FY2024 EPS Estimates for Exelixis Lifted by Leerink Partnrs

Exelixis, Inc. (NASDAQ:EXEL) – Leerink Partnrs raised their FY2024 earnings per share (EPS) estimates for Exelixis in a report issued on Wednesday, January 15th. Leerink Partnrs analyst A. Berens now expects that the biotechnology company will post earnings of $1.79 per share for the year, up from their previous estimate of $1.49. The consensus estimate for Exelixis’ current full-year earnings is $1.70 per share. Leerink Partnrs also issued estimates for Exelixis’ Q4 2024 earnings at $0.50 EPS and FY2025 earnings at $2.15 EPS.

A number of other equities analysts also recently commented on the company. Stifel Nicolaus lifted their price target on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. BMO Capital Markets lowered Exelixis from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $36.00 to $40.00 in a research report on Friday, December 20th. Guggenheim upped their price target on Exelixis from $33.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Piper Sandler lifted their price objective on shares of Exelixis from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, TD Cowen increased their target price on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.50.

Exelixis Price Performance

Shares of EXEL stock opened at $36.20 on Friday. The firm has a fifty day moving average of $34.97 and a two-hundred day moving average of $29.33. The firm has a market cap of $10.34 billion, a P/E ratio of 23.21, a P/E/G ratio of 0.87 and a beta of 0.53. Exelixis has a 1-year low of $20.01 and a 1-year high of $37.59.

Exelixis (NASDAQ:EXEL) last released 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 during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS.

Insider Transactions at Exelixis

In other news, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the transaction, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $15,666,873. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 314,736 shares of company stock valued at $10,849,110. 2.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. grew its stake in shares of Exelixis by 1.0% in the 2nd quarter. Federated Hermes Inc. now owns 227,909 shares of the biotechnology company’s stock worth $5,121,000 after purchasing an additional 2,333 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Exelixis by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 465,048 shares of the biotechnology company’s stock worth $10,450,000 after buying an additional 14,443 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Exelixis by 7.3% in 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. Edgestream Partners L.P. lifted its position in shares of Exelixis by 128.6% during the 2nd quarter. Edgestream Partners L.P. now owns 114,785 shares of the biotechnology company’s stock valued at $2,579,000 after acquiring an additional 64,571 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in shares of Exelixis by 8.7% during the 2nd quarter. E Fund Management Co. Ltd. now owns 21,217 shares of the biotechnology company’s stock worth $477,000 after acquiring an additional 1,705 shares in the last quarter. 85.27% of the stock is currently owned by 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.