Zacks Research Has Positive View of Exelixis FY2024 Earnings

Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of Exelixis in a report issued on Tuesday, November 19th. Zacks Research analyst E. Bagri now anticipates that the biotechnology company will post earnings of $1.67 per share for the year, up from their previous forecast of $1.52. The consensus estimate for Exelixis’ current full-year earnings is $1.69 per share. Zacks Research also issued estimates for Exelixis’ Q4 2024 earnings at $0.36 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.46 EPS, FY2025 earnings at $1.56 EPS, Q1 2026 earnings at $0.45 EPS, Q2 2026 earnings at $0.50 EPS, Q3 2026 earnings at $0.51 EPS and FY2026 earnings at $2.17 EPS.

A number of other brokerages also recently commented on EXEL. Guggenheim raised their price objective on Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Truist Financial raised their target price on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Bank of America boosted their price target on shares of Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Stephens raised their price objective on shares of Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, HC Wainwright reissued a “buy” rating and issued a $29.00 target price on shares of Exelixis in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Exelixis presently has an average rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Stock Performance

Shares of EXEL opened at $35.61 on Friday. The company has a 50-day simple moving average of $29.90 and a 200-day simple moving average of $25.60. Exelixis has a 52 week low of $19.20 and a 52 week high of $36.60. The firm has a market capitalization of $10.17 billion, a P/E ratio of 22.83, a P/E/G ratio of 0.88 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Exelixis’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 earnings per share.

Insider Transactions at Exelixis

In related news, EVP Jeffrey Hessekiel sold 20,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.79, for a total value of $515,800.00. Following the completion of the sale, the executive vice president now owns 630,325 shares in the company, valued at $16,256,081.75. This represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the transaction, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 289,736 shares of company stock worth $9,471,510 in the last quarter. 2.85% of the stock is owned by company insiders.

Institutional Trading of Exelixis

Several hedge funds have recently bought and sold shares of EXEL. Mitsubishi UFJ Trust & Banking Corp bought a new position in Exelixis during the 1st quarter worth about $1,216,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Exelixis in the first quarter valued at approximately $233,000. EntryPoint Capital LLC lifted its position in shares of Exelixis by 537.2% in the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 1,746 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Exelixis by 35.6% during the first quarter. Advisors Asset Management Inc. now owns 21,014 shares of the biotechnology company’s stock worth $499,000 after purchasing an additional 5,513 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its position in Exelixis by 12.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 10,454 shares of the biotechnology company’s stock valued at $248,000 after purchasing an additional 1,150 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.