William Blair Analysts Lift Earnings Estimates for Exelixis

Exelixis, Inc. (NASDAQ:EXEL) – Investment analysts at William Blair upped their FY2024 earnings per share (EPS) estimates for Exelixis in a report issued 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 announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The business had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS.

A number of other brokerages also recently commented on EXEL. Royal Bank of Canada restated an “outperform” rating and issued a $34.00 target price on shares of Exelixis in a research note on Wednesday, October 30th. UBS Group initiated coverage on Exelixis in a research report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price objective on the stock. Piper Sandler boosted their target price on shares of Exelixis from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday. Guggenheim raised their target price on Exelixis from $33.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Truist Financial increased their target price on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and an average target price of $33.75.

Exelixis Stock Performance

NASDAQ:EXEL opened at $35.30 on Tuesday. The firm’s fifty day moving average is $34.90 and its two-hundred day moving average is $28.99. The firm has a market cap of $10.08 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 0.88 and a beta of 0.53. Exelixis has a one year low of $20.01 and a one year high of $36.97.

Insider Transactions at Exelixis

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now owns 498,945 shares of the company’s stock, valued at $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. This trade represents a 10.99 % 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 worth $10,849,110 in the last quarter. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC lifted its stake in Exelixis by 45.3% during the second quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock worth $2,031,000 after purchasing an additional 28,126 shares in the last quarter. Farallon Capital Management LLC boosted its holdings in 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 period. Seizert Capital Partners LLC boosted its holdings in 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 period. Los Angeles Capital Management LLC grew its position in Exelixis by 124.0% in 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 acquiring an additional 991,494 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in Exelixis by 60.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock worth $1,424,000 after purchasing an additional 20,641 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

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.