FY2024 EPS Estimates for Exelixis Increased by William Blair

Exelixis, Inc. (NASDAQ:EXEL) – Investment analysts at William Blair boosted their FY2024 earnings per share estimates for shares of Exelixis in a report released on Sunday, January 12th. William Blair analyst A. Hsieh now expects that the biotechnology company will post earnings per share of $1.74 for the year, up from their prior estimate of $1.68. The consensus estimate for Exelixis’ current full-year earnings is $1.69 per share. William Blair also issued estimates for Exelixis’ Q4 2024 earnings at $0.45 EPS, Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.42 EPS, Q3 2025 earnings at $0.43 EPS and Q4 2025 earnings at $0.43 EPS.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating 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 company had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same period last year, the firm posted $0.10 earnings per share. Exelixis’s revenue was up 14.3% compared to the same quarter last year.

A number of other equities research analysts also recently commented on the stock. TD Cowen lifted their target price on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Brookline Capital Management started coverage on Exelixis in a report on Monday, December 23rd. They issued a “buy” rating for the company. HC Wainwright upped their price objective on Exelixis from $29.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 10th. JMP Securities reissued a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a research report on Friday, October 11th. Finally, Guggenheim upped their price target on shares of Exelixis from $33.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.75.

Exelixis Stock Up 1.0 %

Shares of EXEL stock opened at $35.65 on Tuesday. The company has a 50 day moving average price of $34.90 and a 200-day moving average price of $28.99. Exelixis has a 52 week low of $20.01 and a 52 week high of $36.97. The firm has a market capitalization of $10.18 billion, a PE ratio of 22.85, a P/E/G ratio of 0.88 and a beta of 0.53.

Institutional Trading of Exelixis

Institutional investors and hedge funds have recently bought and sold shares of the stock. USA Financial Formulas bought a new stake in shares of Exelixis in the fourth quarter worth about $32,000. V Square Quantitative Management LLC bought a new stake in Exelixis in the 3rd quarter worth approximately $30,000. Brooklyn Investment Group purchased a new stake in shares of Exelixis during the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Exelixis during the 3rd quarter worth approximately $61,000. Finally, Essex Investment Management Co. LLC bought a new position in shares of Exelixis during the 3rd quarter valued at approximately $74,000. 85.27% of the stock is currently owned by institutional investors.

Insider Activity

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.39, for a total transaction of $709,750.00. Following the completion of the sale, the executive vice president now directly owns 580,325 shares of the company’s stock, valued at $16,475,426.75. This trade represents a 4.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director George Poste sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now directly owns 169,020 shares in the company, valued at $5,746,680. This trade represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 314,736 shares of company stock worth $10,849,110 over the last ninety days. Corporate 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.