FY2024 EPS Estimates for Exelixis Raised by William Blair

Exelixis, Inc. (NASDAQ:EXEL) – Investment analysts at William Blair upped their FY2024 earnings per share (EPS) estimates for shares of Exelixis in a report released on Sunday, January 12th. William Blair analyst A. Hsieh now forecasts that the biotechnology company will post earnings of $1.74 per share for the year, up from their prior forecast of $1.68. The consensus estimate for Exelixis’ current full-year earnings is $1.69 per share. William Blair also issued estimates for Exelixis’ Q4 2024 earnings at $0.45 EPS, Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.42 EPS, Q3 2025 earnings at $0.43 EPS and Q4 2025 earnings at $0.43 EPS.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $539.50 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS.

Several other research firms also recently weighed in on EXEL. Royal Bank of Canada reiterated an “outperform” rating and set a $34.00 price target on shares of Exelixis in a research note on Wednesday, October 30th. BMO Capital Markets downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $36.00 to $40.00 in a report on Friday, December 20th. Truist Financial upped their target price on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus lifted their price target on shares of Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley lifted their target price on shares of Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.75.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $35.65 on Tuesday. The firm has a market capitalization of $10.18 billion, a P/E ratio of 22.85, a P/E/G ratio of 0.88 and a beta of 0.53. Exelixis has a 1 year low of $20.01 and a 1 year high of $36.97. The business’s 50-day moving average is $34.90 and its 200 day moving average is $28.99.

Insider Buying and Selling at Exelixis

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $28.39, for a total transaction of $709,750.00. Following the sale, the executive vice president now directly owns 580,325 shares of the company’s stock, valued at approximately $16,475,426.75. The trade was a 4.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 314,736 shares of company stock valued at $10,849,110 over the last three months. 2.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exelixis

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farallon Capital Management LLC raised 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 in the last quarter. Renaissance Technologies LLC raised its stake in Exelixis by 0.4% during the second quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock valued at $340,714,000 after buying an additional 61,350 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Exelixis by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock valued at $115,434,000 after buying an additional 349,837 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Exelixis by 12.7% during the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after buying an additional 370,199 shares during the last quarter. Finally, FMR LLC grew its position in shares of Exelixis by 6.1% in the 3rd quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock worth $63,891,000 after acquiring an additional 140,568 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

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.