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

Exelixis, Inc. (NASDAQ:EXEL) – Leerink Partnrs boosted their Q2 2024 earnings estimates for shares of Exelixis in a research report issued to clients and investors on Wednesday, April 24th. Leerink Partnrs analyst A. Berens now forecasts that the biotechnology company will post earnings per share of $0.29 for the quarter, up from their previous forecast of $0.28. The consensus estimate for Exelixis’ current full-year earnings is $1.21 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 issued its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. The business had revenue of $479.65 million for the quarter, compared to analysts’ expectations of $481.23 million. Exelixis had a net margin of 11.35% and a return on equity of 8.57%.

Several other analysts also recently commented on the stock. JMP Securities restated a “market outperform” rating and set a $27.00 price objective on shares of Exelixis in a research report on Wednesday, April 10th. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, March 18th. Stifel Nicolaus raised their price objective on shares of Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. Barclays downgraded shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a research report on Thursday, April 11th. Finally, William Blair restated an “outperform” rating on shares of Exelixis in a research report on Friday, January 26th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.29.

Exelixis Price Performance

Shares of EXEL stock opened at $23.70 on Friday. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 0.63 and a beta of 0.54. Exelixis has a one year low of $18.08 and a one year high of $24.34. The company’s fifty day moving average price is $22.80 and its 200-day moving average price is $22.18.

Insider Buying and Selling at Exelixis

In other news, Director Alan M. Garber sold 19,205 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the sale, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Alan M. Garber sold 19,205 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the sale, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Patrick J. Haley sold 47,020 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 384,866 shares in the company, valued at $8,255,375.70. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

Institutional Trading of Exelixis

A number of large investors have recently made changes to their positions in EXEL. Charles Schwab Investment Management Inc. boosted its stake in shares of Exelixis by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,364,480 shares of the biotechnology company’s stock worth $80,714,000 after purchasing an additional 28,840 shares during the period. First Trust Advisors LP boosted its stake in shares of Exelixis by 18.5% during the 4th quarter. First Trust Advisors LP now owns 3,152,755 shares of the biotechnology company’s stock worth $75,635,000 after purchasing an additional 492,613 shares during the period. Norges Bank purchased a new position in shares of Exelixis during the 4th quarter worth about $73,449,000. FMR LLC boosted its stake in shares of Exelixis by 9.3% during the 3rd quarter. FMR LLC now owns 2,884,424 shares of the biotechnology company’s stock worth $63,025,000 after purchasing an additional 246,605 shares during the period. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Exelixis by 948.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after purchasing an additional 2,220,150 shares during the period. 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.