Exelixis (NASDAQ:EXEL) Posts Earnings Results, Misses Expectations By $0.03 EPS

Exelixis (NASDAQ:EXEL) announced its quarterly 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 Stock Performance

Shares of NASDAQ:EXEL traded down $0.69 during midday trading on Tuesday, reaching $32.81. The company had a trading volume of 2,179,947 shares, compared to its average volume of 2,496,625. The company has a fifty day simple moving average of $34.35 and a two-hundred day simple moving average of $30.64. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53. Exelixis has a 1-year low of $20.01 and a 1-year high of $37.59.

Analysts Set New Price Targets

A number of analysts recently issued reports on EXEL shares. Stephens restated an “equal weight” rating and issued a $29.00 price target on shares of Exelixis in a research note on Monday, January 27th. Oppenheimer lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $41.00 to $33.00 in a research note on Friday, January 24th. Piper Sandler boosted their price objective on Exelixis from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Guggenheim restated a “buy” rating on shares of Exelixis in a research report on Wednesday, January 22nd. Finally, Truist Financial increased their price target on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.06.

Insider Buying and Selling at Exelixis

In other news, 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 transaction of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares in the company, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 278,665 shares of the company’s stock, valued at approximately $9,828,514.55. This represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,588 shares of company stock valued at $3,981,864. 2.85% of the stock is currently 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.