Exelixis FY2024 EPS Estimate Decreased by Leerink Partnrs

Exelixis, Inc. (NASDAQ:EXEL) – Research analysts at Leerink Partnrs reduced their FY2024 earnings per share estimates for shares of Exelixis in a report released on Monday, October 28th. Leerink Partnrs analyst A. Berens now expects that the biotechnology company will earn $1.57 per share for the year, down from their previous forecast of $1.59. The consensus estimate for Exelixis’ current full-year earnings is $1.58 per share. Leerink Partnrs also issued estimates for Exelixis’ FY2025 earnings at $1.81 EPS.

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

EXEL has been the topic of several other research reports. BMO Capital Markets increased their price target on Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday. Stifel Nicolaus boosted their target price 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. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Stephens boosted their price objective on Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, TD Cowen increased their price objective on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.44.

Exelixis Trading Up 2.3 %

NASDAQ:EXEL opened at $33.20 on Wednesday. Exelixis has a 12 month low of $19.20 and a 12 month high of $33.60. The stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 0.61 and a beta of 0.54. The firm has a fifty day simple moving average of $26.96 and a two-hundred day simple moving average of $24.21.

Institutional Trading of Exelixis

A number of institutional investors have recently added to or reduced their stakes in EXEL. V Square Quantitative Management LLC bought a new stake in shares of Exelixis during the third quarter valued at about $30,000. Park Place Capital Corp bought a new position in Exelixis in the 2nd quarter valued at $45,000. GAMMA Investing LLC grew its position in Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,041 shares in the last quarter. EntryPoint Capital LLC increased its stake in Exelixis by 537.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 1,746 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Exelixis in the 3rd quarter valued at about $74,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Activity at Exelixis

In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the sale, the executive vice president now directly owns 520,990 shares in the company, valued at $13,024,750. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the transaction, the executive vice president now owns 520,990 shares in the company, valued at $13,024,750. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.79, for a total transaction of $515,800.00. Following the sale, the executive vice president now owns 630,325 shares in the company, valued at $16,256,081.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 352,858 shares of company stock worth $9,349,879. Insiders own 2.85% 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.