Zacks Research Comments on Exelixis, Inc.'s Q1 2024 Earnings (NASDAQ:EXEL)

Exelixis, Inc. (NASDAQ:EXEL - Free Report) - Investment analysts at Zacks Research lifted their Q1 2024 earnings per share estimates for Exelixis in a research report issued on Monday, April 8th. Zacks Research analyst E. Bagri now expects that the biotechnology company will post earnings per share of $0.22 for the quarter, up from their prior estimate of $0.21. The consensus estimate for Exelixis' current full-year earnings is $1.22 per share. Zacks Research also issued estimates for Exelixis' Q3 2024 earnings at $0.29 EPS, FY2024 earnings at $1.10 EPS, Q2 2025 earnings at $0.35 EPS, Q3 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.36 EPS, FY2025 earnings at $1.37 EPS and FY2026 earnings at $1.38 EPS.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.02. Exelixis had a net margin of 11.35% and a return on equity of 8.57%. The company had revenue of $479.65 million during the quarter, compared to the consensus estimate of $481.23 million.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus upped their price target 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 upped their price objective on shares of Exelixis from $24.00 to $25.00 and gave the company an "overweight" rating in a research note on Tuesday, January 30th. TheStreet upgraded shares of Exelixis from a "c+" rating to a "b-" rating in a research note on Monday, March 18th. Citigroup started coverage on shares of Exelixis in a research note on Friday, December 15th. They issued a "buy" rating and a $31.00 target price on the stock. Finally, BTIG Research assumed coverage on shares of Exelixis in a research note on Tuesday, December 19th. They issued a "buy" rating and a $27.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $26.29.

Exelixis Trading Down 0.2 %

EXEL stock traded down $0.04 on Wednesday, hitting $23.68. 1,477,259 shares of the company's stock traded hands, compared to its average volume of 2,306,260. Exelixis has a 1-year low of $18.08 and a 1-year high of $24.34. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 36.80, a P/E/G ratio of 0.62 and a beta of 0.54. The stock has a fifty day moving average of $22.22 and a 200-day moving average of $22.09.

Insider Transactions at Exelixis

In other news, EVP Patrick J. Haley sold 47,020 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.45, for a total transaction 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 approximately $8,255,375.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Alan M. Garber sold 19,205 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $24.01, for a total transaction of $461,112.05. Following the completion of the sale, the director now owns 35,703 shares in the company, valued at approximately $857,229.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick J. Haley sold 47,020 shares of the 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 sale, the executive vice president now owns 384,866 shares of the company's stock, valued at approximately $8,255,375.70. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Exelixis

A number of hedge funds have recently made changes to their positions in the company. Banque Cantonale Vaudoise increased its position in shares of Exelixis by 11.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 7,555 shares of the biotechnology company's stock worth $179,000 after purchasing an additional 781 shares in the last quarter. Alaska Permanent Fund Corp increased its position in Exelixis by 1.2% in the 1st quarter. Alaska Permanent Fund Corp now owns 53,239 shares of the biotechnology company's stock valued at $1,263,000 after acquiring an additional 617 shares in the last quarter. Rise Advisors LLC acquired a new stake in Exelixis in the 1st quarter valued at about $28,000. Los Angeles Capital Management LLC increased its position in Exelixis by 948.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company's stock valued at $58,240,000 after acquiring an additional 2,220,150 shares in the last quarter. Finally, Kapitalo Investimentos Ltda increased its position in Exelixis by 45.4% in the 4th quarter. Kapitalo Investimentos Ltda now owns 19,058 shares of the biotechnology company's stock valued at $457,000 after acquiring an additional 5,949 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

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.