Exelixis, Inc. Expected to Earn FY2024 Earnings of $1.20 Per Share (NASDAQ:EXEL)

Exelixis, Inc. (NASDAQ:EXEL) – Analysts at Leerink Partnrs issued their FY2024 earnings estimates for shares of Exelixis in a research note issued to investors on Wednesday, July 24th. Leerink Partnrs analyst A. Berens forecasts that the biotechnology company will post earnings of $1.20 per share for the year. The consensus estimate for Exelixis’ current full-year earnings is $1.14 per share. Leerink Partnrs also issued estimates for Exelixis’ Q4 2024 earnings at $0.41 EPS and FY2025 earnings at $1.56 EPS.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The firm had revenue of $425.23 million for the quarter, compared to analysts’ expectations of $461.04 million. During the same period in the prior year, the firm posted $0.12 earnings per share. Exelixis’s revenue for the quarter was up 4.0% on a year-over-year basis.

EXEL has been the subject of several other reports. JMP Securities reissued a “market outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research report on Wednesday, April 10th. Stephens started coverage on shares of Exelixis in a research report on Tuesday, May 14th. They issued an “equal weight” rating and a $23.00 price objective for the company. William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Wednesday, May 1st. Barclays cut shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a research report on Thursday, April 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of Exelixis in a research report on Friday, May 3rd. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Exelixis currently has a consensus rating of “Moderate Buy” and an average price target of $26.13.

Exelixis Trading Up 2.7 %

EXEL stock opened at $22.96 on Friday. The stock has a market cap of $6.96 billion, a PE ratio of 35.88, a P/E/G ratio of 0.55 and a beta of 0.54. Exelixis has a 12 month low of $18.64 and a 12 month high of $24.34. The company has a 50-day moving average price of $21.88 and a 200 day moving average price of $22.17.

Institutional Trading of Exelixis

Large investors have recently bought and sold shares of the stock. LSV Asset Management boosted its holdings in shares of Exelixis by 1,651.4% in the 1st quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock valued at $65,844,000 after acquiring an additional 2,616,278 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Exelixis by 236.3% in the 4th quarter. State of Alaska Department of Revenue now owns 127,287 shares of the biotechnology company’s stock valued at $3,053,000 after acquiring an additional 89,436 shares during the last quarter. Advisors Preferred LLC purchased a new stake in shares of Exelixis in the 4th quarter valued at $3,384,000. Los Angeles Capital Management LLC boosted its holdings in shares of Exelixis by 948.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock valued at $58,240,000 after acquiring an additional 2,220,150 shares during the last quarter. Finally, NewEdge Wealth LLC boosted its holdings in Exelixis by 45.4% during the fourth quarter. NewEdge Wealth LLC now owns 681,104 shares of the biotechnology company’s stock worth $16,340,000 after buying an additional 212,553 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In related news, Director George Poste sold 11,686 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $20.96, for a total transaction of $244,938.56. Following the completion of the transaction, the director now owns 213,907 shares in the company, valued at approximately $4,483,490.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Exelixis news, Director Jack L. Wyszomierski sold 10,923 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $21.37, for a total transaction of $233,424.51. Following the sale, the director now owns 338,948 shares of the company’s stock, valued at approximately $7,243,318.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director George Poste sold 11,686 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $20.96, for a total transaction of $244,938.56. Following the sale, the director now directly owns 213,907 shares in the company, valued at approximately $4,483,490.72. The disclosure for this sale can be found here. Insiders sold a total of 30,896 shares of company stock worth $660,677 in the last 90 days. 2.85% of the stock is owned by corporate insiders.

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.