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

Exelixis, Inc. (NASDAQ:EXEL) – Stock analysts at Leerink Partnrs issued their FY2024 earnings estimates for shares of Exelixis in a research note issued on Wednesday, July 24th. Leerink Partnrs analyst A. Berens expects that the biotechnology company will earn $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 announced its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.16). The company had revenue of $425.23 million for the quarter, compared to analysts’ expectations of $461.04 million. Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.12 earnings per share.

Other research analysts have also issued reports about the stock. JMP Securities reiterated a “market outperform” rating and set a $27.00 price objective on shares of Exelixis in a report on Wednesday, April 10th. William Blair reiterated an “outperform” rating on shares of Exelixis in a report on Wednesday, May 1st. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. Barclays lowered shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a report on Thursday, April 11th. Finally, Stephens started coverage on shares of Exelixis in a report on Tuesday, May 14th. They issued an “equal weight” rating and a $23.00 price target on the stock. Seven investment 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.13.

Exelixis Price Performance

Shares of EXEL stock opened at $22.96 on Friday. The firm has a market cap of $6.96 billion, a P/E ratio of 35.88, a PEG ratio of 0.55 and a beta of 0.54. Exelixis has a 1-year low of $18.64 and a 1-year high of $24.34. The firm’s 50-day simple moving average is $21.88 and its 200-day simple moving average is $22.17.

Hedge Funds Weigh In On Exelixis

Several large investors have recently added to or reduced their stakes in EXEL. Raymond James & Associates lifted its stake in Exelixis by 3.8% during the fourth quarter. Raymond James & Associates now owns 113,631 shares of the biotechnology company’s stock worth $2,726,000 after purchasing an additional 4,185 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Exelixis by 60.7% during the fourth quarter. Pacer Advisors Inc. now owns 61,973 shares of the biotechnology company’s stock worth $1,487,000 after purchasing an additional 23,418 shares during the last quarter. Values First Advisors Inc. lifted its stake in Exelixis by 7.6% during the fourth quarter. Values First Advisors Inc. now owns 17,032 shares of the biotechnology company’s stock worth $409,000 after purchasing an additional 1,207 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Exelixis by 236.3% during the fourth quarter. State of Alaska Department of Revenue now owns 127,287 shares of the biotechnology company’s stock worth $3,053,000 after purchasing an additional 89,436 shares during the last quarter. Finally, Braun Stacey Associates Inc. bought a new position in Exelixis during the fourth quarter worth $10,414,000. 85.27% of the stock is currently owned by institutional investors.

Insider Transactions at Exelixis

In other news, Director Jack L. Wyszomierski sold 10,923 shares of the firm’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 completion of the sale, the director now owns 338,948 shares of the company’s stock, valued at $7,243,318.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director David Edward Johnson purchased 225,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was acquired at an average price of $20.76 per share, with a total value of $4,671,000.00. Following the completion of the transaction, the director now owns 1,525,730 shares of the company’s stock, valued at $31,674,154.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack L. Wyszomierski sold 10,923 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $21.37, for a total transaction of $233,424.51. Following the sale, the director now directly owns 338,948 shares of the company’s stock, valued at approximately $7,243,318.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,896 shares of company stock valued at $660,677. 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.