FY2024 Earnings Forecast for Exelixis, Inc. (NASDAQ:EXEL) Issued By William Blair

Exelixis, Inc. (NASDAQ:EXEL) – Stock analysts at William Blair lowered their FY2024 earnings per share estimates for shares of Exelixis in a report released on Wednesday, May 1st. William Blair analyst A. Hsieh now anticipates that the biotechnology company will earn $0.95 per share for the year, down from their previous forecast of $1.12. William Blair has a “Outperform” rating on the stock. The consensus estimate for Exelixis’ current full-year earnings is $1.17 per share. William Blair also issued estimates for Exelixis’ FY2025 earnings at $1.18 EPS.

EXEL has been the topic of several other reports. Royal Bank of Canada raised their target price on Exelixis from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Barclays lowered Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a report on Thursday, April 11th. JMP Securities reissued a “market outperform” rating and issued a $27.00 price target on shares of Exelixis in a research report on Wednesday, April 10th. HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of Exelixis in a research note on Friday. Finally, TD Cowen raised their price target on Exelixis from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Six investment 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

Exelixis Trading Down 1.0 %

Exelixis stock opened at $21.90 on Monday. The company has a market capitalization of $6.38 billion, a P/E ratio of 34.22, a P/E/G ratio of 0.56 and a beta of 0.57. Exelixis has a 1-year low of $18.52 and a 1-year high of $24.34. The firm’s fifty day simple moving average is $22.98 and its 200-day simple moving average is $22.23.

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

Institutional Investors Weigh In On Exelixis

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC boosted its holdings in Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 728 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in Exelixis during the 4th quarter valued at about $26,000. GAMMA Investing LLC bought a new position in shares of Exelixis in the 4th quarter valued at about $27,000. Rise Advisors LLC acquired a new stake in shares of Exelixis during the 1st quarter worth approximately $28,000. Finally, Fifth Third Bancorp raised its stake in shares of Exelixis by 44.2% during the third quarter. Fifth Third Bancorp now owns 1,970 shares of the biotechnology company’s stock worth $43,000 after buying an additional 604 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Exelixis

In other Exelixis news, 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 value of $1,008,579.00. Following the transaction, the executive vice president now owns 384,866 shares of the company’s stock, valued at $8,255,375.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.45, for a total value of $1,008,579.00. Following the completion of the transaction, the executive vice president now directly owns 384,866 shares of the company’s stock, valued at $8,255,375.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alan M. Garber sold 19,205 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total transaction of $461,112.05. Following the transaction, the director now owns 35,703 shares in the company, valued at $857,229.03. The disclosure for this sale can be found here. Insiders own 2.85% of the company’s stock.

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.