Q3 2022 EPS Estimates for Exelixis, Inc. Cut by Analyst (NASDAQ:EXEL)

Exelixis, Inc. (NASDAQ:EXELGet Rating) – Research analysts at Oppenheimer reduced their Q3 2022 earnings per share estimates for Exelixis in a report released on Monday, August 1st. Oppenheimer analyst J. Olson now expects that the biotechnology company will post earnings of $0.27 per share for the quarter, down from their previous forecast of $0.28. The consensus estimate for Exelixis’ current full-year earnings is $0.93 per share. Oppenheimer also issued estimates for Exelixis’ Q4 2022 earnings at $0.51 EPS and FY2022 earnings at $1.19 EPS.

Exelixis (NASDAQ:EXELGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.07. Exelixis had a return on equity of 13.77% and a net margin of 19.60%. The firm had revenue of $356.00 million for the quarter, compared to analyst estimates of $363.22 million. Exelixis’s quarterly revenue was up 31.7% compared to the same quarter last year.

A number of other research firms also recently weighed in on EXEL. BMO Capital Markets initiated coverage on Exelixis in a report on Thursday, June 23rd. They set an “outperform” rating and a $28.00 price objective on the stock. Morgan Stanley boosted their target price on Exelixis from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, July 15th. Piper Sandler boosted their target price on Exelixis from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, July 26th. Jefferies Financial Group assumed coverage on Exelixis in a report on Thursday, May 12th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, StockNews.com downgraded Exelixis from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 18th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.13.

Exelixis Trading Down 0.4 %

NASDAQ EXEL opened at $21.40 on Wednesday. The stock’s 50 day moving average is $20.27 and its two-hundred day moving average is $20.40. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 0.61 and a beta of 0.60. Exelixis has a 1-year low of $15.50 and a 1-year high of $23.40.

Hedge Funds Weigh In On Exelixis

Large investors have recently added to or reduced their stakes in the company. State of Michigan Retirement System boosted its stake in shares of Exelixis by 1.5% during the 4th quarter. State of Michigan Retirement System now owns 80,158 shares of the biotechnology company’s stock worth $1,465,000 after buying an additional 1,200 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Exelixis during the 4th quarter worth about $10,698,000. Illinois Municipal Retirement Fund boosted its stake in shares of Exelixis by 33.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 49,626 shares of the biotechnology company’s stock worth $907,000 after buying an additional 12,456 shares during the last quarter. Yousif Capital Management LLC acquired a new position in shares of Exelixis during the 4th quarter worth about $3,008,000. Finally, CWM LLC acquired a new position in shares of Exelixis during the 4th quarter worth about $85,000. Institutional investors own 82.74% of the company’s stock.

Insider Buying and Selling at Exelixis

In related news, Director Lance Willsey sold 40,000 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $19.65, for a total value of $786,000.00. Following the completion of the sale, the director now owns 424,415 shares in the company, valued at approximately $8,339,754.75. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Patrick J. Haley sold 18,812 shares of the company’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $18.21, for a total value of $342,566.52. Following the completion of the sale, the executive vice president now owns 239,818 shares in the company, valued at approximately $4,367,085.78. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lance Willsey sold 40,000 shares of the stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $19.65, for a total value of $786,000.00. Following the transaction, the director now owns 424,415 shares of the company’s stock, valued at approximately $8,339,754.75. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Exelixis Company Profile

(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.

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Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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