William Blair Issues Positive Forecast for Exelixis Earnings

Exelixis, Inc. (NASDAQ:EXEL) – William Blair boosted their FY2024 earnings per share estimates for Exelixis in a note issued to investors on Sunday, January 12th. William Blair analyst A. Hsieh now expects that the biotechnology company will earn $1.74 per share for the year, up from their previous estimate 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.

EXEL has been the subject of a number of other research reports. Wells Fargo & Company lifted their price target on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. HC Wainwright lifted their target price on shares of Exelixis from $29.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. JMP Securities lifted their price objective on shares of Exelixis from $34.00 to $41.00 and gave the company a “market outperform” rating in a research note on Wednesday. UBS Group started coverage on shares of Exelixis in a research note on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, BMO Capital Markets lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $36.00 to $40.00 in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.75.

Exelixis Trading Up 4.5 %

Shares of Exelixis stock opened at $37.27 on Tuesday. The business has a 50-day moving average price of $34.92 and a two-hundred day moving average price of $29.08. Exelixis has a 1-year low of $20.01 and a 1-year high of $37.31. The company has a market cap of $10.64 billion, a P/E ratio of 23.89, a PEG ratio of 0.88 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The company 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 firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share.

Institutional Trading of Exelixis

Institutional investors have recently modified their holdings of the company. HB Wealth Management LLC lifted its holdings in Exelixis by 26.6% in the fourth quarter. HB Wealth Management LLC now owns 20,936 shares of the biotechnology company’s stock worth $697,000 after buying an additional 4,394 shares during the period. Merit Financial Group LLC purchased a new stake in Exelixis in the fourth quarter worth about $437,000. Tallon Kerry Patrick purchased a new stake in Exelixis in the fourth quarter worth about $2,619,000. USA Financial Formulas purchased a new stake in Exelixis in the fourth quarter worth about $32,000. Finally, Burney Co. purchased a new stake in Exelixis in the fourth quarter worth about $12,267,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Exelixis

In other news, 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 transaction of $2,200,200.00. Following the completion of the sale, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dana Aftab sold 96,986 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the sale, the executive vice president now owns 498,945 shares of the company’s stock, valued at approximately $17,463,075. This represents a 16.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 314,736 shares of company stock worth $10,849,110. Company 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.