FY2024 EPS Estimates for Exelixis Reduced by Leerink Partnrs

Exelixis, Inc. (NASDAQ:EXEL - Free Report) - Research analysts at Leerink Partnrs dropped their FY2024 earnings estimates for Exelixis in a research report issued on Monday, October 28th. Leerink Partnrs analyst A. Berens now expects that the biotechnology company will post earnings per share of $1.57 for the year, down from their previous 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.

Several other analysts have also recently commented on the stock. Stifel Nicolaus upped their target price on shares of Exelixis from $26.00 to $30.00 and gave the company a "hold" rating in a research report on Wednesday, October 16th. BMO Capital Markets increased their price objective on shares of Exelixis from $29.00 to $36.00 and gave the stock an "outperform" rating in a research note on Wednesday. JMP Securities reiterated a "market outperform" rating and issued a $29.00 price target on shares of Exelixis in a research note on Friday, October 11th. Morgan Stanley increased their price target on shares of Exelixis from $26.00 to $28.00 and gave the company an "equal weight" rating in a report on Friday, October 11th. Finally, The Goldman Sachs Group raised Exelixis to a "strong sell" rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.44.

Exelixis Price Performance

Shares of EXEL stock traded up $3.71 during trading hours on Wednesday, reaching $32.44. 6,737,999 shares of the company were exchanged, compared to its average volume of 2,047,408. The stock's fifty day moving average is $26.69 and its two-hundred day moving average is $24.09. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 0.61 and a beta of 0.54. Exelixis has a fifty-two week low of $19.20 and a fifty-two week high of $33.32.

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

Insiders Place Their Bets

In related news, CFO Christopher J. Senner sold 125,000 shares of the business's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the sale, the chief financial officer now directly owns 721,680 shares in the company, valued at approximately $19,622,479.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Christopher J. Senner sold 125,000 shares of the business's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the sale, the chief financial officer now owns 721,680 shares of the company's stock, valued at approximately $19,622,479.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dana Aftab sold 95,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 520,990 shares in the company, valued at $13,024,750. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 327,858 shares of company stock valued at $8,640,129 in the last 90 days. 2.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXEL. V Square Quantitative Management LLC purchased a new stake in Exelixis during the 3rd quarter valued at about $30,000. Park Place Capital Corp purchased a new stake in shares of Exelixis during the second quarter valued at approximately $45,000. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 1,041 shares in the last quarter. EntryPoint Capital LLC raised its position in Exelixis by 537.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company's stock worth $49,000 after buying an additional 1,746 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in Exelixis during the third quarter valued at approximately $74,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

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.