Exelixis (NASDAQ:EXEL) Issues Earnings Results, Beats Estimates By $0.04 EPS

Exelixis (NASDAQ:EXEL - Get Free Report) posted its quarterly earnings results on Tuesday. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.04, Zacks reports. The company had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. Exelixis updated its FY 2024 guidance to EPS.

Exelixis Trading Up 2.8 %

EXEL stock traded up $0.92 on Friday, hitting $34.12. 4,537,134 shares of the company's stock traded hands, compared to its average volume of 2,070,353. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 0.69 and a beta of 0.54. Exelixis has a 1-year low of $19.20 and a 1-year high of $34.45. The stock has a fifty day moving average of $27.13 and a 200-day moving average of $24.29.

Insider Buying and Selling at Exelixis

In other news, EVP Dana Aftab sold 1,162 shares of the firm's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares of the company's stock, valued at $15,666,873. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Christopher J. Senner sold 125,000 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the transaction, the chief financial officer now owns 721,680 shares of the company's stock, valued at approximately $19,622,479.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dana Aftab sold 1,162 shares of the business's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the sale, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $15,666,873. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 354,020 shares of company stock valued at $9,386,366. Corporate insiders own 2.85% of the company's stock.

Wall Street Analyst Weigh In

EXEL has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on Exelixis from $32.00 to $36.00 and gave the company an "overweight" rating in a research note on Wednesday. Guggenheim upped their price objective on Exelixis from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday. Truist Financial increased their target price on Exelixis from $33.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday. Royal Bank of Canada reissued an "outperform" rating and set a $34.00 price target on shares of Exelixis in a report on Wednesday. Finally, Piper Sandler increased their price objective on shares of Exelixis from $33.00 to $36.00 and gave the stock an "overweight" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.44.

Exelixis Company Profile

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.