Exelixis (NASDAQ:EXEL) Releases Earnings Results, Beats Expectations By $0.10 EPS

Exelixis (NASDAQ:EXEL) announced its quarterly earnings data on Tuesday. The biotechnology company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.68 by $0.10, Briefing.com reports. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The business had revenue of $597.76 million during the quarter, compared to the consensus estimate of $590.04 million. During the same period in the previous year, the business earned $0.47 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. Exelixis updated its FY 2025 guidance to EPS.

Exelixis Price Performance

Shares of EXEL stock traded up $2.39 on Wednesday, reaching $40.29. 2,883,556 shares of the company were exchanged, compared to its average volume of 2,961,226. The company has a market cap of $10.85 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 0.79 and a beta of 0.38. The company has a 50-day moving average of $38.81 and a 200-day moving average of $40.31. Exelixis has a one year low of $31.90 and a one year high of $49.62.

Institutional Investors Weigh In On Exelixis

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its position in shares of Exelixis by 38.2% during the second quarter. Bank of America Corp DE now owns 2,638,666 shares of the biotechnology company’s stock worth $116,299,000 after acquiring an additional 728,956 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Exelixis by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock worth $54,153,000 after acquiring an additional 68,133 shares in the last quarter. Sei Investments Co. increased its position in shares of Exelixis by 11.5% during the second quarter. Sei Investments Co. now owns 899,991 shares of the biotechnology company’s stock worth $39,667,000 after acquiring an additional 92,477 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of Exelixis by 47.8% during the second quarter. Raymond James Financial Inc. now owns 886,654 shares of the biotechnology company’s stock worth $39,079,000 after acquiring an additional 286,628 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Exelixis by 55.9% during the second quarter. Ameriprise Financial Inc. now owns 722,500 shares of the biotechnology company’s stock worth $31,839,000 after acquiring an additional 259,189 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank Of Canada restated a “sector perform” rating and issued a $45.00 target price on shares of Exelixis in a research report on Tuesday, October 21st. Zacks Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Oppenheimer restated a “market perform” rating and issued a $36.00 target price on shares of Exelixis in a research report on Wednesday. The Goldman Sachs Group assumed coverage on shares of Exelixis in a research report on Wednesday, September 17th. They issued a “buy” rating and a $47.00 target price on the stock. Finally, JMP Securities restated a “market outperform” rating and issued a $50.00 target price on shares of Exelixis in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.35.

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.