William Blair Raises Earnings Estimates for Exelixis

Exelixis, Inc. (NASDAQ:EXEL) – Equities research analysts at William Blair lifted their FY2024 earnings per share estimates for shares of Exelixis in a report released on Sunday, January 12th. William Blair analyst A. Hsieh now anticipates that the biotechnology company will earn $1.74 per share for the year, up from their prior forecast of $1.68. The consensus estimate for Exelixis’ current full-year earnings is $1.69 per share. William Blair also issued estimates for Exelixis’ Q4 2024 earnings at $0.45 EPS, Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.42 EPS, Q3 2025 earnings at $0.43 EPS and Q4 2025 earnings at $0.43 EPS.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS.

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada reissued an “outperform” rating and issued a $34.00 price target on shares of Exelixis in a research note on Wednesday, October 30th. Bank of America lowered Exelixis from a “buy” rating to a “neutral” rating and upped their price objective for the company from $35.00 to $39.00 in a report on Tuesday, December 17th. HC Wainwright upped their price objective on Exelixis from $29.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 10th. Piper Sandler upped their price objective on Exelixis from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Monday. Finally, Guggenheim upped their price objective on Exelixis from $33.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.75.

Exelixis Stock Performance

NASDAQ:EXEL opened at $37.27 on Tuesday. Exelixis has a 1 year low of $20.01 and a 1 year high of $37.31. The stock has a market cap of $10.64 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 0.88 and a beta of 0.53. The business has a fifty day moving average of $34.92 and a 200-day moving average of $29.08.

Insiders Place Their Bets

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $28.39, for a total value of $709,750.00. Following the transaction, the executive vice president now directly owns 580,325 shares of the company’s stock, valued at $16,475,426.75. This represents a 4.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George Poste sold 30,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the transaction, the director now directly owns 169,020 shares in the company, valued at approximately $5,746,680. This represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 314,736 shares of company stock valued at $10,849,110 in the last three months. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC increased its holdings in shares of Exelixis by 45.3% during the 2nd quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock valued at $2,031,000 after acquiring an additional 28,126 shares during the last quarter. Farallon Capital Management LLC increased its holdings in shares of Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after acquiring an additional 424,000 shares during the last quarter. Seizert Capital Partners LLC increased its holdings in shares of Exelixis by 8.0% during the 3rd quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock valued at $12,195,000 after acquiring an additional 34,875 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Exelixis by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after purchasing an additional 991,494 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Exelixis by 60.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock valued at $1,424,000 after purchasing an additional 20,641 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

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.