Exelixis (EXEL) Set to Announce Earnings on Tuesday

Exelixis (NASDAQ:EXEL) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.35 per share for the quarter. Exelixis has set its FY 2024 guidance at EPS.Parties interested in participating in the company’s conference call can do so using this link.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.44. The business had revenue of $637.18 million for the quarter, compared to analysts’ expectations of $468.21 million. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. On average, analysts expect Exelixis to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Exelixis Stock Performance

EXEL opened at $28.66 on Tuesday. The stock has a market capitalization of $8.69 billion, a P/E ratio of 44.78, a P/E/G ratio of 0.54 and a beta of 0.54. The company’s 50-day simple moving average is $26.42 and its two-hundred day simple moving average is $23.83. Exelixis has a 52-week low of $18.64 and a 52-week high of $29.75.

Wall Street Analysts Forecast Growth

EXEL has been the topic of several research analyst reports. Bank of America upped their target price on shares of Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. UBS Group began coverage on shares of Exelixis in a research note on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Wednesday, September 18th. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Finally, Royal Bank of Canada increased their price objective on shares of Exelixis from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.57.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Maria C. Freire sold 8,250 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total transaction of $219,120.00. Following the completion of the sale, the director now directly owns 91,007 shares of the company’s stock, valued at $2,417,145.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the transaction, the director now directly owns 91,007 shares of the company’s stock, valued at approximately $2,417,145.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the transaction, the executive vice president now directly owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,858 shares of company stock valued at $8,640,129 in the last three months. 2.85% of the stock is currently owned by corporate insiders.

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.