FY2024 EPS Estimates for Exelixis Lifted by Leerink Partnrs

Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at Leerink Partnrs upped their FY2024 EPS estimates for Exelixis in a report issued on Wednesday, January 15th. Leerink Partnrs analyst A. Berens now anticipates that the biotechnology company will post earnings per share of $1.79 for the year, up from their prior estimate 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.

Exelixis (NASDAQ:EXEL) last posted 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 business 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 business’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 earnings per share.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Bank of America downgraded shares of Exelixis from a “buy” rating to a “neutral” rating and increased their price target for the stock from $35.00 to $39.00 in a research note on Tuesday, December 17th. Truist Financial boosted their price objective on shares of Exelixis from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus increased their target price on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Guggenheim boosted their price target on Exelixis from $33.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

Exelixis Trading Down 1.0 %

NASDAQ EXEL opened at $36.20 on Friday. The company has a market capitalization of $10.34 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 0.87 and a beta of 0.53. The business’s 50-day moving average price is $34.97 and its 200 day moving average price is $29.28. Exelixis has a twelve month low of $20.01 and a twelve month high of $37.59.

Insiders Place Their Bets

In related news, EVP Dana Aftab sold 1,162 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the transaction, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 314,736 shares of company stock worth $10,849,110 in the last 90 days. 2.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Exelixis

Institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC increased its stake in shares of Exelixis by 45.3% in the second quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock worth $2,031,000 after buying an additional 28,126 shares during the last quarter. Farallon Capital Management LLC grew its holdings in Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after acquiring an additional 424,000 shares in the last quarter. Seizert Capital Partners LLC increased its position in shares of Exelixis by 8.0% in the 3rd quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock worth $12,195,000 after purchasing an additional 34,875 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Exelixis by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after purchasing an additional 991,494 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Exelixis by 60.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock worth $1,424,000 after purchasing an additional 20,641 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

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.