FY2024 EPS Estimates for Exelixis Lifted by Zacks Research

Exelixis, Inc. (NASDAQ:EXEL) – Zacks Research boosted their FY2024 earnings per share estimates for Exelixis in a research note issued on Tuesday, November 19th. Zacks Research analyst E. Bagri now expects that the biotechnology company will earn $1.67 per share for the year, up from their previous estimate of $1.52. The consensus estimate for Exelixis’ current full-year earnings is $1.68 per share. Zacks Research also issued estimates for Exelixis’ Q4 2024 earnings at $0.36 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.46 EPS, FY2025 earnings at $1.56 EPS, Q1 2026 earnings at $0.45 EPS, Q2 2026 earnings at $0.50 EPS, Q3 2026 earnings at $0.51 EPS and FY2026 earnings at $2.17 EPS.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same period last year, the business posted $0.10 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis.

Several other research firms have also commented on EXEL. HC Wainwright restated a “buy” rating and set a $29.00 price target on shares of Exelixis in a research report on Wednesday, September 18th. Truist Financial raised their price target on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Bank of America lifted their target price on Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $34.00 target price on shares of Exelixis in a report on Wednesday, October 30th. Finally, Morgan Stanley lifted their target price on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.44.

Exelixis Stock Up 2.2 %

EXEL opened at $35.61 on Friday. Exelixis has a 52 week low of $19.20 and a 52 week high of $36.60. The business has a fifty day simple moving average of $29.90 and a 200-day simple moving average of $25.57. The firm has a market cap of $10.17 billion, a P/E ratio of 22.83, a P/E/G ratio of 0.87 and a beta of 0.51.

Insider Transactions at Exelixis

In related news, EVP Patrick J. Haley sold 41,588 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the transaction, the executive vice president now owns 288,665 shares of the company’s stock, valued at $9,918,529.40. This trade represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Dana Aftab sold 96,986 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total value of $3,394,510.00. Following the transaction, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $17,463,075. This represents a 16.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 289,736 shares of company stock worth $9,471,510. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of institutional investors have recently added to or reduced their stakes in EXEL. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Exelixis in the 1st quarter valued at approximately $1,216,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Exelixis during the 1st quarter worth approximately $233,000. EntryPoint Capital LLC boosted its stake in shares of Exelixis by 537.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 1,746 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Exelixis by 35.6% during the 1st quarter. Advisors Asset Management Inc. now owns 21,014 shares of the biotechnology company’s stock worth $499,000 after acquiring an additional 5,513 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its stake in shares of Exelixis by 12.4% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 10,454 shares of the biotechnology company’s stock worth $248,000 after acquiring an additional 1,150 shares in the last quarter. Hedge funds and other institutional investors own 85.27% 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.