Research Analysts Set Expectations for Exelixis, Inc.’s Q3 2024 Earnings (NASDAQ:EXEL)

Exelixis, Inc. (NASDAQ:EXEL) – Stock analysts at William Blair lowered their Q3 2024 earnings per share estimates for shares of Exelixis in a report issued on Wednesday, May 1st. William Blair analyst A. Hsieh now expects that the biotechnology company will earn $0.27 per share for the quarter, down from their previous forecast of $0.28. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Exelixis’ current full-year earnings is $1.22 per share. William Blair also issued estimates for Exelixis’ Q1 2025 earnings at $0.26 EPS, Q2 2025 earnings at $0.29 EPS, Q3 2025 earnings at $0.30 EPS and Q4 2025 earnings at $0.32 EPS.

EXEL has been the subject of several other research reports. Royal Bank of Canada raised their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. TD Cowen boosted their price objective on Exelixis from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday. TheStreet raised Exelixis from a “c+” rating to a “b-” rating in a report on Monday, March 18th. Stifel Nicolaus boosted their price target on Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a report on Friday, February 2nd. Finally, JMP Securities restated a “market outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research report on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.33.

Exelixis Trading Down 1.0 %

EXEL opened at $21.90 on Friday. The firm has a 50 day moving average of $22.98 and a two-hundred day moving average of $22.22. The firm has a market capitalization of $6.38 billion, a PE ratio of 34.22, a P/E/G ratio of 0.57 and a beta of 0.57. Exelixis has a 12-month low of $18.52 and a 12-month high of $24.34.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). The firm had revenue of $425.23 million for the quarter, compared to analyst estimates of $461.04 million. Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.12 EPS.

Insider Activity at Exelixis

In other news, Director David Edward Johnson bought 190,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were acquired at an average price of $20.70 per share, for a total transaction of $3,933,000.00. Following the completion of the transaction, the director now directly owns 1,100,730 shares in the company, valued at approximately $22,785,111. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Patrick J. Haley sold 47,020 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were 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 of the company’s stock, valued at $8,255,375.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Edward Johnson bought 190,000 shares of Exelixis stock in a transaction dated 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 completion of the transaction, the director now directly owns 1,100,730 shares of the company’s stock, valued at $22,785,111. The disclosure for this purchase can be found here. 2.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Exelixis

Large investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC boosted its holdings in shares of Exelixis by 4.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 120,479 shares of the biotechnology company’s stock worth $2,632,000 after purchasing an additional 4,639 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Exelixis by 432.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 22,853 shares of the biotechnology company’s stock valued at $499,000 after buying an additional 18,560 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Exelixis by 2.7% in the 3rd quarter. New York State Teachers Retirement System now owns 410,760 shares of the biotechnology company’s stock worth $8,975,000 after acquiring an additional 10,719 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Exelixis by 6.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,246 shares of the biotechnology company’s stock worth $1,207,000 after acquiring an additional 3,241 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Exelixis by 13.2% during the 3rd quarter. Mackenzie Financial Corp now owns 216,586 shares of the biotechnology company’s stock valued at $4,739,000 after acquiring an additional 25,293 shares during the last quarter. Hedge funds and other institutional investors 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.