Exelixis, Inc. Expected to Post FY2024 Earnings of $0.95 Per Share (NASDAQ:EXEL)

Exelixis, Inc. (NASDAQ:EXEL) – Research analysts at William Blair lowered their FY2024 earnings per share (EPS) estimates for Exelixis in a note issued to investors on Wednesday, May 1st. William Blair analyst A. Hsieh now expects that the biotechnology company will post earnings per share of $0.95 for the year, down from their prior forecast of $1.12. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Exelixis’ current full-year earnings is $1.17 per share. William Blair also issued estimates for Exelixis’ FY2025 earnings at $1.18 EPS.

A number of other analysts also recently weighed in on EXEL. Barclays downgraded Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a report on Thursday, April 11th. Stifel Nicolaus lifted their target price on Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, February 2nd. JMP Securities restated a “market outperform” rating and set a $27.00 price target on shares of Exelixis in a report on Wednesday, April 10th. TheStreet raised shares of Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, March 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $28.00 target price on shares of Exelixis in a research report on Friday, May 3rd. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.33.

Exelixis Stock Up 1.1 %

Shares of NASDAQ EXEL opened at $22.15 on Monday. The company has a market capitalization of $6.45 billion, a PE ratio of 34.61, a P/E/G ratio of 0.59 and a beta of 0.57. Exelixis has a twelve month low of $18.52 and a twelve month high of $24.34. The firm has a fifty day simple moving average of $22.99 and a 200 day simple moving average of $22.25.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $461.04 million. During the same quarter in the previous year, the business posted $0.12 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year.

Institutional Investors Weigh In On Exelixis

Hedge funds have recently made changes to their positions in the business. Fisher Asset Management LLC raised its position in Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 728 shares during the period. Contravisory Investment Management Inc. purchased a new stake in shares of Exelixis during the 4th quarter worth approximately $26,000. GAMMA Investing LLC bought a new stake in shares of Exelixis in the 4th quarter worth approximately $27,000. Rise Advisors LLC purchased a new position in Exelixis in the first quarter valued at approximately $28,000. Finally, Fifth Third Bancorp grew its holdings in Exelixis by 44.2% during the third quarter. Fifth Third Bancorp now owns 1,970 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 604 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Exelixis

In other news, Director David Edward Johnson bought 190,000 shares of Exelixis stock in a transaction dated Wednesday, February 21st. The stock was purchased at an average price of $20.70 per share, for a total transaction of $3,933,000.00. Following the purchase, the director now directly owns 1,100,730 shares in the company, valued at approximately $22,785,111. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director David Edward Johnson bought 190,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were purchased at an average price of $20.70 per share, with a total value of $3,933,000.00. Following the transaction, the director now directly owns 1,100,730 shares in the company, valued at $22,785,111. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan M. Garber sold 19,205 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the sale, the director now directly owns 35,703 shares of the company’s stock, valued at $857,229.03. The disclosure for this sale can be found here. Company insiders own 2.85% of the company’s stock.

About Exelixis

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.