Exelixis, Inc. (NASDAQ:EXEL - Get Rating) - Investment analysts at Oppenheimer raised their FY2024 earnings per share (EPS) estimates for shares of Exelixis in a research note issued on Wednesday, May 11th. Oppenheimer analyst J. Olson now forecasts that the biotechnology company will earn $1.56 per share for the year, up from their prior forecast of $1.55. Oppenheimer also issued estimates for Exelixis' FY2025 earnings at $2.12 EPS.
A number of other equities research analysts have also recently issued reports on EXEL. HC Wainwright lowered their target price on shares of Exelixis from $52.00 to $42.00 and set a "buy" rating on the stock in a report on Friday, February 18th. StockNews.com assumed coverage on shares of Exelixis in a research report on Thursday, March 31st. They set a "strong-buy" rating for the company. TheStreet upgraded shares of Exelixis from a "c" rating to a "b-" rating in a research report on Monday, February 28th. Piper Sandler reduced their price target on shares of Exelixis from $34.00 to $30.00 in a research report on Monday, March 14th. Finally, Jefferies Financial Group assumed coverage on shares of Exelixis in a research report on Thursday. They set a "buy" rating and a $28.00 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $31.13.
EXEL stock traded up $0.16 during midday trading on Friday, reaching $19.96. 5,848 shares of the company's stock traded hands, compared to its average volume of 2,062,145. The company has a 50-day moving average price of $21.91 and a two-hundred day moving average price of $19.71. Exelixis has a 52 week low of $15.50 and a 52 week high of $25.77. The firm has a market capitalization of $6.39 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 0.59 and a beta of 0.74. Exelixis (NASDAQ:EXEL - Get Rating) last issued its earnings results on Tuesday, May 10th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.07. Exelixis had a net margin of 19.60% and a return on equity of 14.05%. The business had revenue of $356.00 million for the quarter, compared to analysts' expectations of $363.22 million. The business's revenue was up 31.7% compared to the same quarter last year.
In related news, Director Stelios Papadopoulos sold 84,515 shares of the company's stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $19.56, for a total value of $1,653,113.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Hessekiel sold 18,000 shares of the company's stock in a transaction on Thursday, February 24th. The stock was sold at an average price of $20.00, for a total transaction of $360,000.00. The disclosure for this sale can be found here. Insiders sold 145,229 shares of company stock valued at $2,942,516 over the last quarter. 2.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its position in Exelixis by 26.4% during the fourth quarter. SG Americas Securities LLC now owns 103,060 shares of the biotechnology company's stock valued at $1,884,000 after buying an additional 21,503 shares during the period. Jefferies Group LLC boosted its position in Exelixis by 49.2% during the third quarter. Jefferies Group LLC now owns 69,000 shares of the biotechnology company's stock valued at $1,459,000 after buying an additional 22,739 shares during the period. BlackRock Inc. boosted its position in Exelixis by 2.0% during the third quarter. BlackRock Inc. now owns 31,907,047 shares of the biotechnology company's stock valued at $674,514,000 after buying an additional 612,104 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Exelixis by 31.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,639 shares of the biotechnology company's stock valued at $798,000 after buying an additional 10,327 shares during the period. Finally, Squarepoint Ops LLC boosted its position in Exelixis by 32.7% during the third quarter. Squarepoint Ops LLC now owns 359,712 shares of the biotechnology company's stock valued at $7,604,000 after buying an additional 88,635 shares during the period. Institutional investors and hedge funds own 82.74% of the company's stock.
About Exelixis (Get Rating)
Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Exelixis, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Exelixis wasn't on the list.
While Exelixis currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here