Exelixis (NASDAQ:EXEL) Announces Earnings Results, Misses Estimates By $0.03 EPS

Exelixis (NASDAQ:EXEL) released its earnings results on Tuesday. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03), Zacks reports. Exelixis had a net margin of 22.43% and a return on equity of 20.99%.

Exelixis Trading Down 2.1 %

Shares of Exelixis stock opened at $32.81 on Wednesday. The company has a market capitalization of $9.37 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53. The stock has a fifty day simple moving average of $34.30 and a 200 day simple moving average of $30.71. Exelixis has a 12-month low of $20.01 and a 12-month high of $37.59.

Insider Buying and Selling at Exelixis

In other news, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the transaction, the executive vice president now directly owns 278,665 shares of the company’s stock, valued at $9,828,514.55. This represents a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the sale, the executive vice president now owns 486,059 shares in the company, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,588 shares of company stock worth $3,981,864. Corporate insiders own 2.85% of the company’s stock.

Analyst Ratings Changes

EXEL has been the topic of a number of recent analyst reports. Brookline Capital Management initiated coverage on Exelixis in a research note on Monday, December 23rd. They issued a “buy” rating on the stock. UBS Group boosted their price target on Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. TD Cowen raised their price objective on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Finally, Piper Sandler raised their price target on shares of Exelixis from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.06.

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.