Exelixis, Inc. Expected to Post Q2 2024 Earnings of $0.29 Per Share (NASDAQ:EXEL)

Exelixis, Inc. (NASDAQ:EXEL) – Analysts at Leerink Partnrs boosted their Q2 2024 earnings estimates for Exelixis in a research report issued to clients and investors on Wednesday, April 24th. Leerink Partnrs analyst A. Berens now expects that the biotechnology company will earn $0.29 per share for the quarter, up from their previous forecast of $0.28. The consensus estimate for Exelixis’ current full-year earnings is $1.24 per share. Leerink Partnrs also issued estimates for Exelixis’ Q4 2024 earnings at $0.36 EPS and FY2025 earnings at $1.55 EPS.

Several other analysts also recently issued reports on EXEL. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 price objective on shares of Exelixis in a report on Wednesday, April 10th. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research report on Friday, January 26th. Barclays cut Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a research report on Thursday, April 11th. TheStreet raised Exelixis from a “c+” rating to a “b-” rating in a report on Monday, March 18th. Finally, Stifel Nicolaus lifted their price target on Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Exelixis presently has an average rating of “Moderate Buy” and an average price target of $26.29.

Exelixis Stock Up 0.7 %

Shares of Exelixis stock opened at $23.70 on Friday. Exelixis has a 12-month low of $18.08 and a 12-month high of $24.34. The stock has a market capitalization of $6.99 billion, a P/E ratio of 37.03, a PEG ratio of 0.61 and a beta of 0.54. The stock has a 50 day moving average price of $22.80 and a two-hundred day moving average price of $22.19.

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

Insiders Place Their Bets

In related news, EVP Patrick J. Haley sold 47,020 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.45, for a total value of $1,008,579.00. Following the sale, the executive vice president now owns 384,866 shares of the company’s stock, valued at $8,255,375.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Patrick J. Haley sold 47,020 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alan M. Garber sold 19,205 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the sale, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of hedge funds have recently made changes to their positions in the company. Fisher Asset Management LLC increased its holdings in Exelixis by 232.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 728 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in Exelixis in the fourth quarter worth $26,000. GAMMA Investing LLC bought a new stake in shares of Exelixis during the fourth quarter worth $27,000. Rise Advisors LLC acquired a new stake in shares of Exelixis in the first quarter valued at $28,000. Finally, Denali Advisors LLC raised its holdings in shares of Exelixis by 7,995.2% in the third quarter. Denali Advisors LLC now owns 1,700 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 1,679 shares during the last quarter. Institutional investors and hedge funds own 85.27% 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.