FY2024 EPS Estimates for Exelixis Lifted by William Blair

Exelixis, Inc. (NASDAQ:EXEL - Free Report) - Equities researchers at William Blair boosted their FY2024 earnings estimates for shares of Exelixis in a research report issued on Sunday, January 12th. William Blair analyst A. Hsieh now expects that the biotechnology company will earn $1.74 per share 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 - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping 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 firm had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same period in the previous year, the company posted $0.10 EPS. Exelixis's revenue for the quarter was up 14.3% on a year-over-year basis.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group upgraded shares of Exelixis to a "strong sell" rating in a research report on Tuesday, October 15th. JMP Securities reaffirmed a "market outperform" rating and issued a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th. BMO Capital Markets cut Exelixis from an "outperform" rating to a "market perform" rating and lifted their price target for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. Royal Bank of Canada restated an "outperform" rating and issued a $34.00 target price on shares of Exelixis in a report on Wednesday, October 30th. Finally, Stifel Nicolaus increased their price target on shares of Exelixis from $26.00 to $30.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.75.

Exelixis Price Performance

Shares of NASDAQ:EXEL traded up $0.35 during midday trading on Tuesday, reaching $35.65. The company had a trading volume of 4,250,783 shares, compared to its average volume of 2,395,157. Exelixis has a one year low of $20.01 and a one year high of $36.97. The stock's fifty day moving average price is $34.90 and its 200-day moving average price is $28.99. The stock has a market capitalization of $10.18 billion, a P/E ratio of 22.85, a PEG ratio of 0.88 and a beta of 0.53.

Institutional Investors Weigh In On Exelixis

Institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Exelixis during the 3rd quarter worth $30,000. USA Financial Formulas acquired a new position in shares of Exelixis in the 4th quarter valued at $32,000. Brooklyn Investment Group acquired a new position in shares of Exelixis during the 3rd quarter worth about $42,000. Capital Performance Advisors LLP acquired a new position in Exelixis during the third quarter valued at approximately $61,000. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Exelixis in the 3rd quarter valued at $74,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Transactions at Exelixis

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the firm's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the transaction, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George Poste sold 30,000 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the sale, the director now owns 169,020 shares in the company, valued at approximately $5,746,680. This represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,736 shares of company stock worth $10,849,110. Insiders own 2.85% of the company's stock.

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.