Q4 Earnings Estimate for Exelixis Issued By Leerink Partnrs

Exelixis, Inc. (NASDAQ:EXEL - Free Report) - Leerink Partnrs decreased their Q4 2024 earnings per share (EPS) estimates for shares of Exelixis in a research note issued to investors on Monday, October 28th. Leerink Partnrs analyst A. Berens now forecasts that the biotechnology company will earn $0.35 per share for the quarter, down from their prior forecast of $0.36. The consensus estimate for Exelixis' current full-year earnings is $1.58 per share.

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

Other equities research analysts have also issued research reports about the company. TD Cowen lifted their price objective on Exelixis from $27.00 to $34.00 and gave the company a "buy" rating in a report on Monday, October 21st. Bank of America boosted their price target on Exelixis from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Morgan Stanley lifted their price objective on Exelixis from $26.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Friday, October 11th. StockNews.com upgraded shares of Exelixis from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 13th. Finally, UBS Group initiated coverage on shares of Exelixis in a report on Thursday, September 19th. They set a "neutral" rating and a $30.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Exelixis has a consensus rating of "Moderate Buy" and an average price target of $29.57.

Exelixis Trading Up 0.8 %

Shares of Exelixis stock traded up $0.23 on Tuesday, reaching $28.73. 2,805,162 shares of the stock were exchanged, compared to its average volume of 2,024,927. The firm has a market capitalization of $8.20 billion, a PE ratio of 24.77, a PEG ratio of 0.61 and a beta of 0.54. Exelixis has a 1-year low of $19.20 and a 1-year high of $29.75. The business has a fifty day moving average price of $26.69 and a two-hundred day moving average price of $24.09.

Insider Activity

In related news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the transaction, the executive vice president now owns 520,990 shares in the company, valued at approximately $13,024,750. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Dana Aftab sold 95,000 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 520,990 shares in the company, valued at approximately $13,024,750. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maria C. Freire sold 8,250 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the transaction, the director now directly owns 91,007 shares in the company, valued at $2,417,145.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,858 shares of company stock valued at $8,640,129 in the last three months. Corporate insiders own 2.85% of the company's stock.

Institutional Investors Weigh In On Exelixis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Exelixis during the third quarter valued at about $30,000. Park Place Capital Corp acquired a new stake in Exelixis during the 2nd quarter valued at approximately $45,000. GAMMA Investing LLC increased its holdings in Exelixis by 107.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company's stock worth $45,000 after purchasing an additional 1,041 shares during the last quarter. EntryPoint Capital LLC increased its holdings in 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 purchasing an additional 1,746 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Exelixis in the 3rd quarter valued at approximately $74,000. 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.