Exelixis (NASDAQ:EXEL) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Key Points

• Exelixis reported quarterly earnings of $0.65 per share, beating the consensus estimate of $0.63 by $0.02, indicating strong performance despite a recent 2.7% drop in stock price.
• Insider sales saw significant activity, with Director Jack L. Wyszomierski selling 7,535 shares for approximately $324,683, alongside other transactions, reflecting a decrease in insider ownership.
• Recent analyst reviews have resulted in upward revisions to price targets, with Barclays setting a new target of $40 and HC Wainwright raising it to $53, while Exelixis maintains a consensus rating of "Moderate Buy."

Exelixis (NASDAQ:EXEL - Get Free Report) announced its quarterly earnings results on Monday. The biotechnology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.63 by $0.12, Briefing.com reports. The business had revenue of $568.26 million during the quarter, compared to analysts' expectations of $574.36 million. Exelixis had a return on equity of 28.81% and a net margin of 27.99%. The firm's quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. Exelixis updated its FY 2025 guidance to EPS.

Exelixis Trading Down 2.7%

EXEL opened at $44.39 on Tuesday. The stock has a market cap of $12.11 billion, a PE ratio of 20.18, a P/E/G ratio of 0.91 and a beta of 0.28. Exelixis has a 1 year low of $22.96 and a 1 year high of $49.62. The stock's 50 day simple moving average is $43.45 and its 200-day simple moving average is $38.91.

Analysts Set New Price Targets

EXEL has been the subject of several recent research reports. Barclays boosted their price target on Exelixis from $29.00 to $40.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Guggenheim set a $45.00 price target on Exelixis and gave the stock a "buy" rating in a research note on Thursday, May 15th. HC Wainwright upped their price target on Exelixis from $47.00 to $53.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Morgan Stanley upped their price target on Exelixis from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Finally, Bank of America upped their price target on Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $45.33.

Insider Buying and Selling at Exelixis

In other news, Director Sue Gail Eckhardt sold 18,838 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $42.74, for a total transaction of $805,136.12. Following the sale, the director directly owned 21,380 shares in the company, valued at approximately $913,781.20. The trade was a 46.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Amy C. Peterson sold 72,776 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $45.47, for a total value of $3,309,124.72. Following the sale, the chief marketing officer owned 465,393 shares in the company, valued at approximately $21,161,419.71. This represents a 13.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 458,113 shares of company stock valued at $21,024,817 in the last quarter. 2.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Exelixis

A number of institutional investors and hedge funds have recently modified their holdings of EXEL. Goldman Sachs Group Inc. grew its position in Exelixis by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company's stock valued at $54,153,000 after acquiring an additional 68,133 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Exelixis by 81.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company's stock valued at $1,592,000 after acquiring an additional 19,407 shares during the period. Focus Partners Wealth grew its position in Exelixis by 83.4% in the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company's stock valued at $1,420,000 after acquiring an additional 17,483 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in Exelixis by 134.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company's stock valued at $61,000 after acquiring an additional 944 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.