Exelixis (NASDAQ:EXEL) Releases Earnings Results, Misses Estimates By $0.03 EPS

Exelixis (NASDAQ:EXEL) released its quarterly earnings results on Tuesday. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03), Zacks reports. Exelixis had a return on equity of 20.99% and a net margin of 22.43%.

Exelixis Trading Down 0.0 %

EXEL stock opened at $32.80 on Thursday. The company has a market capitalization of $9.37 billion, a P/E ratio of 21.03, a PEG ratio of 0.63 and a beta of 0.53. Exelixis has a twelve month low of $20.14 and a twelve month high of $37.59. The business has a 50 day simple moving average of $34.24 and a 200-day simple moving average of $30.72.

Insider Activity

In other news, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the sale, the executive vice president now directly owns 278,665 shares of the company’s stock, valued at approximately $9,828,514.55. This represents a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,588 shares of company stock valued at $3,981,864. 2.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EXEL. Brookline Capital Management initiated coverage on shares of Exelixis in a research note on Monday, December 23rd. They set a “buy” rating on the stock. Piper Sandler increased their price target on shares of Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday. TD Cowen increased their price target on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Oppenheimer lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $41.00 to $33.00 in a research note on Friday, January 24th. Finally, Bank of America lowered shares of Exelixis from a “buy” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $39.00 in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

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.