FY2024 EPS Estimates for Exelixis Reduced by Leerink Partnrs

Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at Leerink Partnrs cut their FY2024 earnings estimates for Exelixis in a report released on Monday, October 28th. Leerink Partnrs analyst A. Berens now expects that the biotechnology company will earn $1.57 per share for the year, down from their previous forecast of $1.59. The consensus estimate for Exelixis’ current full-year earnings is $1.58 per share. Leerink Partnrs also issued estimates for Exelixis’ FY2025 earnings at $1.81 EPS.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The company had revenue of $637.18 million during the quarter, compared to analyst estimates of $468.21 million.

Several other research analysts also recently commented on the stock. Morgan Stanley lifted their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Stifel Nicolaus lifted their price objective on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their target price on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Finally, Stephens boosted their price objective on shares of Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.44.

Exelixis Stock Performance

Shares of EXEL stock opened at $33.20 on Wednesday. The company has a market capitalization of $9.47 billion, a P/E ratio of 28.62, a PEG ratio of 0.61 and a beta of 0.54. Exelixis has a fifty-two week low of $19.20 and a fifty-two week high of $33.60. The stock has a 50 day moving average price of $26.96 and a two-hundred day moving average price of $24.21.

Insider Activity at Exelixis

In other news, EVP Dana Aftab sold 95,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the executive vice president now directly owns 520,990 shares in the company, valued at $13,024,750. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Exelixis news, EVP Jeffrey Hessekiel sold 20,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.79, for a total transaction of $515,800.00. Following the sale, the executive vice president now directly owns 630,325 shares in the company, valued at approximately $16,256,081.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the transaction, the executive vice president now owns 520,990 shares of the company’s stock, valued at $13,024,750. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 352,858 shares of company stock valued at $9,349,879 in the last 90 days. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Several large investors have recently bought and sold shares of the business. First Trust Direct Indexing L.P. purchased a new stake in shares of Exelixis during the 1st quarter valued at about $250,000. Commonwealth Equity Services LLC grew its position in Exelixis by 4.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 128,033 shares of the biotechnology company’s stock worth $3,038,000 after purchasing an additional 5,037 shares during the period. Smith Group Asset Management LLC purchased a new stake in Exelixis during the 1st quarter valued at $228,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Exelixis by 3.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,771 shares of the biotechnology company’s stock valued at $778,000 after buying an additional 1,301 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Exelixis by 6.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 60,746 shares of the biotechnology company’s stock worth $1,442,000 after buying an additional 3,510 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

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.