What is Leerink Partnrs’ Forecast for Exelixis Q4 Earnings?

Exelixis, Inc. (NASDAQ:EXEL) – Stock analysts at Leerink Partnrs cut their Q4 2024 earnings estimates for shares of Exelixis in a report released on Monday, October 28th. Leerink Partnrs analyst A. Berens now forecasts that the biotechnology company will post earnings of $0.35 per share for the quarter, down from their previous forecast of $0.36. The consensus estimate for Exelixis’ current full-year earnings is $1.58 per share.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The firm had revenue of $637.18 million for the quarter, compared to the consensus estimate of $468.21 million.

EXEL has been the subject of several other reports. Stifel Nicolaus raised their price objective on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Oppenheimer reissued an “outperform” rating and set a $29.00 price target on shares of Exelixis in a report on Tuesday, July 30th. Truist Financial restated a “buy” rating and issued a $33.00 price target (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. UBS Group assumed coverage on Exelixis in a research report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price objective on the stock. Finally, Bank of America lifted their price target on shares of Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.57.

Exelixis Stock Performance

NASDAQ EXEL opened at $28.73 on Tuesday. The stock has a market cap of $8.20 billion, a PE ratio of 24.77, a P/E/G ratio of 0.61 and a beta of 0.54. The firm has a 50-day moving average of $26.69 and a 200-day moving average of $24.09. Exelixis has a 52-week low of $19.20 and a 52-week high of $29.75.

Insiders Place Their Bets

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $26.38, for a total value of $659,500.00. Following the completion of the transaction, the executive vice president now directly owns 605,325 shares in the company, valued at approximately $15,968,473.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the transaction, the chief financial officer now directly owns 721,680 shares in the company, valued at approximately $19,622,479.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the transaction, the executive vice president now directly owns 605,325 shares of the company’s stock, valued at $15,968,473.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 327,858 shares of company stock valued at $8,640,129. 2.85% of the stock is currently owned by insiders.

Institutional Trading of Exelixis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXEL. LSV Asset Management boosted its stake in shares of Exelixis by 107.7% in the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after purchasing an additional 2,989,021 shares during the last quarter. Jupiter Asset Management Ltd. boosted its position in Exelixis by 148.2% during the first quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock valued at $53,817,000 after acquiring an additional 1,354,062 shares during the last quarter. Swedbank AB acquired a new stake in Exelixis during the 1st quarter worth about $22,455,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Exelixis in the 1st quarter worth about $10,906,000. Finally, Farallon Capital Management LLC lifted its stake in shares of Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after purchasing an additional 424,000 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

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.