Leerink Partnrs Analysts Cut Earnings Estimates for Exelixis

Exelixis, Inc. (NASDAQ:EXEL) – Leerink Partnrs reduced their FY2024 earnings per share (EPS) estimates for Exelixis in a research note issued on Monday, October 28th. Leerink Partnrs analyst A. Berens now forecasts that the biotechnology company will post earnings of $1.57 per share for the year, down from their prior estimate of $1.59. The consensus estimate for Exelixis’ current full-year earnings is $1.58 per share. Leerink Partnrs also issued estimates for Exelixis’ FY2025 earnings at $1.81 EPS.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. The firm had revenue of $637.18 million during the quarter, compared to the consensus estimate of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%.

EXEL has been the subject of a number of other reports. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Oppenheimer reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Exelixis in a report on Tuesday, July 30th. Stifel Nicolaus upped their price target on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Guggenheim boosted their price objective on Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Stephens boosted their price objective on Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.44.

Exelixis Stock Up 12.9 %

Shares of EXEL opened at $32.44 on Wednesday. The stock has a 50 day moving average price of $26.81 and a 200 day moving average price of $24.15. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 0.61 and a beta of 0.54. Exelixis has a 52-week low of $19.20 and a 52-week high of $33.32.

Insiders Place Their Bets

In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the transaction, the executive vice president now owns 520,990 shares in the company, valued at approximately $13,024,750. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the sale, the executive vice president now owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George Poste sold 33,725 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $26.89, for a total value of $906,865.25. Following the completion of the sale, the director now directly owns 199,020 shares in the company, valued at $5,351,647.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 352,858 shares of company stock worth $9,349,879. 2.85% of the stock is owned by corporate insiders.

Institutional Trading of Exelixis

Several large investors have recently bought and sold shares of EXEL. V Square Quantitative Management LLC acquired a new stake in Exelixis in the third quarter valued at $30,000. Park Place Capital Corp acquired a new stake in shares of Exelixis during the second quarter valued at $45,000. GAMMA Investing LLC boosted its stake in shares of Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 1,041 shares during the last quarter. EntryPoint Capital LLC boosted its stake in shares of Exelixis by 537.2% during the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 1,746 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Exelixis during the third quarter valued at $74,000. Institutional investors and hedge funds 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.