FY2022 Earnings Forecast for Exelixis, Inc. Issued By Oppenheimer (NASDAQ:EXEL)


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Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at Oppenheimer raised their FY2022 earnings per share estimates for Exelixis in a note issued to investors on Monday, January 11th. Oppenheimer analyst J. Olson now anticipates that the biotechnology company will earn $1.24 per share for the year, up from their previous forecast of $1.14. Oppenheimer currently has a “Outperform” rating and a $37.00 target price on the stock. Oppenheimer also issued estimates for Exelixis’ FY2023 earnings at $2.00 EPS and FY2025 earnings at $3.35 EPS.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Thursday, November 5th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.11). Exelixis had a net margin of 15.88% and a return on equity of 8.55%. The company had revenue of $231.10 million during the quarter, compared to the consensus estimate of $215.40 million. During the same period in the previous year, the business posted $0.34 earnings per share. The firm’s revenue was down 14.9% on a year-over-year basis.

Several other analysts also recently issued reports on the stock. BidaskClub raised shares of Exelixis from a “sell” rating to a “hold” rating in a report on Thursday, January 7th. Morgan Stanley decreased their price target on shares of Exelixis from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, December 16th. Piper Sandler lifted their price objective on Exelixis from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, September 21st. Stifel Nicolaus increased their target price on Exelixis from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, October 26th. Finally, TheStreet downgraded Exelixis from a “b-” rating to a “c” rating in a research report on Wednesday, November 11th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Exelixis has a consensus rating of “Buy” and a consensus price target of $31.20.

Shares of EXEL stock opened at $24.37 on Wednesday. Exelixis has a 12 month low of $13.67 and a 12 month high of $27.80. The company has a market cap of $7.56 billion, a PE ratio of 50.77, a price-to-earnings-growth ratio of 2.60 and a beta of 1.22. The business’s 50 day moving average is $20.38 and its two-hundred day moving average is $22.11.

Several institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. bought a new stake in Exelixis in the 2nd quarter valued at $3,275,000. Schonfeld Strategic Advisors LLC increased its stake in Exelixis by 147.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 30,383 shares of the biotechnology company’s stock valued at $743,000 after acquiring an additional 18,088 shares during the period. Commerce Bank acquired a new position in Exelixis in the third quarter worth about $1,669,000. Brinker Capital Investments LLC bought a new position in Exelixis during the third quarter worth about $2,094,000. Finally, Weld Capital Management LLC bought a new stake in shares of Exelixis in the 3rd quarter valued at approximately $605,000. 77.29% of the stock is owned by institutional investors and hedge funds.

In related news, Director Vincent T. Marchesi sold 40,004 shares of the stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $18.50, for a total value of $740,074.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Lamb sold 65,000 shares of the firm’s stock in a transaction dated Friday, December 18th. The stock was sold at an average price of $20.01, for a total transaction of $1,300,650.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 243,746 shares of company stock worth $4,934,601. 4.50% of the stock is currently owned by company insiders.

About Exelixis

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.

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Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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