Q2 2024 EPS Estimates for Exelixis, Inc. (NASDAQ:EXEL) Lifted by Leerink Partnrs

Exelixis, Inc. (NASDAQ:EXEL) – Analysts at Leerink Partnrs upped their Q2 2024 earnings per share estimates for Exelixis in a report released on Wednesday, April 24th. Leerink Partnrs analyst A. Berens now anticipates that the biotechnology company will post earnings of $0.29 per share for the quarter, up from their prior estimate of $0.28. The consensus estimate for Exelixis’ current full-year earnings is $1.24 per share. Leerink Partnrs also issued estimates for Exelixis’ Q4 2024 earnings at $0.36 EPS and FY2025 earnings at $1.55 EPS.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. Exelixis had a net margin of 11.35% and a return on equity of 8.57%. The firm had revenue of $479.65 million for the quarter, compared to analysts’ expectations of $481.23 million.

A number of other research firms have also recently commented on EXEL. William Blair reiterated an “outperform” rating on shares of Exelixis in a report on Friday, January 26th. TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a report on Monday, March 18th. Barclays lowered shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a report on Thursday, April 11th. Royal Bank of Canada increased their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, JMP Securities reissued a “market outperform” rating and issued a $27.00 price target on shares of Exelixis in a research note on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.29.

Exelixis Price Performance

NASDAQ:EXEL opened at $23.70 on Friday. The company’s 50-day moving average is $22.80 and its two-hundred day moving average is $22.19. Exelixis has a 1-year low of $18.08 and a 1-year high of $24.34. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 0.61 and a beta of 0.54.

Insider Transactions at Exelixis

In related news, Director David Edward Johnson purchased 190,000 shares of Exelixis stock in a transaction on Wednesday, February 21st. The shares were bought at an average price of $20.70 per share, with a total value of $3,933,000.00. Following the transaction, the director now directly owns 1,100,730 shares of the company’s stock, valued at $22,785,111. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director David Edward Johnson acquired 190,000 shares of Exelixis stock in a transaction dated Wednesday, February 21st. The shares were acquired at an average cost of $20.70 per share, for a total transaction of $3,933,000.00. Following the acquisition, the director now owns 1,100,730 shares of the company’s stock, valued at $22,785,111. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 47,020 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the transaction, the executive vice president now owns 384,866 shares of the company’s stock, valued at approximately $8,255,375.70. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Exelixis

Institutional investors have recently modified their holdings of the stock. Fisher Asset Management LLC grew its position in shares of Exelixis by 232.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 728 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Exelixis during the fourth quarter worth about $26,000. GAMMA Investing LLC acquired a new stake in shares of Exelixis during the fourth quarter worth about $27,000. Rise Advisors LLC purchased a new stake in shares of Exelixis in the 1st quarter valued at about $28,000. Finally, Denali Advisors LLC boosted its position in shares of Exelixis by 7,995.2% in the 3rd quarter. Denali Advisors LLC now owns 1,700 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 1,679 shares during the period. 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.