raised their FY2024 EPS estimates for Exelixis in a report issued on Tuesday, November 19th. Zacks Research analyst E. Bagri now anticipates that the biotechnology company will post earnings per share of $1.67 for the year, up from their prior forecast of $1.52. The consensus estimate for Exelixis’ current full-year earnings is $1.69 per share. Zacks Research also issued estimates for Exelixis’ Q4 2024 earnings at $0.36 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.46 EPS, FY2025 earnings at $1.56 EPS, Q1 2026 earnings at $0.45 EPS, Q2 2026 earnings at $0.50 EPS, Q3 2026 earnings at $0.51 EPS and FY2026 earnings at $2.17 EPS.

Several other equities research analysts also recently issued reports on EXEL. Bank of America boosted their price objective on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Stifel Nicolaus increased their price target on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Piper Sandler boosted their price objective on Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their target price on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Finally, HC Wainwright reissued a “buy” rating and set a $29.00 price target on shares of Exelixis in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $35.61 on Friday. The stock has a 50-day simple moving average of $29.90 and a 200-day simple moving average of $25.60. The stock has a market capitalization of $10.17 billion, a P/E ratio of 22.83, a PEG ratio of 0.88 and a beta of 0.51. Exelixis has a 1 year low of $19.20 and a 1 year high of $36.60.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share.

Institutional Trading of Exelixis

Large investors have recently added to or reduced their stakes in the business. Tri Ri Asset Management Corp acquired a new stake in shares of Exelixis in the third quarter worth about $4,335,000. TD Private Client Wealth LLC lifted its holdings in Exelixis by 376.8% in the 3rd quarter. TD Private Client Wealth LLC now owns 9,756 shares of the biotechnology company’s stock worth $253,000 after purchasing an additional 7,710 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Exelixis in the 3rd quarter worth approximately $264,000. Coldstream Capital Management Inc. acquired a new position in Exelixis during the third quarter valued at approximately $238,000. Finally, Vestcor Inc raised its position in shares of Exelixis by 1.2% in the third quarter. Vestcor Inc now owns 59,789 shares of the biotechnology company’s stock valued at $1,552,000 after purchasing an additional 722 shares during the period. 85.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares in the company, valued at $15,666,873. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $25.79, for a total value of $515,800.00. Following the completion of the transaction, the executive vice president now owns 630,325 shares in the company, valued at $16,256,081.75. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 289,736 shares of company stock worth $9,471,510 over the last ninety days. 2.85% of the stock is currently owned by company insiders.

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.