Q3 2024 EPS Estimates for Exelixis, Inc. (NASDAQ:EXEL) Decreased by Analyst

Exelixis, Inc. (NASDAQ:EXEL) – Stock analysts at William Blair dropped their Q3 2024 earnings estimates for shares of Exelixis in a research note issued on Wednesday, May 1st. William Blair analyst A. Hsieh now expects that the biotechnology company will post earnings of $0.27 per share for the quarter, down from their prior forecast of $0.28. William Blair has a “Outperform” rating on the stock. The consensus estimate for Exelixis’ current full-year earnings is $1.23 per share. William Blair also issued estimates for Exelixis’ Q1 2025 earnings at $0.26 EPS, Q2 2025 earnings at $0.29 EPS, Q3 2025 earnings at $0.30 EPS and Q4 2025 earnings at $0.32 EPS.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). The company had revenue of $425.23 million for the quarter, compared to the consensus estimate of $461.04 million. Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 earnings per share.

Several other analysts have also recently issued reports on EXEL. 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. TD Cowen boosted their target price on Exelixis from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of Exelixis in a research report on Friday. Stifel Nicolaus upped their price objective on shares of Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Finally, Barclays downgraded shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.33.

Exelixis Stock Down 1.0 %

Shares of EXEL opened at $21.90 on Friday. The business’s 50-day moving average price is $22.97 and its 200-day moving average price is $22.22. Exelixis has a twelve month low of $18.52 and a twelve month high of $24.34. The stock has a market cap of $6.38 billion, a PE ratio of 34.22, a P/E/G ratio of 0.57 and a beta of 0.57.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in Exelixis by 0.9% in the fourth 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 grew its stake in shares of Exelixis by 18.5% in the 4th quarter. First Trust Advisors LP now owns 3,152,755 shares of the biotechnology company’s stock worth $75,635,000 after buying an additional 492,613 shares during the last quarter. Norges Bank bought a new position in Exelixis during the 4th quarter valued at approximately $73,449,000. FMR LLC raised its stake in Exelixis by 9.3% during the third quarter. FMR LLC now owns 2,884,424 shares of the biotechnology company’s stock valued at $63,025,000 after buying an additional 246,605 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Exelixis by 948.3% in the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after acquiring an additional 2,220,150 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the transaction, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Patrick J. Haley sold 47,020 shares of Exelixis stock in a transaction that occurred 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 sale, the executive vice president now directly owns 384,866 shares in the company, valued at $8,255,375.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan M. Garber sold 19,205 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the transaction, the director now owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The disclosure for this sale can be found here. 2.85% of the stock is currently owned by insiders.

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.