Q2 2024 EPS Estimates for Exelixis, Inc. (NASDAQ:EXEL) Increased by Analyst

Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at Leerink Partnrs increased their Q2 2024 earnings per share (EPS) estimates for Exelixis in a report released on Wednesday, April 24th. Leerink Partnrs analyst A. Berens now anticipates that the biotechnology company will earn $0.29 per share for the quarter, up from their previous estimate of $0.28. The consensus estimate for Exelixis’ current full-year earnings is $1.21 per share. Leerink Partnrs also issued estimates for Exelixis’ Q4 2024 earnings at $0.36 EPS and FY2025 earnings at $1.55 EPS.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $479.65 million during the quarter, compared to the consensus estimate of $481.23 million. Exelixis had a return on equity of 8.57% and a net margin of 11.35%.

Several other equities research analysts also recently weighed in on EXEL. TheStreet raised Exelixis from a “c+” rating to a “b-” rating in a report on Monday, March 18th. Barclays downgraded Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a report on Thursday, April 11th. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 price target on shares of Exelixis in a report on Wednesday, April 10th. Royal Bank of Canada increased their price target on Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Exelixis in a report on Friday, January 26th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.29.

Exelixis Trading Down 0.8 %

EXEL stock opened at $23.53 on Friday. The company has a market capitalization of $6.94 billion, a P/E ratio of 36.77, a PEG ratio of 0.63 and a beta of 0.54. Exelixis has a twelve month low of $18.08 and a twelve month high of $24.34. The business has a 50 day simple moving average of $22.73 and a 200-day simple moving average of $22.17.

Insider Activity

In related news, Director David Edward Johnson acquired 190,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average price of $20.70 per share, for a total transaction of $3,933,000.00. Following the transaction, the director now owns 1,100,730 shares in the company, valued at approximately $22,785,111. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Patrick J. Haley sold 47,020 shares of Exelixis stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the completion of the sale, the executive vice president now owns 384,866 shares in the company, valued at approximately $8,255,375.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David Edward Johnson purchased 190,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was acquired at an average price of $20.70 per share, with a total value of $3,933,000.00. Following the acquisition, the director now directly owns 1,100,730 shares in the company, valued at $22,785,111. The disclosure for this purchase can be found here. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Exelixis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its holdings in Exelixis by 31.5% in the 3rd quarter. American Century Companies Inc. now owns 1,410,113 shares of the biotechnology company’s stock valued at $30,811,000 after buying an additional 338,021 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Exelixis by 236.3% in the 4th quarter. State of Alaska Department of Revenue now owns 127,287 shares of the biotechnology company’s stock valued at $3,053,000 after purchasing an additional 89,436 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Exelixis by 244.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 118,359 shares of the biotechnology company’s stock valued at $2,839,000 after purchasing an additional 83,999 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of Exelixis in the 4th quarter valued at about $3,384,000. Finally, Seven Eight Capital LP lifted its stake in shares of Exelixis by 61.7% in the 3rd quarter. Seven Eight Capital LP now owns 21,765 shares of the biotechnology company’s stock valued at $476,000 after purchasing an additional 8,305 shares in the last quarter. 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.