Leerink Partnrs Weighs in on Exelixis, Inc.’s Q1 2024 Earnings (NASDAQ:EXEL)

Exelixis, Inc. (NASDAQ:EXELFree Report) – Equities research analysts at Leerink Partnrs issued their Q1 2024 EPS estimates for Exelixis in a note issued to investors on Wednesday, February 7th. Leerink Partnrs analyst C. Liu anticipates that the biotechnology company will post earnings per share of $0.10 for the quarter. The consensus estimate for Exelixis’ current full-year earnings is $1.23 per share. Leerink Partnrs also issued estimates for Exelixis’ FY2025 earnings at $1.50 EPS.

A number of other equities analysts have also commented on the stock. William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Friday, January 26th. BTIG Research initiated coverage on shares of Exelixis in a report on Tuesday, December 19th. They set a “buy” rating and a $27.00 price objective on the stock. Morgan Stanley raised their target price on shares of Exelixis from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Barclays increased their price target on shares of Exelixis from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $27.00 price objective on shares of Exelixis in a report on Thursday, December 14th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.94.

Check Out Our Latest Analysis on EXEL

Exelixis Stock Up 0.8 %

NASDAQ EXEL opened at $20.39 on Monday. The stock has a market capitalization of $6.18 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 0.53 and a beta of 0.53. The company has a 50 day moving average price of $22.60 and a two-hundred day moving average price of $21.80. Exelixis has a 12-month low of $16.15 and a 12-month high of $24.34.

Insiders Place Their Bets

In related news, Director David Edward Johnson purchased 120,409 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were acquired at an average cost of $21.61 per share, with a total value of $2,602,038.49. Following the purchase, the director now directly owns 910,730 shares of the company’s stock, valued at $19,680,875.30. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Patrick J. Haley sold 50,000 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $23.35, for a total value of $1,167,500.00. Following the completion of the transaction, the executive vice president now owns 307,687 shares in the company, valued at $7,184,491.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Edward Johnson purchased 120,409 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was acquired at an average price of $21.61 per share, with a total value of $2,602,038.49. Following the purchase, the director now directly owns 910,730 shares of the company’s stock, valued at $19,680,875.30. The disclosure for this purchase can be found here. Insiders have sold 114,149 shares of company stock valued at $2,587,603 in the last ninety days. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Exelixis

A number of hedge funds have recently bought and sold shares of the company. Natixis Advisors L.P. bought a new position in Exelixis during the first quarter valued at approximately $325,000. BlackRock Inc. increased its holdings in Exelixis by 1.9% during the 1st quarter. BlackRock Inc. now owns 32,884,561 shares of the biotechnology company’s stock worth $745,493,000 after purchasing an additional 607,183 shares during the period. Great West Life Assurance Co. Can increased its holdings in Exelixis by 7.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 171,286 shares of the biotechnology company’s stock worth $3,990,000 after purchasing an additional 11,941 shares during the period. Yousif Capital Management LLC boosted its position in Exelixis by 1.2% during the 1st quarter. Yousif Capital Management LLC now owns 166,497 shares of the biotechnology company’s stock valued at $3,774,000 after acquiring an additional 1,931 shares in the last quarter. Finally, LSV Asset Management purchased a new position in shares of Exelixis in the 1st quarter valued at $12,872,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

About Exelixis

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Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines 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.

See Also

Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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