FY2024 EPS Estimates for Exelixis Lifted by Leerink Partnrs

Exelixis, Inc. (NASDAQ:EXEL - Free Report) - Equities research analysts at Leerink Partnrs increased their FY2024 earnings estimates for Exelixis in a report issued on Wednesday, January 15th. Leerink Partnrs analyst A. Berens now anticipates that the biotechnology company will earn $1.79 per share for the year, up from their prior estimate of $1.49. The consensus estimate for Exelixis' current full-year earnings is $1.70 per share. Leerink Partnrs also issued estimates for Exelixis' Q4 2024 earnings at $0.50 EPS and FY2025 earnings at $2.15 EPS.

Several other equities research analysts have also issued reports on the stock. Stifel Nicolaus increased their target price on shares of Exelixis from $26.00 to $30.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. BMO Capital Markets cut shares of Exelixis from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. Truist Financial raised their price objective on shares of Exelixis from $38.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday. Bank of America downgraded shares of Exelixis from a "buy" rating to a "neutral" rating and upped their target price for the stock from $35.00 to $39.00 in a report on Tuesday, December 17th. Finally, Oppenheimer raised their price target on Exelixis from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Exelixis has an average rating of "Moderate Buy" and an average target price of $35.50.

Exelixis Stock Down 1.0 %

EXEL traded down $0.35 during midday trading on Friday, reaching $36.20. The company had a trading volume of 2,864,795 shares, compared to its average volume of 2,643,572. The business has a 50-day moving average of $34.97 and a two-hundred day moving average of $29.19. Exelixis has a 1 year low of $20.01 and a 1 year high of $37.59. The company has a market cap of $10.34 billion, a P/E ratio of 23.21, a P/E/G ratio of 0.87 and a beta of 0.53.

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

Insider Buying and Selling at Exelixis

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the business's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $28.39, for a total transaction of $709,750.00. Following the transaction, the executive vice president now owns 580,325 shares of the company's stock, valued at approximately $16,475,426.75. The trade was a 4.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 1,162 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the sale, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 314,736 shares of company stock worth $10,849,110 over the last 90 days. 2.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Inspire Investing LLC boosted its stake in shares of Exelixis by 25.0% during the 4th quarter. Inspire Investing LLC now owns 36,659 shares of the biotechnology company's stock worth $1,221,000 after purchasing an additional 7,331 shares during the period. Janney Montgomery Scott LLC lifted its stake in Exelixis by 9.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 33,296 shares of the biotechnology company's stock worth $1,109,000 after purchasing an additional 2,897 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Exelixis by 1,176.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 62,414 shares of the biotechnology company's stock valued at $2,078,000 after buying an additional 57,524 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Exelixis by 18.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company's stock valued at $63,000 after buying an additional 290 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Exelixis by 68.4% in the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock valued at $45,000 after acquiring an additional 553 shares during the last quarter. 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.